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Old 02-26-2013, 11:15 PM   #1
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Credit Apps


Does anyone know if salesman at companies that manufacturer and install the product get bonuses or anything if a client fills out the app?
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Old 02-27-2013, 03:24 AM   #2
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Re: Credit Apps


I've never heard of it. I am assuming you are talking about credit apps for financing?

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Old 02-27-2013, 07:53 AM   #3
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Yeah. They want pretty much said they "need" me to fill one out in order to do the work for and explained to me the "benefit" of not having to pay for 30 days.

I'm talking about a product that is $1000-1500 installed.
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Old 02-27-2013, 11:29 PM   #4
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Re: Credit Apps


I could see from a legal standpoint, them needing at a minimum YOU to SIGN it.

Whevever we have a client that needs financing..our guys fill the forms, however they have to obtain the information with them there and gather the sig. Without the sig, we can run into legal trouble for running the app through "without consent".

Is it financing in house? Or are they going through another creditor like wells or GE?

I wouldnt get to caught up on it
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Old 02-28-2013, 01:22 AM   #5
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Re: Credit Apps


I've had a few suppliers that gave me a hard time about paying up front. I don't think it was a commission thing as much as a lazy-salesman thing. It's possible that the company would rather send out a monthly invoice and hope to get a check rather than have to pay processing fees.

The lumber yard 5 min from my house wouldn't give me a full discount without a credit app when I first started here and it rubbed me the wrong way. Four years later I still do all my business with a yard 35 minutes away and they happily accept my money and deliver same or next day.
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Old 02-28-2013, 08:24 AM   #6
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Re: Credit Apps


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I've had a few suppliers that gave me a hard time about paying up front. I don't think it was a commission thing as much as a lazy-salesman thing. It's possible that the company would rather send out a monthly invoice and hope to get a check rather than have to pay processing fees.

The lumber yard 5 min from my house wouldn't give me a full discount without a credit app when I first started here and it rubbed me the wrong way. Four years later I still do all my business with a yard 35 minutes away and they happily accept my money and deliver same or next day.
Which yards do you use? I have specific salesmen I use at National, UBS and ABC Supply. There's another on Tiogue Ave in Coventry I personally hate too lol.
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Old 02-28-2013, 08:38 AM   #7
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Re: Credit Apps


These guys also service regular homeowners.

As I believe I said, I don't know what the big issue is. You would think someone would just want to be paid according to their regular payment terms and not have to wait 30 days.
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Old 02-28-2013, 10:33 AM   #8
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Which yards do you use? I have specific salesmen I use at National, UBS and ABC Supply. There's another on Tiogue Ave in Coventry I personally hate too lol.
I use UBS for most of my building materials. There's a great hardware store called Jerry 's in Narragansett that also has good tools.
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Old 02-28-2013, 01:47 PM   #9
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Re: Credit Apps


Quote:
Originally Posted by BamBamm5144 View Post
Yeah. They want pretty much said they "need" me to fill one out in order to do the work for and explained to me the "benefit" of not having to pay for 30 days.

I'm talking about a product that is $1000-1500 installed.
Strange, like somebody is telling you the wrong thing, thinking it's right/policy.

Or it really does smell like an incentive program if true. And if you show up with cash or certified funds they won't sell/install for real?

Only thing I've run across, in discussion research only,- possibility of warranty type insurance through the finance company and thus relieving manufacturer of those costs.

Just on principle, did you offer payment in certified funds up front?
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Old 02-28-2013, 04:02 PM   #10
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Re: Credit Apps


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Originally Posted by Texas Wax

Strange, like somebody is telling you the wrong thing, thinking it's right/policy.

Or it really does smell like an incentive program if true. And if you show up with cash or certified funds they won't sell/install for real?

Only thing I've run across, in discussion research only,- possibility of warranty type insurance through the finance company and thus relieving manufacturer of those costs.

Just on principle, did you offer payment in certified funds up front?
I told them I will pay them exactly to their terms.

It isn't like I said no, I'm not filling out a credit app and in only paying you on the 15th of every month.
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Old 03-04-2013, 10:27 PM   #11
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Re: Credit Apps


Is the line of credit "in house" with the supplier or is it through a bank/financial institution?

If it's through a bank, there is likely a incentive behind it... Just like car dealerships and department stores.

If it's in house financing, it may be so the have your social and full info, in case you burn them down the road. That may be a legal strategy if the have your credentials on a form that states policies and such. Not to mention, private financing avoids increased Expesnes for using a credit card that charges them 2-3% per transaction.

quite simply, it may just be to increase customer loyalty Your more likely to shop somewhere that you have an established line of credit.

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