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HVAC contractors, this is a reminder that implementing financing into your sales process doesn’t have to be complicated. With the right financing partner, it can be a seamless addition to your HVAC business. Whether you are unfamiliar with or experienced with offering home improvement loans to your customers, integrating financing into your sales routine can be simple, and your business will reap the benefits. Knowing how to confidently offer HVAC financing can make home comfort more accessible for customers while driving growth for your business.
Align Your Team on the Value of Financing
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The value of offering your customers financing for their HVAC needs is priceless. Offering a home improvement loan significantly benefits both the home improvement business and the homeowner, allowing the homeowner to keep their home comfortable and safe while you continue to earn and retain business. Ensure your team understands how essential offering financing can be for a wide variety of homeowners. Some of the greatest benefits of offering financing that everyone on your team should be aware of include:
- The ability to relieve the financial burden that comes with a potentially unexpected home expense. (A malfunctioning furnace or air conditioner can strike unexpectedly, especially during extreme hot or cold seasons.)
- Removing the high up-front cost for flexible monthly payments that align with your customer’s budget.
- The overall capability to inform homeowners about their qualification amount while providing the necessary information to make a financing decision that suits their needs.
To learn more about the benefits of offering financing and additional ways that it increases contractor success, click here.
When your entire team understands the value of home improvement financing and how it directly impacts your business’s growth, collective motivation will rise. It’s crucial to partner with a financing provider that goes beyond just offering plans—choose a partner who provides hands-on training and ongoing support, giving you and your team the confidence to navigate questions and seamlessly integrate financing into your sales process.
Presenting Financing Options: Tips and Best Practices
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Starting out the financial conversation by discussing the availability of financing can ease your customers’ financial stress and give them more comfort with the project at hand. A wide variety of homeowners can benefit by having an HVAC repair or replacement financed — never assume your customer ‘needs’ or ‘doesn’t need’ financing. According to a recent Bankrate report, only 41% of U.S. adults would use their savings to pay for an unexpected emergency expense. Home improvement financing is the new industry standard and can benefit homeowners with different financial situations.
Highlight and call out the top advantages your customer can experience with financing, such as:
- Low-interest rates
- Flexible monthly payments
- Convenient online customer portal
- Automatic payment setup
- White-glove support
- No hidden fees or early loan pay-off penalties
Offering homeowners a ‘good, better, best’ proposal in a monthly payment format allows them to explore a flexible range of options, ultimately increasing satisfaction for both your customers and your business. Providing flexible financing options can make a significant impact—according to a study from JotForm, 30% of shoppers said a payment plan determined whether they made a purchase or not. To support homeowners in their financing journey, consider leveraging resources such as our blog, ‘A Homeowner’s Guide to Home Improvement Loans’ to address common questions. Sharing informative materials can foster trust and support informed decision-making. Overall, listening to your customers, relating to their concerns, and offering support throughout the process is key.
After the deal is closed: What comes next?
After closing the deal, feel confident you can rely on your financing partner to answer your customers’ questions, offer in-depth knowledge, and communicate reliably. Another thing to remember is to stay in communication. Provide regular project updates, check in on their satisfaction, inquire about any additional needs. Offering great financing options in combination with prioritizing strong customer relationships can lead to higher customer retention and increased business. By choosing a supportive financing partner and equipping your team with the knowledge and tools to present financing confidently, you can create a smoother sales process and a better customer experience.
To learn more about what Watercress Financial offers our growing network of successful HVAC contractors, click here!
Whether you require installation, repair, or maintenance, our technicians will assist you with top-quality service at any time of the day or night. Take comfort in knowing your indoor air quality is the best it can be with MOE heating & cooling services Ontario's solution for heating, air conditioning, and ventilation that’s cooler than the rest.
Contact us to schedule a visit. Our qualified team of technicians, are always ready to help you and guide you for heating and cooling issues. Weather you want to replace an old furnace or install a brand new air conditioner, we are here to help you. Our main office is at Kitchener but we can service most of Ontario's cities
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