How To Offer In House Financing

 

How To Offer In House Financing

By now, most businesses understand that offering in-house financing is not a choice, it is a must-have feature for their business.

But if you are new to consumer in-house financing, where do you begin.

First, evaluate your prospects. It’s not enough to profile your customers, because they are the ones that purchased your product or service, you must size up everyone that wants to be your customer. Even those that do not.

Second, honestly assess why you are missing the boat on the people that do not become customers. I assure you, it typically boils down to money. Perhaps your pricing is not in-line with the competition. Chances are, they couldn’t put together the money to make the purchase. Either they lack the credit availability or the liquid resources to close the deal. Either way, understand their needs, and your business will grow exponentially.

Third, decide what type of program will best fit your needs. It doesn’t make sense to add a prime only product if your customer base is made up of off-prime and sub-prime individuals.

Fourth, determine which lenders or programs you will apply for. Keep in mind that your business may not be eligible for some in-house financing programs. Each has their own criteria on what kind of businesses they want to take on.

Fortunately, Flexxbuy can help you through the entire process of selecting an in-house financing program. As a leading broker, we have access to almost every need a business may have.

Complete the form on the right to speak with a Flexxbuy Representative and understand your in-house financing options.