How To Get Any Contractor To Accept Your Financing

How To Get Any Contractor To Accept Your Financing

You have been planning a home improvement project for what seems like forever, and now your main concern is around the financing. You could wait until you have saved the necessary money to fund the project, but that could take far too long and the project is important now. You have also heard the horror stories about the financing that home improvement contractors offer, and you know that many contractors imply that they are your only option.

Know this, it quite simply isn’t true! They imply it, without saying it, hoping that you will snap up their offer of 18 months’ interest free no payments. Those offers, though, tend to come with strings attached. Now, you may not realize what strings there are, but they are there and I’m happy to tell you about them.

With the financing from a home improvement contractor, comes a hidden merchant fee. Now, you assume that it is up to the contractor to pay that fee, because you have your financing and that’s that. That fee can be as high as 17%. Which means that your contractor is going to apply it to their labor fees and the cost of equipment. You are going to pay more for your home improvement project to cover their merchant fee.

Just by accepting their offer of financing you are driving up your own project fee costs. You are going to pay more for the renovation, simply by opting to choose financing through the home improvement contractor. This might annoy you, you may feel as though your contractor can’t be trusted because of this- but the truth is, every business needs to improve their bottom line in these difficult times. So, the contractor is simply trying to make more money from the deals that he makes. That, however, does not mean that you have to go along with it!

So, how is it that you can get financing elsewhere and use it for your home improvement project? It’s simple. Find your own home improvement loan through a reputable third-party financing company and use the funds directly. You can compare offers from a variety of financing companies to ensure that you find the best possible offer.

Your contractor does not need to know that you have obtained financing to pay for the project. As far as your contractor is concerned, you will be paying cash for their services. For you, you are getting the best possible financing deal for you and your home improvement project. So, you can sit back and watch your contractor complete your dream renovation project with the knowledge that you financed it the most efficient way possible. Why spend more money than you need to just to save a little bit of time searching for a better offer? Plus, with a third-party financing company you don’t need to worry about hidden fees written in to the fine print.

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