40% of small business owners—your customers—consider themselves to be financially illiterate. They don’t understand how financing, credit cards, and cash flow work. Many customers will default to swiping a credit card, even if it isn’t the best option for them.
Here are 5 reasons to offer a variety of financing options, beyond just cash and card.
29% of Americans (and 50% of adults under 40) don’t have a credit card. And cash isn’t always an option, especially for an urgent purchase.
The average APR for new credit cards is 20.8%. Compounding interest makes credit cards expensive in a hurry.
53% of active credit cards carry a balance. Carrying a balance can make it extremely difficult for a customer to know exactly what they’ll pay overall, especially since APRs are usually variable.
Experts suggest keeping your credit utilization rate below 30%. Putting a large expense on a credit card can impact a credit score long-term. Clicklease financing doesn’t affect credit utilization rate—and saves available credit for expenses you can’t finance.
Credit card companies add fees to every single transaction that can add up to 5% of the total price. That can add up quickly.
Plus, Clicklease is always free for sellers.
Learn more at clicklease.com