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Old 09-10-2015, 12:02 PM   #1
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Has anyone used a finance company for their customers that they have been happy with?

Any finance companies to stay away from?

We have never offered financing - so I am not sure what questions to even be asking.

Looking for finance company that requires the least amount of involvement from us, short application, and a quick approval process. Mainly to be used for emergency water heater replacements in the $1,000. - $3,500. range.

What I envision is being on the job, offering financing, fill out quick form, put customer on phone with finance company, and get approval confirmation number. Is this how it works?

What fees do finance companies normally charge?
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Old 09-10-2015, 03:49 PM   #2
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GE capital bank! Now call synchrony bank. I never have problems with them. Easy one page application like 7 question name and address of the client pretty much. Great customer service. You can run the application by phone and know in 5 minutes if your client got approved. The last thing the client chooses the term that best fits them from 12,18 months no interest to a term of 132 months 9.99 apr again up to the client. Pm me if you want more info. You get pay right away GE deals with their payment!
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Old 09-10-2015, 04:49 PM   #3
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Why offer credit? They should have a credit card or a line of credit already. If they're maxed out or low credit score, will Synchronicity give them credit?
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Old 09-10-2015, 05:06 PM   #4
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Why offer credit? They should have a credit card or a line of credit already. If they're maxed out or low credit score, will Synchronicity give them credit?
Some people may have a credit card with a balance and a high interest rate where they don't want to add to it.

If they had good financing terms, it may be the difference between going with a new water heater vs. nursing the old one along.
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Old 09-10-2015, 05:22 PM   #5
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A lil inside information.

I have noticed that people that actually have the money, cash etc. High end homes love the 18 months not interest. I've been told by them that they rather use someone else's money since there is no charge and invest what they have in something else. My guess some how they make money out of this.

As far as why offer credit some people have great credit and don't want to fork out 4k in one shot. Having options is the difference between getting a repair or having them replace the unit. Offering credit is a good tool to have for many reason and not just because they don't have the money. You will only know this if you offer the option. I have gotten lots of jobs that I wouldn't have if I didn't offer this.

I only know of this bank they are really good at approving home owners I say a good 95%. Very rare they don't qualify even with bad credit. You have to have the worse credit to get denied and I mean really bad!

I take advantage of the 0% offers I get from my credit card. They don't make a penny out of me!
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Old 09-10-2015, 07:04 PM   #6
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Quote:
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Some people may have a credit card with a balance and a high interest rate where they don't want to add to it. If they had good financing terms, it may be the difference between going with a new water heater vs. nursing the old one along.
If they are still getting hot water and don't have the cash on hand they shouldn't replace it.
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Old 09-10-2015, 10:09 PM   #7
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If they are still getting hot water and don't have the cash on hand they shouldn't replace it.
I can't tell you how many times I've been asked by a HO to look at their heater. Can't blame them, I know jack about my furnace or A/C. I'll look at it, "Is it giving you the hot water you want? It's not leaking. I could put a new one in and take your money, but look at it this way. It's working and not leaking. You could have another six years of life left, maybe six weeks. If you replace it now, you're taking the time you have left with this away from the new heater." Some just wanna spend the money, some will wait. My job is to give the customer all options and concerns regarding what they want to do with their money and peace of mind.
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Old 09-10-2015, 10:10 PM   #8
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Clear your inbox Madame Moderator.
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Old 09-10-2015, 10:11 PM   #9
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GE capital bank! Now call synchrony bank. I never have problems with them. Easy one page application like 7 question name and address of the client pretty much. Great customer service. You can run the application by phone and know in 5 minutes if your client got approved. The last thing the client chooses the term that best fits them from 12,18 months no interest to a term of 132 months 9.99 apr again up to the client. Pm me if you want more info. You get pay right away GE deals with their payment!
I have dealt with a few and they were too sleazey and too much paperwork and leg work for me to deal with.... if it is as easy as you claim it is and I dont have to spend more than 15 minutes filling out forms,

you can pm me too with information if you dont mind..

thank you in advance
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Old 09-11-2015, 12:37 AM   #10
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Clear your inbox Madame Moderator.
Yes sir!
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