In a recovering economy, it can be easy for vendors to get discouraged at their prospects for selling. This is especially true for sellers of what are typically seen as “luxury” or non-essential purchases like pools and hot tubs. So you may be wondering how hot tub financing can help you make sales if people are more worried about paying the bills they already have than making new purchases and adding to those bills.
According to The Globe and Mail, what we’ve seen is that with Canadians spending more time at home and physical distancing measures in place for the foreseeable future, spending on household goods and home improvement purchases actually increased by over 20% for the same time period as last year. It’s easy to understand why – Canadians are looking to make the time we’re spending at home more enjoyable and give ourselves a home alternative for things we used to go out to do while improving the resale value of our homes in the process.
Why Having Hot Tub Financing is Crucial for Your Business
You may have noticed an increase in foot traffic in your store(s) when you were allowed to re-open. If you didn’t have convenient hot tub financing available to potential customers, the truth is you may have missed out on sales. Not only does hot tub financing make owning a hot tub an affordable reality for interested window shoppers, it can help bring in more ready-to-convert clientele. Including marketing materials also helps you stand out from competitors that don’t offer hot tub financing and stay competitive with those that do.
Another benefit of hot tub financing: not only can it increase the number of sales you’re making, but it can also go a long way in increasing the value of those sales. Show customers the value of getting an upgraded model with a negligible bump in their payments. With hot tub financing through Financeit, you have the flexibility to fit higher-end products into your customers’ budgets and optimize your sales.
How Financeit Hot Tub Financing Works
Use the mobile-friendly Financeit calculator either online, in-store or onsite to show your clients a low-cost instalment quote for the hot tub they’re considering. The application for financing can be done in minutes on a mobile device and once the installation is complete and the necessary paperwork has been signed and uploaded, the full purchase amount is deposited directly into your account – without having to pay any merchant fees. We also offer approvals that are good for 6 months that help you close sales in winter and schedule the hot tub installations for the spring.
Financeit hot tub financing also allows you to attract and convert more sales without the hassle of providing your own financing and having to worry about collecting on payments so you can focus on growing your business.
Seal the Deal by Offering Promotions for Hot Tub Financing
If your customers are still nervous about pulling the trigger, offering a promotion can make them comfortable enough to go from “I’m still not sure” to “let’s do it”. Here are some of our popular promotions available with hot tub financing:
- Interest Rate Buy-downs – Reduce the interest rate and overall purchase price of a hot tub to fit a customer’s budget and help them overcome any lingering doubts. Interest rate buy-downs allow you to offer a lower interest rate by paying a fee to offer a lower interest rate loan to customers, the customer pays that lower interest rate, potentially saving your customers hundreds in interest. Show them how much they’ll be saving and address a reason why they may be hesitating to complete the sale.
- 0% Interest – Have customers that don’t want to pay interest? Offer them hot tub financing with 0% interest for 12, 24, 36, 48 or 60 months. Ideal for customers who prefer to pay off loans quickly.
- Deferred Payments – For customers who want to buy a hot tub but are worried about having to make a down payment or making payments immediately. With no payments and no interest for 3, 6 or 9 months, you can help them get the hot tub they want today while giving them the time to save up without the worry of interest building on the loan during the deferral period. A great tool to generate business in an uncertain economy.
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