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Roofinaintez
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34 Posts
Discussion Starter · #1 ·
Can anybody recommend a link or company to use so that I can set up some sort of financing for perspective clients. I would need a company that is only interested in company credit risk score since I am a corporation and will not tie in my personal credits in any way.
 

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Roofologist
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201 Posts
To customer:

Option #1: We accept all major credit cards.
Option #2: Refinance your home.
Option #3: Save your money and call me when you are serious!

I know I didn't answer your question but we have pondered this very idea several times. Accepting credit cards has been helpfull landing those few clients that don't have it all saved up.
 

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Roofing Relapse
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My take on it, a customer willing to pay a very high interest rate and not smart enough to secure their own funding is definetly not my kind of customer. They won't even consider us, seldom ever am I asked if we offer financing. Less than once a year, I used to tell every residential customer we did offer it and twice was I ever taken up on it.

We accept credit cards, seldom ever even use credit cards except for small jobs and repairs. If they want to save a couple bucks, I knock off 2% to pay by check.

I find the only people offering financing are the high pressure closers who go after the low income buyers. I'm with LCG.
 

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My take on it, a customer willing to pay a very high interest rate and not smart enough to secure their own funding is definetly not my kind of customer. They won't even consider us, seldom ever am I asked if we offer financing. Less than once a year, I used to tell every residential customer we did offer it and twice was I ever taken up on it.

We accept credit cards, seldom ever even use credit cards except for small jobs and repairs. If they want to save a couple bucks, I knock off 2% to pay by check.

I find the only people offering financing are the high pressure closers who go after the low income buyers. I'm with LCG.
Our customers are offered a "same as cash" no interest payment with every proposal. Rarely, are we asked if we offer financing & it has nothing to do with their own funding abilities.

Our sales system is far from high pressure and while I wont speak for our clients income, the majority of our work is installed in high-end neighborhoods.
Financing plans can work and are beneficial depending on who is using them.
I signed 5 projects in less than 30 days using financing plans. All but one client had cash on hand. Financing is merely an additional service we offered.
 

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Roofing Relapse
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2,552 Posts
Like I said I used to offer it Miami but almost nobody wanted it, so why bother with it?


Question I have for you is this: Would you have closed those same 5 deals even if you didn't offer financing? Did you quantify with the customers "Why did you choose to hire us?" and if so was their answer "because you offered financing."? I used to not offer credit card payments until one month several years ago I lost two sales and when I asked why, the customer stated "We really liked you, but the other company accepted credit cards." At that point in time I was able to see the benefit to accepting credit cards. I was losing business. I have never had a customer say to me "We went with someone else because they offer financing." And you can bet your bottom dollar I ask! I don't always get an answer but in my follow up phone calls and emails I do ask.
 

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Check with GE Financial. They have some good home improvement options. Explaining it is challenging, because it depends on the total price of the roofing project + the client's credit. Most people will want 0% for 6, 12 or more months. If you offer this, it can be a real advantage among your competitors. Administering it can also be a hassle with your staff to process the paperwork.
 
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