How to offer financing to your customers

Discussion in 'General Business' started by libracomputers, Oct 4, 2010.

  1. #1
    I am looking into offering financing to my customers.
    Do any of you on here offer this?
    What company are you with and how much are they costing you to use the service.
    I sell high spec computers and I think if I could offer financing to the customer I would make more sales.. Thanks
     
    libracomputers, Oct 4, 2010 IP
  2. Mioni Krakel

    Mioni Krakel Peon

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    #2
    Call up GE Capital Bank
     
    Mioni Krakel, Oct 4, 2010 IP
  3. libracomputers

    libracomputers Peon

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    #3
    Would like to stay away from banks they ask for big apr on loans... the ones i have found ask to much money 199 set up then 49 a month for 3 years...Plus send money to the person asking for credit not you so not sure of a sale.. They could spend the money on other things so you get them a sale and make money but not you ... So thats no good...Thats like me putting an add in my shop for someone and they ask me to pay them 49 for doing it.. See what im saying?? Thanks
     
    libracomputers, Oct 4, 2010 IP
  4. LasseKohau

    LasseKohau Peon

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    #4
    Hi Libra, My former offline company did some financing to buy our products. We kept in inhouse, which i thought was a bad idea.

    It gave us a lot of trouble and customer non-satisfaction. Later on, we switched to GE - and it gave also a lot of trouble.

    Customers seem to have trouble, understanding financing issues.

    regards, LASSE
     
    LasseKohau, Oct 5, 2010 IP
  5. libracomputers

    libracomputers Peon

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    #5
    I might just look into useing loan brokers I can recommend making it easy for people to get credit. As I dont think this way you require any special documentation.
    Id kinda like to have a deal with another company as i dont want to become a finance company myself.
     
    libracomputers, Oct 5, 2010 IP
  6. Baron Smith

    Baron Smith Member

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    #6
    Instead of financing yourself I would suggest you to contact any bank for providing short term loans to your customers that will reduce your burden as well as you can get more profit out of this.
     
    Baron Smith, Oct 5, 2010 IP
  7. libracomputers

    libracomputers Peon

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    #7
    Would like to stay away from banks they ask for big apr on loans..Plus like I said I was talking to a finance guy on the phone he told me that banks would not do business with a small company like me. Something to do with my business as no history of credit or something along them lines I was not listening to well as he was going on and on about what he could do and so on lol
     
    libracomputers, Oct 5, 2010 IP