Point of sale financing is a powerful tool to have at your disposal during any discussion surrounding budget. Its core benefit? It increases your customer’s buying power. If your customer has a kitchen reno or appliance on their list of needs, financing gives you the power to propose the renovation or appliance they’ve always dreamt about. The big question is: What is the best way to leverage financing when you’re proposing a project upgrade?

The big question is: What is the best way to leverage financing when you’re proposing a project upgrade?

1. Let the low monthly quotes do the talking & present multiple options

When you’re presenting a quote, lay out multiple financing options. If the options are crystal clear, your customer will understand how a slight monthly increase will result in the upgrade they’ve always wanted.

For example:

A standard kitchen reno will cost $15,500 or $159 per month. However, a reno with significant upgrades will cost $25,500 or just $260 per month.

A simple comparison like this underlines the benefits of a financing in a clear cut way, maximizing the close rate of your sales. And don’t hesitate to illustrate what a slight increase can afford your customer. 

Concrete examples are key: $30 more per month will get you a Corian® countertop, while $50 more per month will get you granite.

2. Start with a max monthly budget

Establish your customer’s maximum budget for any given month and then work backwards: lay out project options within those limits. If you start with a monthly budget before revealing the final price, it will reduce sticker shock and emphasize the purchasing power at their fingertips.

Again, it always helps to highlight what a slight uptick can afford them. For example, if their monthly budget is $200 they can afford to spend $20,750 – but a slight bump to $300 per month increases their purchasing power to $31,250.

3. Pair financing with a promo program to close on the spot 

Financing is a powerful tool on its own, but when it’s paired with a promotion, like one of Financeit’s “No interest & No payments for 3 or 6 months” options, you’ll have the flexibility and the competitive edge to close a project upgrade on the spot.

Remember, all of these solutions are available at the click of a button with Financeit – you can arrange financing and promotional programs from any device, at any time. Financing isn’t just a payment option, it’s a simple, effective way to coax a customer off the fence and close bigger sales, faster. 

Boost your sales by offering your customers financing.