If you’re in the business of selling or servicing HVAC systems, it’s important to offer financing options to your customers. More than half of Americans don’t have $1,000 saved, so they will not be able to pay for a new HVAC system outright.
By offering to finance, you can make your products and services more accessible to a broader range of customers. There are a number of different financing companies that offer programs specifically for HVAC businesses. Some companies will even help you promote and market your financing options to potential customers. So, if you’re not already offering to finance, it’s time to start considering it. It is the key to growing your business.
Financing Sources For HVAC Contractors
When it comes to HVAC financing, there is no one-size-fits-all solution. The type of financier that you work with will depend on a variety of factors, including the size of your town or city. In general, small towns will have more limited financing options, with the local bank being the primary source of funding. In contrast, larger cities will have a greater variety of financers to choose from, including national companies like Synchrony. Regardless of where you live, it is important to shop around and compare offers in order to get the best deal.
Stand Out with Financing or Lose Business to Competitors
When customers are in need of a new HVAC system, they often don’t have the cash on hand to pay for it outright. As a result, they’ll look for financing options that will allow them to spread out the cost of the purchase over time. If your business doesn’t offer to finance, your customers will simply go to one of your competitors who does offer it. In order to stay competitive, it’s important that you offer some form of HVAC financing. There are numerous options available, so you should be able to find one that fits your needs. By offering financing, you’ll be able to attract more customers and close more sales.