No joke: customers really can pick their monthly payments with Clicklease. When the application is approved, they can select one of three amounts that vary based on the length of the loan. Customers have transparent, customizable options to empower their decision-making. Here’s how it can help you reach small business owners.
Choices Allow More Budgeting Flexibility
Choice appeals to everyone, but especially customers purchasing equipment on a tight budget. These entrepreneurs want manageable monthly expenses, an engine to grow their business, and good debt to increase their ROI and demonstrate a stable payment history. They probably already have a range in mind for what they can afford and shop accordingly.
But the ability to choose between three options instead of one take-it-or-leave-it amount grants budgeters additional room to tailor their purchase to their needs. They can take the greater payment over the shorter term, spending less overall, or they can keep more emergency cash on hand by choosing a smaller monthly payment stretched over an extended period. Whatever the budget, Clicklease allows customers to pick the right fit for their balance sheet.
Choices Help Customers with Seasonal Revenue
Sticker price overwhelms customers—especially on big-ticket purchases like houses, cars, and equipment. The amounts can seem impossible and could scare away customers from buying what they need. On the other hand, you need to charge fairly for your equipment. How can you meet in the middle?
Break it down into manageable monthly amounts. A customer who’s hyper-focused on keeping their expenses down thinks about cash flow and how a large equipment purchase would fit into their budget. Suppose you’re working with small business owners who operate on shorter-term forecasts. In that case, they might not feel confident enough to estimate their earnings over the period of time during which they plan to use the machinery. But a monthly payment keeps it easy: your customer doesn’t have to look too far ahead, and the amounts are digestible next to the expected ROI of the purchase.
What about customers who have variable cash flows? The ability to weigh a lower or higher monthly payment against their forecasting gives them some wiggle room. If they experience seasonal swings in revenue, they can play it safe and take the lower option. Or, if they have a budget set aside for equipment purchases, they can try to knock out the payments more quickly. Either way, they have both the information and the decision in their hands.
Flexibility Allows Credit-Challenged Customers to Manage Risk
Over 20% of credit applicants in the US were turned down last year. Rejections for traditional lending are soaring amid pandemic conditions, and small business owners need a lifeline that won’t destroy their remaining capital. You can both help them bounce back and safely scoop up customers that other vendors miss by offering point-of-sale financing.
For these credit-challenged buyers, Clicklease offers two huge benefits: a higher approval rate that doesn’t require a hard credit pull and the flexibility to pick a payment that works for their budget. Having multiple payment options allows them to consider how much risk they’re willing to assume and what they can and can’t afford. Plus, it allows them to regain financial control and boost shaky confidence after suffering rejections.
Giving customers the luxury of transparent choice in their equipment financing will make you a trusted vendor for their business, and it’s a no-fee, risk-free way for you to get full payment upfront. Learn more about how Clicklease can help.
