Sell a Monthly Payment
In most large ticket selling situations, it is much easier to sell a monthly payment than it is to sell a large total purchase.
If you go to a car dealership, the primary qualifying question asked is, “What kind of monthly payment are you considering?” Advertisements on TV, radio, and in print tell about the “low monthly payment” on many, many products.
WHY? The reason the monthly payment concept is so widely used is because it works. People feel comfortable talking about $1,100 per month, but feel $50,000 is more than they can afford. An employer does not pay an employee five years salary in advance, they pay monthly! The same principle is true with equipment financing.
How does that relate to your company? You may have been in the habit of selling the total investment on a piece of equipment. If you start selling monthly payments, you will see an increase in units sold and an increase in your average dollar volume per units sold.
If you begin thinking in terms of affordable monthly payments it’s almost certain that sales will grow!
Some customers do pay cash, but you have a viable alternative to offer if your prospect cannot or will not come up with the full amount of the transaction. That alternative is financing!
Use the monthly payment approach to convert a “can’t afford it” or “will get back to you” into a satisfied customer via financing!
Most salespeople who use financing to their advantage have the approximate monthly payment pre-calculated on the desired equipment. This payment is then quoted to overcome the customer’s main concern — “How much will it cost”?
Use the unique Commercial Funding Payment Tool and it will calculate the approximate monthly payment and purchase option for your next prospect.
Turn that lead into a sale!!!!