How do you make yourself stand out from your competitors? The answer is simple—by offering something they don’t. Our 240-month amortization option is one thing that can set you apart. This is a first-of-its-kind product in the non-bank home improvement lending space that increases purchasing power for homeowners and provides them with a more affordable financing option.[spacer height="20px"]
The 240-amortization option allows customers to spread out their loan payments out over a longer period of time (20 years), which significantly reduces their monthly payments. The 240-month amortization plan can actually reduce a customer’s monthly obligation by as much as 29%.
Here’s another way of looking at it. With the 240-month amortization plan, a customer can get a higher loan amount but still have affordable monthly payments.[spacer height="20px"]
Now that we’ve cleared how this product benefits the customer, let’s delve into what it means for you and your business. There are three key benefits to you to keep in mind when it comes to the 240-month amortization product: a higher average ticket, higher closing ratios, and an expanded customer base, all of which will lead to higher sales volumes.
You’ve already taken the first step toward growing your business by partnering with EcoHome Financial. The 240-month amortization product is the perfect way to drive your momentum and make this your most profitable year yet. For more information on this or any of our other financial products, speak to your Dealer Relationship Manager today!
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