Generators can be life-saving pieces of equipment. Extreme weather events during summer heat, like hurricanes or severe thunderstorms, or blizzards in the frigid winter often leave homeowners without power, subjecting them to unsafe conditions. Even moderate storms can strip communities of electricity for hours, making whole-home generators a priceless buy.
Consumer financing options play crucial roles in generator sales businesses. From increasing accessibility to boosting your bottom line, there are many reasons to offer consumer financing. This United Consumer Financial Services article highlights a few of the significant benefits of providing consumer financing for your whole-home generator company.
Make Generators Affordable and Accessible
Whole-home generators are vital for those living through intense weather conditions that leave their communities without power. In addition to providing comfort and access to basic amenities, these systems make the difference between homeowners choosing to evacuate their homes, losing food from their refrigerators and freezers, and, most importantly, living in safe conditions during extreme heat or cold. Consumers should never have to deny themselves the safety and peace of mind of purchasing a generator. And when you provide consumer financing options, they don’t have to.
Financing makes generator purchases not only possible but affordable, even for shoppers without the cash to pay for their generator in one lump sum. Those with less-than-desirable credit and a lack of access to traditional loans can still choose a whole-home generator that meets their needs and gives them peace of mind when the power goes out.
Increase Warranty and Maintenance Plan Coverage and Sales
Warranty and maintenance plans are important components of your business’s revenue. However, the high upfront costs of a whole-home generator can dissuade shoppers from tacking on care plans to their purchases, regardless of the potential savings they might provide over the long term.
Consumer financing gives your customers the confidence and purchasing power to include these crucial add-ons to their generator purchases. For just a few extra dollars per month, they can take advantage of a care plan when their system needs repair or maintenance, and they can also access the manufacturer’s warranty, which could save them thousands of dollars in replacement costs.
Maintain Sales Margins
Constant market fluctuations threaten financial instability for even the most established generator businesses. If your client feels burdened by economic constraints, they likely won’t consider a whole-home generator purchase. However, introducing financing options early in the research and shopping phase makes buyers aware of their options and increases the likelihood of purchase.
Many shoppers don’t consider consumer financing an option when shopping for generators. From your website to your socials to in-store materials, ensure your customers know financing is a simple, accessible, and affordable way for them to purchase their generator and have them installed as soon as possible.
Providing consumer financing options helps you maintain sales margins even during economic downturns and seasonal slumps. A solid financing partnership enables you to increase your revenue in various ways:
- Sell More Generators – Consumer financing breaks down large, intimidating lump-sum values into smaller, more manageable monthly payments. When customers see that they can afford a generator without draining savings or sacrificing planned spending, they’re much more motivated to proceed with the purchase.
- Increase Average Order Values – Consumer financing helps you increase sales and boost average order values. Generator upgrades are simple and within reach. Your customers can choose a unit that better meets their needs for just a few more dollars per payment.
- Boost Accessory Sales – Most of your revenue comes from generator sales. But you also provide accessory parts, installation, and other services. Offering consumer financing allows shoppers to complete their purchases without the financial pressure to postpone installation, maintenance, or repair needs if they arise.=
Secure Payment and Increase Cash Flow
Consumer financing streamlines purchases for your customers while simultaneously simplifying the process for your business. Partnering with a consumer financing firm like United Consumer Financial Services ensures you secure payment for your equipment and expertise and increases your cash flow with prompt funding.
When you attempt an in-house financing program, you open your business up to the devastating consequences of late or missed payments, legal issues, and staffing costs that can become impossible to maintain.
Partnering with UCFS eliminates these risks and positions your business for safe, sustainable cash flow through proven consumer financing that works.
Our process is fast and convenient:
- Enter the customer’s online credit application, or have them enter it themselves
- Receive near-immediate communication of credit application status
- For approved credit applications, customer eSigns the contract right from their phone
- Move forward with the sale
- Get paid by UCFS within 1-3 days after the project is complete
- Consumer makes their payments through autopay for the life of the loan, starting 30 days after the generator is installed.
When you choose UCFS, you don’t have to worry about missed payments that create gaps in your much-needed cash flow. Payment is simple, straightforward, and timely, meaning you have near-immediate access to your earnings to invest them directly into your business.
Build Your Whole-Home Generator Business with Consumer Financing from UCFS
United Consumer Financial Services has provided real-world consumer financing solutions to businesses like yours and their clients for forty years. We know that simple, straightforward financing solutions are the key to securing the sale.
A whole-home generator purchase is a substantial financial commitment for your customers, but there’s no replacement for safe, secure power when the lines go down. UCFS makes financing this equipment possible for your clients. Our high approval rates, auto payment options, and the approval process allow us to provide you and your customers with an unmatched level of service.
If you want to learn more about how consumer financing can help you grow your generator sales business, connect with United Consumer Financial Services. We are happy to help you explore how consumer financing can support your company and how you can begin reaping those benefits today!