Here at Carera Windows, we’re passionate about providing our customers with premium double glazing across Worcestershire & the West Midlands. We offer windows, doors, conservatories, replacement roofs, verandas and carports that are fit for installation in any home, whether modern or traditional. As part of our commitment to you, we aim to empower homeowners with the latest knowledge surrounding the home improvement industry- so they can always make the best choices for their homes.
At Carera Windows, we are dedicated to unveiling the secrets of the home improvement industry- and shining a light on finance packages as they exist in today’s market. With the cost of making home improvements higher than ever, homeowners need access to all types of financing options. It’s true that some of these packages may seem reasonable on the surface—but take a closer look and you’ll often find price markups and complex sales strategies that’s sure to confuse any customer! Let’s dive deep and examine home improvement financing together in this article.
What Does “Interest Free Credit” Mean?
How does interest free credit work? Well, let’s start with the basics! No matter the situation, you can’t borrow money completely free of charge. Interest must always be paid by someone- but an interest-free loan arrangement is something that’s often offered as an option for homeowners in the home improvement industry. In this scenario, you can borrow a fixed sum of money for your home improvements over a predetermined amount of time, without any interest charged to you. These arrangements often do not necessitate a down payment, so you won’t need to provide cash upfront until the direct debit payment is made after the installation is finished.
In the home improvement industry, many ‘interest free credit’ schemes make it seem like an attractive option to purchase the home improvements you’ve been dreaming of. However, once the installation is complete, the high interest payments charged by the finance company must be paid for somewhere. This can set the retailer back by up to 25% of their installation fees! To counter these costs, the interest payments must be recouped in some way. Where does the interest go? The answer might shock you!
Sneaky Sales Tactics
There’s a few options open to home improvement companies when it comes to their “interest free” finance options. First, the retailer can charge their services at a heavy markup, meaning they make more profit on their work to begin with. The alternative for the retailer, then, is to take a substantial loss on their profits in order to offer interest free options. This can affect a myriad of things- for example, the quality of the work completed, the products installed, and the aftercare provided by the installer. These oversights can make for bad business.
Another problem with interest free credit schemes is that they are reliant on the customer being able to pay back substantial amounts of money over a number of years- a commitment that can definitely be hard to keep. Circumstances change as life changes, and it can be very difficult to sign up for one of these schemes and say decisively that you’ll be able to make the repayments. Owing money to these schemes can be costly, and could land you in debt or further trouble. Either way, this situation is no good for the consumer- who deserve home improvements without the extortionate price tag for years on end.
Should I Trust Windows on Finance?
Here at Carera Windows, we care about providing our customers with the most transparent sales information they can get. That’s why we make sure to carefully consider any deals we’re able to offer, and why you won’t see us engaging in hard sale or misleading tactics to provide them. We take our time to provide customers with the best home improvements on the market, at affordable prices for any homeowner. Always enquire about the price, quality of the product and that is where you will find true value for money.
Looking For Home Improvements in Worcestershire & West Midlands?
Contact Carera Windows today. We install a range of high quality home improvements for customers across the region, with a perfect finish each and every time. We make customer service a priority, so that you’re always given outstanding customer care you can trust- even years after your installation is complete! If you’re looking for a bespoke collection of windows, doors, conservatories, verandas and porches, contact us today.
Start a free quote online with our online quoting tool, or email us at sales@carerawindows.co.uk. You can also give us a call on 01384 442490. We look forward to hearing from you!
