Want to Improve Your Close Rate? Hint: Add Financing! - FFC

Want to Improve Your Close Rate? Hint: Add Financing!

There’s a powerful reason auto dealerships offer financing promotions before the customer even steps onto the car lot or chooses a vehicle–it closes more deals. Knowing you can choose your dream car and bundle in a convenient financing package without leaving the car lot feels like a dream come true.

You can create that same dreamy feeling by promoting your home improvement financing options and including it in every sales pitch. Your increased close rate will soon begin to strengthen your bottom line!

5 Tips to Promote Financing

You’ve secured the financing partner, now use their plans and support to your advantage. Follow these smart tips:

  1. Use your website, social media, email, phone hold messaging, window displays and pricing proposals to let prospects know you have “Financing Available”.  In short, shout this sales-closer benefit from the rooftops!
  2. Take advantage of Foundation Finance’s free point-of-sale materials. Dealer partners can access a tailored online toolkit featuring customizable posters, window clings, brochures, sell sheets, email/social templates and more. Available anytime you need them.
  3. Advertise a financing offer in print, radio, TV and other paid channels. A “Deferred Payments” option during tax season could persuade a customer to start a project now instead of waiting for their tax return. A “Same-As-Cash” or “0% Financing” promotion can help bring in new buyers.
  4. Offer EVERY customer at least two positive payment options. For example: “Ms. Smith, the cash price is $4,000 or we offer low payments of $80 per month. What would work best for you?” Make sure to set the tone at the beginning of the presentation that the purchase will be affordable.
  5. Speak in terms of affordable monthly payments, especially with a project upsell. “We can upgrade you to the Platinum Package for just $20 more per month.”

Promote, promote, promote. The most successful dealers, whether in auto or home improvement sales, promote financing with every sale and in every customer-facing channel.

Foundation Finance can help you close more sales. Leverage the power of competitive and convenient financing–every time you call on a customer! Contact us today for more info: 1-855-241-0024, [email protected].

Note: Use of the terms "Loan," "Lender" and "Borrower" is for ease of reference only. Financings are in the form of retail installment contracts ("RIC").

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