THE INDEPENDENT EDGE
Primary Consumer Financing Benefits Nationwide Southwest Members
Consumer Financing is always a hot topic when a dealer or retailer, especially in the Independent category, wants to sell big-ticket items to customers who can’t pay cash. Let’s put aside the surge in cash purchases for now (but are you asking for an up-sell when you have one?).
Most consumers will tell you that their financial decision is influenced by the availability of financing. In fact, 89% of consumers believe that promotional financing makes purchases more affordable, and 77% of consumers ALWAYS seek financing when making a major purchase! Then, when they DO purchase, if the ticket is $500 or more, then they typically spend 35% more when they use financing – like in-store credit cards.
That’s where YOU come in! Nationwide Southwest Members enjoy competitive promotional financing rates, private-label credit cards, easy application processes – sometimes from the consumers’ own phone! – and your sales team enjoys greater commissions as they push accessory and service contract add-ons.
Member rates can be as little as 0%, and you can offer terms of up to 60, or even 72 Months to your customers. Our Primary Financing programs through Synchrony and Wells Fargo help you close more sales and increase ticket sizes!
Below we highlight some of the benefits of each program we offer with each of our Primary Financing Vendor Partners:
Our Members receive many benefits from Wells Fargo as part of our various programs with them. Utilizing their financing and credit card processing can save you time and money, while doing the same for your customers. When your customers are happy with you, they will spread the word – and that is the best (and most cost-effective!) kind of advertising!
Retail Services includes a revolving line of credit, including private label credit cards that Nationwide Southwest Members can offer to their customers as a form of Primary Consumer Financing. There are multiple special financing options like: Open-to-Buy promotions, All Brands – All Products promotions each month, and social media assets.
Merchant, or Credit Card Processing Services allows you to allow your customers to pay how they would like – in-person, online, or over the phone. You get access to funds as soon as the next business day to help you manage cash flow. Wells Fargo offers business management tools like scheduling, payroll, marketing, and customer loyalty programs you can take advantage of.
Commercial Distribution Finance
Maximize your inventory by utilizing the Inventory Financing service from Wells Fargo. Interest-free financing defrays borrowing costs, while extended terms for display programs allow you to pay it back ever more affordably. Stock up at PrimeTime and other Markets and Trade Shows with specials there with flexible repayment terms not available on open account. You would also have access to the Small Business Paycheck Protection Program.
Synchrony helps you engage consumers as they spend and save – with you! They deliver customized financing programs backed by deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the experience of their Nationwide Southwest Member Partners.
Synchrony Program Features
Align Store-branded accounts with 24/7 Support and Training for your staff. A customized approvals process takes seconds for your customers while protecting you and your customers from potential fraud. Synchrony also participates in Open-to-Buy campaigns geared toward getting you repeat customers!
This card aligns thousands of store-branded accounts and offers special consumer promotions and rebates. These accounts allow customers to bring any Synchrony HOME card to your store and use their available credit with YOU, spurred by Open-to-Buy periods.
With a minimum purchase requirement from $0, with consumer offers from 0% (including little or no dealer cost), and extended financing terms, Synchrony maintains an aggressive offer for Nationwide Southwest Members and your customers! You will also receive special, Member-Exclusive financing rates (with codes available about 7 days before a promotion starts), PrimeTime financing specials for our bi-annual show, and Exclusive promotions just for Nationwide Southwest Members!