In today’s ever-changing economy, businesses are more cautious than ever and are taking more time to think about big purchases. How do you stay ahead of hesitation, ease customers’ minds, and move them toward closing? Offering financing can help.
Let’s explore some common buyer hesitations and how providing a finance solution can help turn challenges into opportunities.
Sticker Shock
The Concern: “I didn’t budget for tax, shipping, training, or software.”
The Response: “Actually, we can finance your entire project from equipment to shipping/crating and soft costs. You’ll have one affordable, fixed monthly payment with options for little to no money down. Do you want to see an estimated payment?”
Budget Concerns
The Concern: “I’m not sure we have the cash flow to purchase right now.”
The Response: “Have you thought about financing? It makes budgeting a whole lot easier. Fixed payments mean no surprises, and you can compare your monthly payment to the revenue or savings the new equipment will generate. Let’s look at ROI potential vs. payment amount.”
High Rates
The Concern: “Rates are too high right now – I’ll wait until they drop”
The Response: “I get it. Higher rates end up amounting to a lot of extra cost for high-ticket, long-term obligations like a 30-year mortgage. For the equipment you’re looking at, and shorter finance terms, the current rates will only cost you a few dollars more a month than a handful of years ago. We can also play with money down and term length to get you a payment range you’re comfortable in.”
Start-Ups
The Concern: “I’m a newer business/start-up. I don’t think I’ll qualify.”
The Response: “Our finance partner has a ton of competitive options for new businesses. To see what you qualify for, we just need to fill out a short credit application and get a copy of your past 3 months’ bank statements. What are your thoughts on getting an approval started?”
Waiting to Save Up the Cash
The Concern: “I’ll wait until I can pay cash to avoid finance costs.”
The Response: “We totally get it. One thing to think about is that cash is a limited asset, and there might be better ways to use it than tying it up in equipment. With financing, you can protect your working capital and get some great tax benefits. You can also avoid some finance costs by making a larger down payment or financing for a shorter term.
Affordability Concerns
The Concern: “I don’t think I can afford it right now.” (Maybe the truly can’t)
The Response: “Since you’ve been in business a couple of years*, you might qualify for one of our finance promotions. Right now, we’re offering $25 a month for the first 3 months of your term. It’s super affordable and can help set the stage for growth and additional revenue earned this year.”
*Most of our finance promotions are only valid for customers who have been in business 2+ years and have good credit. Be cognizant of that before you offer a promotion!
Cash Flow While Waiting for ROI
The Concern: “I’m worried about lack of cash flow when waiting for the equipment to start making money.
The Response: “We’ve got a few deferred payment structures that’ll allow you to get the equipment installed, learn to use it, and start generating revenue before your first payment is due. Do you want to see what that’d look like?”
In Summary
Buyers aren’t typically saying “no” – they’re saying “not yet”. With the right finance partner and solutions, you can help them move forward with confidence. Whether it’s a start-up worried about qualifying or a seasoned business keeping an eye on cash flow, there’s a finance option to fit their needs…and we can help you find it! Let’s go move some customers from kicking tires to closing…together!
