EVERYWHERE, THEY’RE POPULAR WITH MILLENNIALS AND GEN Z BUT WHAT TO CONSIDER NOW. >> YOU’RE BORROWING MONEY YOU DON’T HAVE FROM A COMPANY AND PAYING THEM BACK. >> WANT TO GET IT OVER WITH. >> Reporter: BUY NOW, PAY LATER, THE TREND THAT GIVES YOU… Read More »Is ‘Buy Now, Pay Later’ Right For You? Here’s What To Consider
Buy Now Pay Later Appliances
Offer your customers a manageable monthly payment plan with Buy Now Pay Later Auto Repair
. Customers can pay their auto bills over time
with an existing credit card: no hard credit checks, no lengthy approvals
Finance Your Repairs
Buy Now Pay Later Auto Repair
Our 4-question online loan application is quicker than applying for a credit card and way more convenient than visiting the bank. Apply from any internet-connected device and get an instant decision. You’ll be out of the auto repair shop in no time.
Repair Now, Pay Over Time
Auto repairs won’t wait for your paycheck to arrive. . You get a chance to breathe with no money down. Even better? There’s no interest if you pay off your loan in 60 days.* Not so with most high-interest credit cards. No maxed cards and money saved? Smart.
The Car Repair Loan Process Made Easy
Manage every step of your car repair loan from your online account.
- Fill out our quick online loan application and create an online account. You’ll instantly find out if you’re approved and the maximum amount.
- Choose a service center partner (or other qualifying service center) and provide us basic information about your vehicle.
- Get your car repaired. Then select the amount you want to finance, set up your payment plan and e-sign your loan documents. service center partners receive payment from us. If they’re not a partner, you’ll receive a virtual prepaid card for your repairs.
- Pay back your loan over time on flexible terms.
Buy Now Pay Later Auto Repair
When your car needs a major repair, it’s often not a repair that can be completed in phases. Our auto repair financing programs let you get that fix taken care of now, even if you have little or no credit. Then, you can make payments on auto repairs that will keep you on the road and your finances intact. We make it easy – from getting the auto repair financing set up, to control of your account – all from your computer, smartphone, or tablet. There is no need to download anything – simply click a financing option below and fill out the form to qualify
Easier payment processing is here with Buy Now, Pay Later (BNPL) powered by
QuickFee. Patients can pay off their transaction over time using an existing credit
card: no hard credit checks, no lengthy approvals.
Why your customers will love it:
- No more waiting on credit or financing approvals.
- Easily manage large or unplanned expenses.
- Avoid interest charges and high APR.
- Minimal or no impact on credit score.
Why your business will love it:
- Get paid upfront within a few days.
- Quick and easy setup.
- Share your BNPL link anywhere for touchless
- Proven to increase average transaction values.
How does it work?
With your Buy Now, Pay Later link, customers can select
a monthly payment plan to cover their transaction. Their
credit card will only be charged for the first installment
(out of 4 total) on day one
Customer Financing for Small Business: Pros and Cons
As always, when considering a new business model, you’re going to want to weigh the pros and cons to make sure it’s the right option for you. When it comes to customer financing, there are some obvious benefits, as well as a couple of hidden risks to prepare for. Let’s take a look.
Pros of Customer Financing
As we mentioned earlier, there are a variety of studies that show offering financing to customers is ultimately beneficial for merchants. Therefore, let’s explore some of the top benefits of customer financing for small businesses.
1. Increased Sales
At the end of the day, and as we discussed, the general purpose of customer financing is to increase your sales by turning more browsers into buyers. By offering a payment plan on your expensive items, then, you’re making it possible for customers who might have otherwise left your store without buying anything to complete a larger purchase. Therefore, by encouraging customers to complete more sales of more expensive items, you’re creating more revenue for your business.
2. You Gain Customers
Ideally, by offering customer financing, you’re not only increasing your sales, but gaining customers you otherwise would not have attracted. To explain, if your target customer is in the market for a large purchase, like a sofa or a fridge, they might be more likely to buy from you than from a competitor that doesn’t offer financing. Moreover, the same customer might also be more likely to return to your store for future expensive items, since they already know that they’ll be approved for your payment plan—thereby increasing your customer retention.
3. Upfront Payments
If you’re working with an outside customer financing company, they’ll pay you upfront for the full price of the item and then collect incremental payments directly from the customer. This is a huge benefit as it not only limits the risk for you, but it also increases your immediate cash flow, making it easier to invest in other parts of your business. In this way, you’re offering your customer a service that is valuable and helpful to them, while increasing your business’s cash flow, since financed-backed purchases act as any other purchase that was paid in full upfront.