When you need to close a sale, flexibility is key. This is why Financeit equips our merchants with a wide range of programs and tools to help close those on the fence customers.

In 2020, a large portion of our merchants utilized our deferred payment promotion, and this is why you should too. According to a survey released by Cardify, nearly half of consumers said they spend anywhere from 10% to over 40% more when given the opportunity to buy now and pay later.

How Financeit’s Deferred Payment Program Works

As an approved Financeit partner, you have access to offer your customers our deferred payment program, that means no payment and no interest for the length of the deferral period for newly approved deferral applications. This allows you to give your customers greater purchasing power so your customers can get exactly what they want right now and pay later.

How offering deferrals to your customers can boost sales

Consider the boom in the home improvement industry this past year due to the pandemic. As COVID-19 has persisted people are spending more time than ever in their homes. This has led to consumers reallocating how they spend their disposable income. It has gone from travel and other forms of entertainment to home renovation projects.

This year, for instance, sales of pools and hot tubs have risen dramatically. As the pandemic kept people at home, many were looking for a safe way to have outdoor fun, and pools provided the answer. When there’s a high demand for a pricey product, deferrals can help. 

Simply put, the more flexible your home improvement financing options, the more sales you’re going to make. Offering deferrals makes it easy for your business to increase its close rates — you’re essentially giving your customers an additional payment method, and that flexibility is going to attract new customers. 

Offering deferrals can also help increase transaction size by reframing the sales conversation — in other words, say goodbye to sticker shock. If a customer is investing in a home improvement project, for example, they might be more inclined to go in for all the bells and whistles if there is an option for a deferral or if they know to expect flexible financing options.

How deferrals can benefit your customers

Financeit deferral programs offer true no interest and no payment for the deferral period chosen,  since they don’t require any backdated interest. Your customers can pay off the loan at any time in the deferral period without paying interest. This flexibility helps free up cash flow in the short term for your customers. If the customer doesn’t pay it off during the deferral program, it rolls into a standard loan.

Limited time 9 month deferral promo

Here at Financeit we understand that deferrals have become a popular customer financing tool during the pandemic, but they are also useful for your business year-round. This is why we are offering a limited-time 9 month deferral promotion.

From now until June 30, 2021 you can offer your customers a 9 month deferral for the cost of our 6 month deferral. To take advantage of this special pricing get in touch with your account manager or sign up with Financeit today.

Boost your sales by offering your customers financing.