WHY OFFER FINANCING?
VENDOR FINANCING HOME > WHY OFFER FINANCING
IMPLEMENTING A FINANCING PROGRAM WITH UCC PUTS YOU AT THE HEAD OF THE PACK.
If you do not currently offer financing to your customers, you are missing opportunities, period. If you do offer financing, you may not be realizing your full potential. Choosing the right partner makes all the difference.
Using financing as a tool at the beginning of the sales process helps to close more sales. It is especially crucial to have financing information available on your website with the rapid rise of e-commerce. To ignore this massive shift in buying behavior is simply not prudent.
Most customers think of capital purchases in terms of a monthly payment as the majority of buyers do not have the means to pay in cash. Offering an affordable, fixed monthly payment to sell equipment takes the focus off the total price, making add-ons much easier to sell.
Points to consider:
73% of small business owners will not choose a vendor if they do not have a financing presence on their website.
66% of small business owners are more likely to choose a vendor with the best information on financing, even if it means they sell a slightly less desirable product.
Larger gross margins on equipment are realized with a financing agreement as the focus moves from overall cost to monthly payment.
Selling options and add-ons becomes much easier with financing as many of these items can added for only a few extra dollars per month.
Having the ability to wrap taxes, shipping, installation and training into a lease agreement is a strong selling point to small business customers.