financing options for service work

financing options for service work

Postby harleygrl » Thu Aug 30, 2007 5:05 pm

Does anyone have any good information on any companies providing financing options for service work? For example I was with a Ford store at one time and we had a 90 days same as cash program that Ford had set up with GE card services. I am with a Mazda store right now and Mazda doesn't have any programs currently in place for this. Any idea or suggestions?

Thanks!
harleygrl
 

financing options for service work

Postby btk » Thu Aug 30, 2007 5:22 pm

Wells Fargo Bank offers unsecured 90 days same as cash financing.

I just dropped the program after 4 -5 years, alot of denials, maybe 1 out of 10 would be approved-which isnt really surprising considering!!!!!

I did find it to be a good option at one time, but it just got to be alot of work for a very little return. We had to submit the application and fill out all the terms and have the contract signed and filled out properly or they wouldnt approve.
btk
 

financing options for service work

Postby azracing » Fri Aug 31, 2007 11:59 am

Chrysler - Dodge & Jeep have a credit card in place that works good for 50% of the customers that ask for credit terms.
azracing
 

financing options for service work

Postby daponik » Fri Aug 31, 2007 8:24 pm

Don't your customers choke when they see the 36% interest rate? At least that's what it is out here from Wells Fargo...
daponik
 

financing options for service work

Postby used2whinnig » Mon Sep 10, 2007 1:28 pm

Check with your sales dept. buisness office.
Many times they will know which companies offer what you are after.
We used a finance company years ago but all the paperwork we had to do was just not worth it.
Most people can put it on their
credit card(s).
used2whinnig
 


Return to Service & Body Shop Managers

Who is online

Users browsing this forum: No registered users and 5 guests