View Full Version : Finacing landscape projects @ 7.9%
03-25-2005, 04:47 PM
Anyone here using John Deere partnership programs to help customers finance there landscaping purchase? The way it works after talking to JD is that if you buy 25k a yr. in materials from them and pay a 1 time fee of $300 they offer to finance your customers landscape projects for 7.9% fixed rate for 48 months.I want to know if anyones using the program and have many customers taken advantage of the longer term financing? I already accept CC but if the offer of the 48 month financing would sell many more jobs I would consider using JD although there prices are more than I pay now for materials and supplies. Also if you guys have had a good experience and find that quite a few ppl. take advantage of the financing program I might set one up through my bank where all I do is have the customer fill out a credit app. and call it in to find out whether there approved or not. Also with there partnership programs there suppose to supply you with leads for new work residential & commercial, although I figure that there just sending you ppl. that are price shopping, I'm curious if anyone can shed some lite and there experience with the program. :help:
03-25-2005, 05:15 PM
Is this done through the John Deere Landscapes program? I've seen that and wondered how that would work. I don't do any landscaping at this point but I would also be interested in what some of the guys/gals say.
We offer financing. We have made connections over the years with various professionals in many areas. I have a mortgage loan officer and other bankers we refer people to. Cst's can refi their mort pymnt for a landscape project (home improvement) therefore their payments can be deduction at the end of the year as well. Plus by me referring to a loan officer I get a small kick back in return. Make a good connection and refer eachother bitness. Works for us!
We accpet credit cards also. Another great way for customers to finance their own pruchase.
But really, if people don't have the money for our services most often you don't want work for them anyway.
03-26-2005, 08:32 AM
we are on the partners program, but have not had anyone take up the offer as of yet.
most of our work is at $500K + vacation homes. The clients just pay cash.
03-27-2005, 09:43 AM
We checked into it about two years ago and decided against it. First off, the rate wasn't all that exceptional. Secondly, and probably more importantly, JD takes a percentage of the sale from you (unless they've changed that since then), something like 5% or so (I can't remember how much, but it was more than they should have been taking IMHO).
The local bank could have offered a finance program that was as good (or better) than what JD offered. Plus, we don't get much call for financing projects.
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