TERMS AND RATES
What is Annual Percentage Rate?
Who should you offer financing to?
What is Everyone, Every time.
When customers worry about credit impact, you can explain this tool.
What is Prequalification on the waterfall?
Offering financing can increase average ticket and overall sales
What is...DUH!!
A way to buy now and pay over time.
What is financing?
A type of financing where customers make equal monthly payments with no interest charged during the promotional period
What is equal payments no interest?
%
What is our drop off percentage?
The customer pays off a 12 month promo in 13 months they will pay the full amount of the purchase in interest from the begining of the promo.
What is True
The maximum amount a customer is approved to spend using their financing account.
What is a credit limit?
The customer pays off their purchase within a promo period.
What is deferred interest?
Customers purchasing large-ticket items expect to hear about financing early in the buying process and often make their purchase during their first in-store visit—so financing should be introduced early and often, well before checkout.
What is the importance of introducing financing early in the sales process?
What do you do if a customer gets a prompt to call Synchrony
What is pending credit decision
what is true?
**If paid within the first billing cycle it will not
A benefit of offering financing that helps customers afford larger purchases or upgrade their selections.
What is increased buying power?
The number of months we offer "Equal Payments no interest".
What is 36, 48, 60, and 72 months?
The fixed APR with Synchrony can be used on all sale amounts.
What is True?
A key factor used to determine approval
What is creditworthiness?
What does 60 months cost us as a company?
What is 17.64%?
A guest can pay what they want to as long as they pay off their contract within the promotional time frame.
What is false.
*All terms require a "minimum monthly payment"
The tool TPG requires every associate to present to their guest when asked about pricing.
What is a 6 box?