42% of customers who obtain financing would come back because of it
Want repeat customers? Financing is a big piece of that puzzle.
By the numbers: A survey of over 5,000 equipment buyers found:
- 8% only do business with the equipment seller because of the finance experience.
- 52% depend on equipment seller financing as a preferred method of acquisition over banks.
- 57% believe they are more likely to receive more favorable terms through an equipment seller finance program than a bank.
- 39% would not return to the equipment seller if a finance option were not available.
- And 42% of customers who obtained financing through the dealer would return for the next need primarily because of the finance experience.
What they’re saying:
“There’s no question that the payment program we get through the equipment seller is the reason we come to them first. More flexible terms, easier approval, faster. It makes the difference in how we source new equipment.” —Owner, Florida concrete company
Takeaways for equipment sellers: Your finance program may be more powerful than you think. Not only will it help you acquire more new business, but it can also keep customers coming back.
TimePayment can help. We’re the fastest way to “Yes” for qualified equipment sellers, with sales tools and website/shopping cart integrations to help you lead with a payment option.
Get started: To discuss a vendor opportunity or sign up, click below.
