When a furnace or AC unit breaks down, repairs need to happen immediately. To do so, many homeowners turn to financing — especially the 56% of Americans who can’t pay for a $1,000 emergency outright.
But not all financing is born equal. Many plans come with high interest rates, which end up being expensive for a customer in the long run. It’s not a situation you want to put your customers in.
This is where the new 0% APR options from Wisetack — our preferred financing partner — come in. With these new options, you can now give customers (who qualify) the flexibility of monthly payments — without making them pay a dime more than the cost of the service.
And because 0% APR financing comes with zero extra cost, even customers who can afford a job outright might be interested in paying over time. In other words, it’s not just for those who need help paying for a job.
Talking to customers about 0% APR options
The good news is that Wisetack’s 0% APR options have virtually no drawbacks for customers, so they’re not a hard sell. But talking about payment can always feel tricky and awkward, so here are a few pointers on what to say:
- There’s really zero interest to pay: Some financing providers offer plans that are only interest-free for a certain period of time, and if a customer fails to pay off their loan within this period, they must repay all the accrued interest. (This is known as deferred interest.) Wisetack’s offerings are true 0% APR, meaning customers who opt for one won’t owe any interest throughout the entire course of the loan.
- Checking options costs nothing: Because Wisetack only runs a soft credit check during the application process, customers can check their options without any credit impact. So why not do it?
Marketing 0% APR
The earlier you can let your customers know you offer 0% APR financing, the better. We’ve given you some tips on how to promote the offering when talking to customers, but to get even more people interested, you’ll want to market it proactively. Here’s where you should mention interest-free options, and what to say:
Your website
Your website is one of your most valuable assets. You’re probably already putting in a lot of effort to attract prospects to it, so it’s a logical place to mention an offering many of them will be craving. Here’s how to do that in three easy steps:
- Create a separate tab for financing (to make it extra clear you offer it).
- Use the language below (or tweak it however you see fit).
0% APR financing available*
Now offering interest-free financing for up to 24 months* on repairs and installations over $500.
It takes just a minute to see your offer, and checking your eligibility will not impact your credit score. With Wisetack, there are no late fees, prepayment penalties, or compounding interest.
Now you can invest in the right solution for your home, stress-free.
Contact us to learn more about how you can pay over time.
*All loans are subject to credit approval. Your terms may vary. Wisetack loans are issued by Hatch Bank, a California-chartered industrial bank. For example, a $1,000 purchase could cost $45.18 a month for 24 months, based on a 7.9% APR. See additional terms at wisetack.com/faqs.
3. Include a graphic (you can check out options here).
To see more examples of how you can use this strategy, check out Wisetack’s handy marketing toolkit.
Your social media accounts
Social media is a great way to connect with your customers; it allows you to showcase your work, promote what makes your company special, and answer any questions they may have — many of which could be about financing. We’ve found that Facebook tends to be an effective channel for home service businesses. Here’s how to promote 0% APR financing on social media:
- Use a graphic from this folder (or create your own).
- Say this in the caption:
| Now offering 0% APR financing for up to 24 months!* If you’ve been putting off installing a new system or repairing a current one, give us a call today to learn more about our interest-free options: {phone number}. *All loans are subject to credit approval. Your terms may vary. Wisetack loans are issued by Hatch Bank, a California-chartered industrial bank. For example, a $1,000 purchase could cost $45.18 a month for 24 months, based on a 7.9% APR. See additional terms at wisetack.com/faqs. |
Your Google Business Profile
Customers are 70% more likely to get in touch with you if you have a complete Google Business Profile, which is why you want to include all the vital information about your business — including the fact that you offer 0% APR financing. Here’s a quick and easy sentence you can add to your “About” section:
| “…We accept all major credit cards, cash, and financing through Wisetack. Now offering interest-free financing.” |
Other ads
Are you running marketing in other channels, like online pay-per-click ads, or highway billboards? Make sure to mention the offering whenever possible. It could be as brief as adding “Now offering 0% APR financing” to an existing ad, or you could go as far as creating new ads that primarily feature the 0% APR options — and see how those are received by your audience.
What’s in it for you?
Like we talked about before, 0% APR financing can benefit many of your customers, even those who are able to pay for a job outright. And what’s good for your customers is generally good for your business. Here are some business boosts you can expect by offering 0% APR options:
- Happier customers
You’ve just given a customer a way to pay over time with no added costs or fees. They’re most likely going to be pretty stoked about that. This means a good review might be coming your way, which is important for you since most customers will only work with a business that has at least a 4-star (out of 5) online rating.
- More referrals
Referrals are widely considered to be the most effective form of marketing, and providing customers an excellent overall experience — including 0% APR financing — is a surefire way to get more of them.
- More repeat customers
Seeking new customers is often a lot harder (and more expensive) than reengaging existing ones. A customer who was happy with your business thanks to excellent service and flexible payment options is likely to come back to you in the future.
Give these tips a try to make the most out of your 0% APR offering and drive more sales. Have any questions? We’re happy to help out. Simply chat into the blue bubble.
*All loans are subject to credit approval. Your terms may vary. Wisetack loans are issued by Hatch Bank, a California-chartered industrial bank. For example, a $1,000 purchase could cost $45.18 a month for 24 months, based on a 7.9% APR. See additional terms at wisetack.com/faqs.
