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Financing Simplified: Your Guide to Talking with Customers about Financing

More than ever, shoppers rely on consumer financing options to bring home their big-ticket items or get a much-needed service for their home, health, or family. When money is tight, financing is a great option for consumers, and if you can align yourself with your customer’s needs, talking about it is easy. In this guide, we give you four tips to talk with customers about financing.

1. Introduce Financing Options Early

As you’re interacting with customers, you might wonder when to introduce financing into the conversation. We say, “The sooner, the better!” The earlier in the shopping cycle that you can showcase low monthly payments, the more likely a customer will choose to buy from you and take advantage of those options.

Make customers aware of your financing solutions from the outset. According to Google, 53 percent of shoppers do online research prior to making a purchase. Promoting financing in advertisements, on brochures, during sales calls and on your website lets your customers know you offer financing options that meet their needs, incentivizing them to buy from you.

As you engage with customers, incorporate consumer financing into the conversation as soon as you can. You want to ensure they’re aware of their options. Knowing they can utilize an affordable monthly payment plan gives them the freedom to make selections they might not have otherwise. In fact, a third of surveyed shoppers said they wouldn’t have made their purchase at all if they didn’t have a financing option. Talk about financing early and often so your customers can make their purchase with confidence!

2. Lead with a Low Monthly Payment

After you introduce financing options to your customers, lead the conversation by talking numbers. When you break down a purchase price into easy, affordable monthly increments, price is much easier to discuss.

With consumer financing as a tool, the price can be an attractive talking point. For example, customers could feel comfortable with an $85 monthly payment. That number isn’t intimidating, and consumers can make that payment easier on a monthly basis.

Help your customers think about price in terms of monthly payments instead of one lump sum. By offering financing, you reframe how shoppers think about pricing. This makes shopping more fun, more affordable and helps you close more sales.

3. Emphasize the Ease of Consumer Financing

Consumer financing provides a simple, affordable means for customers to have the products and services they want. And when your business partners with United Consumer Financial Services to provide consumer financing, your customers benefit from the fast, easy application process.

To apply for consumer financing through UCFS, you or your customer fill out an online credit application. In just a few minutes, approval is known, and the purchase can proceed. With UCFS, applying for financing is just that simple.

As you discuss financing with your customers, show them that the process is fast and easy, and they can make their purchase that day! When you simplify the application process, your customers will thank you—and the statistics show they’ll continue to shop with you in the future.

4. Show Customers the Upgrades Financing Can Provide

A lack of funding is one of the most common barriers that prevent shoppers from choosing add-on or product upgrades. But when you offer consumer financing, a lack of immediate funds doesn’t hinder your customer’s purchasing power.

Show your customers the upgrades and products that financing can afford them. Showcase attractive items while explaining how financing enables your customers to bring those items home that day. By breaking up an item’s price into smaller, monthly payments, you show customers that they can bring home exactly what they want. They don’t have to choose a less expensive product when they have their eye on something a little different.

With consumer financing options, they can bring home those big-ticket items and make affordable monthly payments in lieu of paying the entire lump sum upfront.

By offering consumer financing, you empower your clientele to purchase the items they want and need without feeling inhibited by a lack of funding.  

5. Conclusion

Offering consumer financing is a great way to serve and empower your customers, and it helps you increase sales as well. And the good news is that talking about financing with your customers can be a great experience for both parties! Openly discussing the financing and its benefits show your customers you care and want them to have the best shopping experience possible.

When you partner with United Consumer Financial Services to offer consumer financing, you ensure your customers receive the best service and best care on the market! Contact the team at UCFS to begin the consumer financing conversation today.