Home Improvement Loans Gardena CA

Most contractors find that people who finance home improvements tend to spend more than those who pay cash. Contractors who understand the various types of credit products and know how to present them will be more likely to lead the customer to make the decision to finance.

First, however, you must determine whether someone is a candidate for financing. The only accurate way to do that is by asking them to fill out an application, and to pull their credit score. Some salespeople try to pre-qualify prospects on “instinct,” taking cues from things like the car in the driveway or the condition of the home's exterior.

According to Matt Hines of American Eagle Builders in Arlington, Texas, that's a sign that the salesperson isn't doing his job, which is to listen to the customer, look at the numbers, and offer solutions. “We had one salesman who refused to follow up on a lead because the house looked old. Another guy went there and got a great deal.” And the tendency to prematurely judge prospects isn't confined to home improvement. “I used to be in the car business,” Hines says. “One day, a guy pulled up to the dealership in an old Cadillac diesel that was probably worth $500. No one else would wait on him, so I did. It turns out he owned five banks and became my best customer. He bought every vintage sports car that came through that dealership.”

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