Retail

Simple Tire Adds Katapult Financing for Shoppers

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Online tire shoppers who buy from Simple Tire LLC will have access to an alternative financing option through Katapult Holdings Inc.

Katapult offers lease-purchase options to consumers.

Kenny Pratt, co-founder and chief technical officer at Simple Tire, says, “The need for new tires sometimes occurs unexpectedly. By partnering with Katapult, we can now offer our customers another flexible way to purchase from our huge catalog of quality tires. It’s another great way we keep our customers going.”

Katapult partners with both e-commerce and omnichannel retailers. The company says a retailer who adds its financing option for consumers opens the door to reaching and converting new customers and helps increase transaction volume and customer loyalty.

Consumers are approved for the financing quickly and experience a seamless checkout experience at the time of purchase.

“When it comes to replacing or buying new tires, when there is a need, it’s typically immediate,” says Orlando Zayas, CEO of Katapult. “Unfortunately, this isn’t an expense that most consumers plan for, which is why I’m particularly excited for this partnership with SimpleTire. Lease-to-own offers consumers the additional flexibility they may need to purchase the tires that will get them to work or wherever they need to go, while still keeping their monthly expenses in check. In the face of current macroeconomic challenges such as high gas prices and rising inflation, this option enables consumers to stretch their dollars even further while still purchasing the items they need.”

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