HVAC financing

Here are some common facts about consumer financing.

  • 50% of all home improvement projects over $5,000 are financed.
  • Over 35% of all homeowners search for financing options before starting the buying process.
  • The average Dealer generates over $1 million in sales with 40% in financing business and 60% of cash/credit card sales.
  • Credit Card Sales cost over 3.5% to the Dealer (look at your bank statements)

Good Reasons to Offer Financing.  There are really good reasons to offer to financing to your customers. The first is that over 50% of buyers use financing to make purchases. Just go to any Home Depot, Lowes, Apple Store, Walmart, etc and you can see how popular financing a purchase is. Apple iPhones is probably the best example of consumer financing. Now phones that cost $1500 are paid for on a monthly basis and they make it really easy to get one.

Grow Revenues.  The second reason is that if you aren’t offering financing, you are missing out on 40% more business. The average HVAC/Generator Dealer will generate over $1 million dollars in sales annually. In a recent survey, we learned that 40% of their sales came from financed transactions. So if you are doing $1 million in sales, you could easily grow your business by 40% just by adding financing options to your menu.

No Fees & No Hassle.  Most companies think that offering financing is difficult, expensive and hassle to deal with. That used to be true. While most companies do charge the dealer anywhere from 2.5% to 12% for certain products, we don’t charge any fees. We don’t believe that the dealer should pay anything for selling their product while delivering a customer to the bank. So the myth that offering financing is expensive is just not accurate. In fact, if you are accepting credit cards – you are giving away 3.5% of your hard earned cash – but by offering financing you keep 100% of the cash and no longer need to deal with deposits. You are paid on the day of install.

If you really want to grow your business and do it profitably, please contact us to learn more about our Home Improvement Dealer Financing program.