It’s essential for auto repair finance programs to have multiple options!
When it comes to auto repair, clients are always searching for a good deal. However, offering discounted services can be difficult because as a small business every dollar counts. This dilemma isn’t uncommon in the auto repair industry. If you are still turning clients away because they can’t afford to pay in full and they don’t qualify for traditional finance methods, your letting money walk out of the door. If you want to increase revenue, you must begin to dispel the myths and understand the facts of auto repair finance programs.
Myth: You can only offer one form of finance to your customers
As a business owner, you can offer as many forms if financing as you desire. This can be done by partnering with our company, Financing Your Way. In the past 15 years, we have built relationships with lenders and we are able to offer a variety of financing options for you and for your customers.
Fact: Lender fees don’t matter
Once you’re approved for consumer financing, you will notice that you are charged lender fees when you generate income. These fees are the cost of doing business and should not cause you to panic. By viewing your lenders as partners within your business who are interested in seeing you succeed, it becomes reasonable to understand that by paying lender fees you are also helping your partners realize success.
Business is all about partnership, we can all win together. With this state of mind, you’ll realize that the lender fees reflect not only your success, but the success of your lending partners.
Myth: Clients only qualify if they have great credit
Consumer financing is not only reserved for the elite credit class. Individuals are more than just their credit score. Therefore, offering multiple forms of consumer financing is important for your business. While one lender may look solely at credit, another may take into consideration the consumer’s income. By having these various types of financing options, you increase the likelihood of your client qualifying for consumer financing.
Fact: Lending will improve your revenue
Lending increases revenue not only when the loan is funded, but also in your day-to-day operations, simply because you are able to service more clients. By introducing consumer financing, you’re saying goodbye to days of turning away clients who can’t afford repair work. This means your shop will stay busy and you will consistently have income from repairs funded with consumer finance.
Your customers deserve options, give us a call today and find out how Financing Your Way can help you give them what they want!