When it comes to auto repair, clients are always searching for a good deal but 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, you’re letting money walk out of the door. If you want to increase revenue, you must understand the facts of auto repair finance.
Multiple options equals less denials.
You can offer various forms of financing. This will help you deny less customers. Our company offers auto repair financing for customers with all types of credit. Auto repair financing is not only reserved for the those with perfect credit. 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.
All lenders charge fees.
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. Your lenders are your 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. Judge a lender by their true value to carry out their commitment to your business and provide great auto repair financing with fast decision and rapid funding.
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 the 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 you can provide them.