THA 129: Customer Financing Options

Check out this episode’s Customer Financing Options. What options do you have to help your customers with credit choices?  There are many vendor credit options to choose from and they are great. Maybe you don’t use them, maybe you should. No one wants a customer to walk out on a major purchase especially safety-related. This session is here to help you capture more of the big-ticket jobs. You just may hear a financing option idea or two that you’ve never considered. And that is exactly what we do here, push the envelope on strategies and ideas to help you grow as a leader and build your business. Hear about the acceptance rate of vendor finance programs and a few creative ideas on how to lock in customers with a pre-payment plan. Ever do a comparison of buying new or used vs fixing the vehicle that needs all the work? Have you ever heard of the M & D loan? You are about to. The Panel: Amy Mattinat is the owner and manager of Auto Craftsmen in Montpelier, VT. Her shop is an ASE Blue Seal Shop, AAA approved and she is a member of ASA, SBN & WIAC. Along with running her independent repair shop, she is able to combine her three passions: teaching small business owners how to run a successful business, teaching car care and safety to the general public and educating young people about the many career opportunities available in the auto care industry. Amy was awarded the 2012 Top Female Shop Owner of the Year! The award was given by the Car Care Council Women’s Board, Honored as a 2014 Professional Woman of the Year by the National Association of Professional Women, Awarded the 2015 U.S. Small Business Administration’s Vermont Women-Owned Business of the Year, Awarded the 2016 AAA Business of the Year in Vermont and served as President of Women in Auto Care 2014 through 2016. Listen to Amy’s previous episodes HERE. Leon Martin owner of Auto Tech Services in Rochester, WA, graduated from “corncob college” as his father would say… The School of Hard Knocks… 1st – Eighth-grade training plus self-study courses. He is just a farm boy out of southern Illinois. Leon’s first formal training was by DANA and a ‘Doctor of Motors’ degree in September 12, 1972 Leon has been ASE certified since 1985…A1-A8 L1 C1 and his shop is an ASE Blue Seal Affiliate. He is a Management Success graduate, Repair One Graduate, E-Myth Business Mastery, AMAM Accredited Master Automotive manager and a Ned Tomarchio Supremacy Automotive Graduate. He is part of Elite Pro-service with Bob Cooper and Jim Murphy Leon moved to Rochester, Washington in 2006. He assist a local auto service and working out of a small 29 x 40 shop with a miniature office area. With the help of great people and dedicated techs, the sales average grew with a 20% increase per year for 8 years! Operating at a neighbor to neighbor, bumper to bumper slogan, the shop grew faster and ran out of space. He looked for options because he needs to continue serving his customers in a timely and efficient manner. Considering the challenges like getting permits, restrictions, zoning, costs and new building hindered their progress moving forward. His team started making plans with an existing facility and renovate to their standards. This new project ends up with six bays, additional service area which is...