For many merchants, giving consumers greater payment options for their purchases could mean the difference between completing the sale, or losing it to a compitetor that offers this flexibility. Today’s consumers have come to expect that they will have a broad range of payment options available to them, when they are considering purchasing products or services with a price tag above $500. However, the reality is that, outside of mainstream credit cards, most merchants do not have any consumer financing arrangement in place for prospective customers who may not be able to finance their purchase with a credit card, and are also unable to pay cash in full, so again, a potential sale is lost. The solution to this problem for both the merchant and the consumer, lies in alternative consumer financing programs that can accommodate prospects with almost any credit score, including those with bad or no credit, and give them the best payment options that fit their budget.
Fairfax Funding has forged an alliance with one of the major players in this arena, which now allows merchants to offer their own in-house financing to their prospective customers, including 90 days, 6-months or 12 months, same as cash, interest-free financing, as well as term payments of up to 48 months or more, and revolving credit. Since most consumers make their buying decisions based primarily on the monthly payment amount, the selling price becomes secondary. This leads to more sales, higher revenues and happier customers. A simple credit application form is all that it takes to get the ball rolling. The application can be completed in less than two minutes, from any computer, tablet or phone, and an approval is issued in less that 30 seconds. This means that the customer can immediately walk away with the purchase, and the merchant is paid within 24 -72 hours.
If you offer products and services to the consumer market, with a price tag above $500, you need to have a variety of consumer financing options available to capture potential sales, and our consumer financing options could be the solution that you need.