Brought to you by Snap Finance.
According to Experian, 35% of Americans cannot access traditional financing options, thereby limiting their ability to afford household commodities or cover unexpected expenses.1 Lease-to-own financing bridges the gap between customers building or rebuilding their credit and the things they need and want, giving retailers the opportunity to grow their customer base.
When a store has limited financing options, customers with credit issues will either settle for the least expensive item or leave empty handed after being rejected. Conversely, retailers that offer a lease-to-own option see a significant boost in their average order value from consumers who now have higher spending power. Satisfied customers will return whenever they need, resulting in increased repeat business and incremental revenue for businesses offering lease-to-own.
Flexible consumer financing not only allows the customer to get what they want quickly; it also minimizes repayment risk from the retailer by funding each transaction as soon as two days after the customer receives their purchase. And with no complicated software integrations, businesses can start growing their customer base and revenue from day one of their partnership with their financing provider.
This model of financing is becoming popular among retailers and stores who recognize this need and the many advantages it brings.