Not all financing is good for customers.

When a customer needs a new roof or furnace, waiting is not an option. In such situations, many rely on financing to get what they need done — especially the 56% of Americans who can’t pay for a $1,000 emergency outright.

But financing isn’t always customer-friendly. Things like high interest rates, hidden fees, and deferred interest can harm customers — and they reflect poorly on businesses.

Enter, stage left, Wisetack’s 0% APR options, which allow customers (who qualify) to make monthly payments without making them pay a penny more than the cost of the service. 

With 0% APR financing, even customers who can afford a job outright might be interested in paying over time, as there is no extra cost. In other words, it’s not just for those who need help paying for a job. 

Talking to customers about 0% APR options

0% APR isn’t exactly a hard sell. But talking about payment can always feel tricky and awkward, so here are a few pointers on what to say:

1. Checking options costs nothing: Because we only run a soft credit check to determine a customer’s eligibility for financing, they can check their options without any credit impact. So why not do it and see if they can qualify for 0% APR?
2. You won’t be charged any interest, period: Some financing providers offer plans that are only interest-free at first, 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, and it can be tricky for customers. 0% APR financing offered through Wisetack is truly interest-free, meaning customers who qualify for it never have to worry about unexpected interest creeping up on them.

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. 

A good place to start is to include a quick blurb about it whenever you talk about financing in general. To make it easy for you, we have an entire section dedicated to 0% APR in our Marketing Toolkit where you can get the exact words and graphics to use on your website, in your social media posts, etc.

What’s in it for you? 

In short, 0% APR is good for your customers, and what’s good for customers is generally also good for business. To be more precise, here are some boosts you can expect by offering 0% APR options:

1. More good reviews

You’ve just given a customer a way to pay over time with no added costs or fees. They’re probably going to be pretty stoked about that. This increases the chances of a good review coming your way, which is a big deal since most customers will only work with a business that is rated 4-stars or higher online.

2. More referrals

Referrals are often considered to be the most effective form of marketing. When you combine 0% APR* financing and excellent service, you are creating a memorable experience for your customers — and you can bet they’ll tell their friends about it. (Here’s a guide on how to build a referral marketing strategy that works.) 

3. More repeat customers

Seeking new customers can be a lot harder (and more expensive) than reengaging existing ones. A customer who was able to pay over time for a service without incurring interest will be happy with your business, meaning they’re more likely to come back to you in the future.

How do I start offering 0% APR* to my customers?

Ready to see more revenue and more delighted customers? Get started with Wisetack and start offering 0% APR* financing to qualifying customers. And if you’re already offering financing through Wisetack but want your customers to have even more interest-free options, learn how to do so here.

(Note that at this time, our 0% APR add-ons are only available for businesses in the home services/improvements, dental, and elective medical fields.)

 *All financing is subject to credit approval. Your terms may vary. Payment options through Wisetack are provided by our lending partners. For example, a $1,200 purchase could cost $104.89 a month for 12 months, based on a 8.9% APR, or $400 a month for 3 months, based on a 0% APR. Offers range from 0-35.9% APR based on creditworthiness. No other financing charges or participation fees. See additional terms at http://wisetack.com/faqs.