Thousands of tire dealers across North America have turned to no-credit finance providers as a way to reach more customers and capture additional sales at the front counter. And now, with the economy in a constant state of uncertainty thanks to COVID-19, dealers say this service is even more critical.
Payment plans for automotive repairs are turning new customers into repeat customers for Mac Wheels and Tires LLC. The installment loan options engage a new consumer market for the Salt Lake City dealership.
In its roundup of credit options for tire retailers, Modern Tire Dealer reached out to American First Finance (AFF), which offers both installment loan programs and lease-to-own (LTO) programs. Here's an overview of AFF's options.
Consumers expect to see a variety of payment options available wherever they shop, and their local tire store is no exception. One way to open up a tire store to more tire buyers is to offer affordable monthly payment plans that do not rely solely on a credit score for approval.
Lease-to-own (LTO) agreements give tire dealers the ability to offer a payment option for consumers who may not qualify for or do not want traditional financing. Here are 8 questions to ask when choosing an LTO payment program.
There’s a segment of your potential customers with poor credit and without cash to buy tires. That leaves you in the position of either not selling them tires or working with them to secure alternative financing.