How “In-Home” Layaway Differs From “Regular” Layaway

2 Jun

cff3Layaway Is Becoming Obsolete
That Layaway is becoming obsolete is a blessing, and it is a curse. It’s a blessing because it indicates greater convenience for customers and merchants. Now, instead of having to wait for pickup on a given item until enough money has been accrued, a down payment can be made and the item taken home immediately. There’s the blessing angle. The difficulty comes in an economy that has been so blighted in the wake of 2008’s financial recession that regularly lucrative customers now must rely on such leasing options. Oftentimes “Credit scores” are no indicator of actual “credit”. Beyond credit agencies making mistakes, there are items which influence such scores in a bureaucratic way that doesn’t necessarily describe someone of bad or good credit. A person can obtain good credit by getting a cheap monthly bill from a group that reports to a credit agency, and regularly paying that bill. If they get a good score this way, it doesn’t necessarily mean they can handle an exceptionally expensive purchase over time; even if their credit score indicates as much. Meanwhile, a poor credit score obtained due to a change in jobs or a divorce may not necessarily have anything to do with the individual’s financial stability. Ergo leasing organizations like Crest Financial provide a win-win solution via In-Home Layaway. In-Home Layaway works the same way mortgaging a home or financing a car does: a series of monthly payments managed over 12 to 24 months is collected, and as each payment is made on time, the person paying gets a positive mark on their credit. They get the use of that which they finance, and good credit at the same time. Plus, there are many options which don’t require additional interest.

Advantages Of In-Home Layaway To Retailers
Retailers who would otherwise have to deny a financing solution to a willing customer can now allow greater flexibility in who they sell to. Leasing companies like Crest Financial act as a surrogate credit source, ultimately increasing the available customers a business can align with themselves.

Some notable advantages of leasing companies include:

  • Customer Retention
  • Dependable Financing
  • Increased Consumer Constituency
  • Increased Profit
  • Increased Inventory Circulation

There are no shortage of items which negatively affect credit and restrict otherwise able buyers from obtaining that which is needed or desired. But with options like Crest, retailers can send a helping hand to those individuals who’ve been shuffled aside by credit agencies. In so-doing they can help get them on the right side of their credit report, and simultaneously move inventory. Such solutions are a “win-win” across the board.

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