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Finance options for vehicle wraps?!!!!
This is a thing I have been trying to organise for a while.
As far as vehicle wrapping goes, the price is the hardest part for a potential customer to stomach.
So I am trying to source a way of financing wraps for customers, as showing them how much a month is a lot more appetising than a lump sum.
Has anyone tried to or is actually offering this sort of thing?Thanks
SC -
13 Replies
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are you offering to finance their wraps or try to sorce someone that will?
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I’ve looked at this. The trouble is.
Consumer Credit Licence if you’re dealing with individuals/sole traders
What if they default on the payment? You (and them) can remove the wrap but there’s not value left in the removed material.
You could look at offering 3 monthly payments as I don’t think you require a CCL for 3x payments.
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Yes a Consumer Credit Licence costs only £260.
But I am only interested in trying to find an easier way for customers to pay rather than a lump sum thus making it look more appealing and generating more business.
The average customer only wants to know how cheap, and if you can break it up into more manageable pieces it becomes more likely to make a sale.
I personally do not want to offer finance, as in this day and age everyone and the next guy wants something for nothing.
If you offered 3 monthly payments you would only ever see the first month, followed by a lifetime of this customer bad mouthing to everyone about how you hassled him for money!!!
I have talked to a guy who deals with credit and finance and he is thinking something like a personal loan but this would have to be guaranteed against something.SC
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What’s wrong with taking a card payment
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If it was only that easy….LOL
Most people have cards that are maxed out anyway and are just looking for another option. -
quote Sean.Cully:If it was only that easy….LOL
Most people have cards that are maxed out anyway and are just looking for another option.not being funny mate. but customers that cant really afford £1000+ for a bog standard wrap aren’t the ones you should be aiming for to get business from.
they wont want to pay the going rate.
they are always the most difficult to please.
and sure as sugar, the slightest little thing and they will want a discount!save the tyre kickers for the cowboys mate…
oh and nothing really wrong with financing like this as its done in countless products, but for the type of thing you are offering, it could leave you wide open.
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quote :Most people have cards that are maxed out anyway
If that’s the case why would a finance company/loan/you want to lend them more money?
quote :If you offered 3 monthly payments you would only ever see the first month, followed by a lifetime of this customer bad mouthing to everyone about how you hassled him for money!!!And what’s to stop your customer doing the same to a finance company? And there finance company will no doubt open the gates of hell to get their money back which will pi$$ off your customers even more.
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Funny I have been thinking along those lines too, Sean.
Everything else is sold on finance, why not wraps?
Simon. -
My issue is that I can spend a lot of time trying to sell a customer a wrap and the big issue is they cannot afford it in one complete outlay.
This is due not to being not able to price these jobs, or effectively sell them but based on the initial outlay.
And when all is said and done most of the customers truly do not realise the time in design, time involved fitting and cost of materials that go into this sort of thing.
I must quote 3-4 wrap jobs a week that the customer expects to only cost a couple of hundred quid at most !!!!
How can we sell anything when the materials alone cost that even before the printing and application time can be brought into it!!!?For example we have a car sales lot next to us and they do pretty well selling vehicles on finance but very very few are bought outright unless the vehicles is particularly cheap. This is the case for some sort of finance for these type of wraps and advertising.
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Simon
I’ve been in this business way to long to realise I am and you are not a finance company, bank or charity.
I give you an invoice and I have to be paid there and then. No 30 days and no excuses.
My customers who now get credit know that 30 days is my absolute maximum.
Invoices are issued as the job comes through the door. I have had companies complain that I can’t do this but I have noticed they have adopted similar policies.Slow payers are potential back stabbers due to how you get your money back.
Believe me, and the worst ones are so called friends and family! -
Sean
I have edited out that part of the post – I felt it was a bit too moany.Funny when I had a sign shop in London I would not start a job until I was paid 50%, and remainder on completion.
When I came out here to NZ, the culture was completely different.
Everyone knows everyone else, and all was trust.
You finish the job then bill for the following month, 20th day.
Now that worked very well, but as the town has grown, the payments have been getting slower. I USUALLY have at least $20-30,000 dollars owing me, at least a month overdue!!!!
I am not worried about eventually getting paid – I make an angry phone call and all but the biggest companies pay up immediately, but It would be great to get some interest for this money!
If I could offer them this option right at the beginning, all would be sweet.
Sure Ill be your bank! What sounds reasonable? 5%? 10%?
More? They are paying that for their loans, anyway. I would like a piece of the action.
The thing is, I am not alone.
These sums are floating around the whole NZ economy, with the same antiquated system of trust and handshake.Simon.
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Surely when someone first enquires about a wrap you give them some sort of idea what it will cost?
Yes there are lots of people who think it will only cost a couple of hundred quid but in my experience these are the people who wouldn’t have the car wrapped if they knew the real cost. -
credit and finance is fine for stuff thats really needed, cars, household items etc that people are not goin to default on.
what happens 12 months in and the wrap or car is damaged etc , customer still going to be happy to pay ? theres a lot of people out there who dont mind having a bad credit score!
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