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Consumer Financing

Consumer Financing

Offer Consumer Financing to Improve Sales and Customer Loyalty

Stop letting your customers leave the store and make the sale now!

www.edatacapital.com

 

“Market Place” 14 + Banks Programs

Primary consumer finance programs are defined as financing options that are a consumer’s “first look.” These are the offers a customer has access to prior to being presented with secondary (or sub-prime) options.

 

Primary Lander

Primary consumer finance programs are defined as financing options that are a consumer’s “first look.” These are the offers a customer has access to prior to being presented with secondary (or sub-prime) options.

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Sub-Prime Programs

Depending on the lending provider, sub-prime financing can also be a no-risk solution, with many non-recourse loans available to merchants. Since the majority of those customers are likely to fall into the approval criteria for sub-prime financing, these programs meet the needs of a much larger group of individuals. In some cases, this group can account for nearly 80% of a business’s respective consumer base.

No-Credit-Check Programs

No-Credit-Check financing is a special type of lending program with no credit requirement; this program is intended to provide consumers with damaged or unestablished credit histories the opportunity to utilize consumer financing despite maintaining a low credit score.

While no-credit-check financing is more expensive than other programs, lenders often provide the merchant the ability to offer a 90-day same-as-cash option in order to mitigate, or offset, the additional cost to the consumer.

Keeping it Simple

Once a business has matched the right type of lending program with their customer, the financing providers take over. Most lenders handle collections, billing and payments, and document signing on their own, leaving the business owner to operate without the overhead that’s required to maintain an in-house financing team, and free of the long-term challenges of billing the client, issuing payment reminders, and sending the account through a collections process if a customer’s account becomes delinquent.