Offering financing is an easy, fast way to increase sales and grow your mattress company. The right mattress is essential for a good night’s sleep and improved long-term health and quality of life. Accessible financing helps more shoppers choose the mattress they want and need on their timelines.
Your financing partner plays a huge role in your sales, customer satisfaction, and the sales trajectory of your mattress retail store. You need to know which questions to ask to choose the right firm. Read on to learn how to choose the best consumer financing company for your mattress store.
Is Consumer Application Easy, Fast, and Paperless?
Buying a new mattress is a big financial commitment. With most mattresses costing between $1,000 and $10,000, consumers need affordable, flexible payment plans that empower them to make their purchases. As shoppers peruse your showroom or browse your inventory online, introduce financing options as quickly as possible.
UCFS makes financing the logical choice for your patrons by offering a simple and quick consumer application. Shoppers decide on their mattress, then apply for financing in your showroom or from the comfort of their home. The online credit application takes three to four minutes to complete. Once approved, the customer eSigns their repayment agreement on their phone, tablet, computer or on the device in your store.
A smooth and straightforward financing application reduces friction in the buying process, streamlining your mattress sales.
How Quickly Is a Credit Decision Sent?
Big-ticket purchases like mattresses are emotional and logistical decisions. Shoppers browsing new mattresses can feel intimidated by the high cost. Consumer financing options mitigate those feelings, because you are providing low monthly payments instead a large upfront amount.
UCFS provides a credit decision almost immediately, allowing you to harness the eager energy of your shoppers and guide them along in their purchase. Reducing the time between application submission and the credit decision helps you keep customers excited about their mattress and moving forward with their purchase.
Is the Consumer Financing Approval Rate Inclusive?
Consumer financing allows more customers to shop your mattresses and increase their purchase power while shopping. The financing company you choose for your mattress business must offer high approval rates to maximize the volume of customers you can reach and serve.
When financing is available to those with average credit, you make mattresses accessible to shoppers who might otherwise postpone or forego their purchase.
Financing from UCFS empowers customers to shop at your mattress company freely, confidently, and happily. The affordability and flexibility afforded by financing with high approval rates allows you to cater to a broader spectrum of shoppers, increasing sales.
Are Repayment Terms Consistent and User-Friendly?
Consistent, transparent repayment terms are crucial for a quality consumer financing program. UCFS ensures there are no surprises for your store or customers. Unlike credit cards with variable rates or high APRs with very low minimum payments (which can take more than ten years to pay off), UCFS maintains consistent rates with reasonable repayment timelines.
Credit cards can harm shoppers, especially when they include astronomical interest rates. If your customer charges their mattress to their credit card for $3,000 with a 34.99% APR, and if they pay $100 each month, it would take 4 years and 5 months to pay off the balance, with a total of $2,918.53 in interest. With a retail installment sales contract at 19.99% APR, your customer could pay $112 a month for 3 years, with approximately $1,014 in interest. That’s almost three times as much interest if a consumer uses their credit card, instead of consumer financing. And the balance is paid off in 17 fewer months!
With consumer financing through United Consumer Financial Services, customers can more easily afford low monthly payments and enjoy consistent terms and expectations throughout their loan repayment.
UCFS also offers an autopay feature, which makes monthly payments effortless. Autopay helps shoppers make payments on time and allows them to budget for each month’s automatic withdrawal. Once they’ve started their repayment plan, they don’t have to remember to manually make payments or worry about forgetting a payment. The only thing they need to do is enjoy a great night’s sleep on their new mattress!
Does the Financing Company Cater to Your Mattress Company’s Needs?
Your financing partner should be just that: a partner. That means they should cater to your customers’ needs as well as yours.
United Consumer Financial Services has served businesses like yours for over four decades. We know the unique challenges and needs of our clients. We’ve built our program to proactively meet those needs so you can focus on selling more mattresses and expanding your business.
- Prompt payment
Maintaining positive cash flow is critical to the health and sustainability of your mattress company. UCFS delivers payment to your account within one to two days after your customer signs their contract and buys their mattress so that you can invest your earnings back into your business almost immediately.
- Customer support
Our US-based customer support team assists you and your staff with our financing expertise.
- Staff Training
Our team trains your sales staff to effectively offer financing to help you sell more mattresses.
- Loan Repayment
We handle consumer repayment for the life of the loan. Your team isn’t responsible for customer follow-up or collection; we take care of that for you.
These are just a few of the many ways United Consumer Financial Services serves your mattress company as you deliver financing support to your customers.
Does the Financing Program Help You Sell More Mattresses?
This is the most important question you can ask of your consumer financing company. The ultimate goal of a consumer financing partnership is to increase sales, revenue, and profits. UCFS’s consumer financing program is designed to draw shoppers in, make high-value mattress purchases accessible and affordable, and increase consumer purchasing power so that you can sell more. And the best part is that we make it easy for your team.
We handle loan repayment collection so you can focus on the day-to-day and big-picture tasks that demand your attention and energy. High approval rates and low, affordable monthly payments make your mattresses accessible to the highest volume of shoppers.
UCFS helps your mattress company sell more. Becoming a merchant is easy, and you can start today.
Connect with our team to learn how choosing UCFS for consumer financing helps you serve customers with affordable installment loans that allow them to select the mattress of their dreams.