GE Consumer Finance

CSB

Has anyone used GE Finance? Has it helped you make sales? What are the fees/costs associated with the service?

vinylguy

we mostly use key bank much better in my opinion ! however if you are not useing afc 1st you should be ! all part of the energy savings program here in pa,

DamionR

We use GE and Key Bank. Both work. Only drawback we have is with their second chance-type financing (forget the name of it). They charge us a pretty big percentage of the job just to get the customer financed.

All in all, GE is defintly worth it. They do work to get the customer financed.

__________________

- Free Contractor Marketing Tips & Performance-Based Lead Generation Services.

Patrick

Anyone have a link to the GE program? Do you have to be able to sell so much financing in a year to use the program?

DamionR

http://www.gemoney.com/small_busines...nce/index.html

That is the link to the page on their site.

I'm not sure if they have requirements on volume. I'm sure a phone call would get that answer for you

__________________

- Free Contractor Marketing Tips & Performance-Based Lead Generation Services.

vinylguy

your not required to sell x amount of finainceing however to get signed up with them you need to do at least a million in sales a year! hey if you think thier second chance is bad try using home plus finance sometime, i won't do it to my customers or myself. heck they want 17% of the total job cost for thier fee from you plus what they charge the customer and i know they need to make money for taking a chance on some of these people but some of the people actually do pay thier bills and have just run into a down turn but are working thier way out and if they use these guys they will never see the light at the end of the tunnel.

Ed the Roofer

Does that mean one million financed through them, or just one million in total volume done through your company?

Ed

CSB

I found a friend who uses GE finance for his flooring business, and they only did $250k in sales last year (the year of startup). When I get back in town I'll be calling them to get all the details.

shed-n-deck

I tried to set up with GE finance a couple months ago, but I had a problem contacting them...I would get a call from their rep, and I would return it, but always while she was busy....When she called me, I was either busy, or out of a decent phone service area...So I gave up and started looking for local financers.

__________________
Shed

sales guy

GE can be hard to get your local rep to stay in touch, but they have great programs. We sell so much with their no money down program. It has probably added 15 to 20% more volume to our three locations.

If you are not using american general, they are very good for us too! We can offer a real flexible payment plan through them. They offer 3, 6, 9, 12, or 24 months same as cash. The 12 and 24 months programs do cost use a couple points.They are very easy to work with, and we have a local rep that is always resposive to our calls.