Here at Glassier, we can sympathise with the struggle of wanting to upgrade your home, but struggling to find or save the funds needed to make your home improvement plans come to life.
You may consider the option of ‘Window Finance’, which allows you to upgrade your home now and pay in instalments or at a later date. In theory, this may seem like a brilliant idea! However, on many occasions, this style of Buy Now, Pay Later scheme is a marketing tactic used to draw consumers in, before letting them down or sending them away with a deal that, in fact, is not Windows on Finance.
Finance that appeals on mass
Companies are always looking for ways to gain more customers or retain current customers with better deals than what they have previously received. Offering window finance options allows the company to target a wider audience. They are able to target their usual audience, who may have a high amount of disposable income compared to others, but also an audience looking to upgrade their home on a strict budget, who do not mind committing to a longer term payment plan for almost instant results. This is beneficial to the company offering window finance, as it opens a broader reach across audiences.
Why a window finance offer may not be as clear as it seems
The biggest issue with 0% window finance is that it does not make the company offering the finance option any money. This is part of the reason why every homeowner looking to upgrade their home should be wary of offers of 0% or interest-free finance because, in most cases, it does not necessarily mean what it says. By offering 0% finance to all of their customers, the company would be leaving itself out of pocket on their profit, which is an option that most companies would not be willing to take or accept. Despite this, it can be a compelling marketing tactic for companies to use to gain more interest in their products.
We have detailed below some of the reasons home improvement companies may offer window finance on the surface, but how these offers can be disguises for other sneaky sales or marketing tactics.
Increasing their product or service cost
Some companies use finance options as an opportunity to increase their product or service prices. This enables them to incorporate the cost it is for them to offer the finance option into the cost of the product or service itself. Unfortunately, this then leads to the consumer spending at a higher rate over a more extended period rather than investing the entire amount initially at a lower cost rate.
This can also have the opposite effect if a company chooses to offer 0% window finance without increasing their product or service cost. To counteract or absorb the loss of profit they would incur by providing window finance without increasing their prices, it may leave room for the company to decrease the quality of the products they are installing, or may result in a lower level of aftercare offered to the customer, in a bid to make up for some of the lost profit. This will have a longer-term effect on the business’s reputation than it would if they were to increase their prices, hence why many companies choose to do the latter to make up for the profit loss when offering window finance.
Increasing minimum spend
A common trend when offering window finance options is also to make the consumer’s minimum spend higher in order to avoid paying out on the finance. Making the minimum spend to qualify for window finance exceptionally high means that more consumers may not go for the window finance option, therefore meaning that the company can avoid paying out for the finance or losing profit by offering it as a purchase option.
Does Glassier offer window finance?
Here at Glassier, you can be assured that any offer or deal that we offer is completely transparent. We are proud to serve our customers, and we have built a reputation based on transparency and honesty with our clients. We consider every offer we are able to offer to our customers and ensure we are not mis-selling or misleading our customers with our marketing. We pride ourselves on providing high quality products and even higher quality customer service and aftercare to our customers, at affordable prices.
Want to upgrade your Worcestershire home?
Glassier offers a wide range of windows, doors, conservatories and garden rooms to homes across Worcestershire, along with replacement conservatory roofs. We are FENSA and CheckaTrade approved, and we ensure that all of our products are manufactured and supplied by reliable and local companies. Get in touch with our team of friendly experts to discuss your home improvement projects today. Alternatively, you can start your online quote with us.
We look forward to assisting you with your home improvement needs.
