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Roofing invoice pdf for Finance

report came out last week uh cnbc published an article that says basically 43 of homeowners are holding off on home improvement projects right now uh because of inflation holding on to the cash like there is a scare out there right now a little bit of a recession that's blooming because everybody's talking about it every news channel every youtuber i mean and something is coming would you agree with that yeah i mean i'm i'm not an economist i'm not i don't work the federal reserve i won't make those bold predictions but we're definitely seeing some changes we're here in minneapolis uh we just heard someone talk yesterday about during the covert recession basically one half of the roofing contractors in denver i think the denver market uh went out existence during a three month period over that summer and that's something we don't want to see happen during this looming recession we saw it again in 2008 a lot of companies shut down um and so we're a huge advocate of hey we know what the numbers look like 65 of homeowners financed their home improvement projects last year in 2021 companies that offer financing close 20 or 30 more jobs and homeowners spend 18 to 24 more money with people holding on to their cash we want to make sure that companies aren't getting left behind aren't being casually this looming economy that has a lot of people scared right now so i i think offering financing is not only a really smart solution i think it's a necessary one right now what's the state of the financing industry for contractors because if you look at automotive it's really well developed so many players you go apply for a car you get 10 15 offers just like that i mean almost with any credit you can get good car right i mean you might pay a little bit more but because car is collateral it's still you know pretty safe for financial institutions to give you car loans with home improvements what i've noticed amount of declines is insane um your bosses was sharing story with me how in a bad neighborhood you know out of 100 they would get like two approvals because everybody has low score why is that and is there any players because i know like green sky service finance they're also playing it safe they say they you know same as cash and stuff but if you don't have 750 plus you have pretty bad chances of actually getting home improvement loan why that industry is so different than car industry because in reality you know home is even better collateral or is it yeah so um there are all different kinds of financing uh so when you're looking at automobile obviously you have collateral you know you can always repossess a house it's really hard to repossess a roof uh that is a risk uh that a bank is going to lenders want to take can you lean or what what actions can you take as a finance company if homeowners stop paying for that roof or something or yeah so lenders i mean lenders will go about it any way any other debt collector's going to you know they'll start with you know it could be property leads i mean it could be forced can you affect their credit store a score yeah i mean uh i mean we don't know we're not the lender uh but our partner lenders obviously if you default on something if you can't make the payments um that's we have an effect on your credit score that's going to have you know the normal things just i mean you can repossess i know a few people who will take your roof back kitchen's back it's actually it's actually happening every once in a while yeah you see news stories like someone gets pissed and they go and take it back if you don't pay a contract if you're going to take a roof back that's a lot of work because it's harder to go after the client um there's more denials yeah so there's more risk involved with lenders and and here's the reality um people's all i talk about home loans i mean obviously you know what we hear on the radio what we hear in marketing you know when you hear the the cadillac commercials you know get zero percent you know for 48 months most people don't get approved for that that's basically peyton manning or bradley cooper who's driving those cars commercials those are the people getting approved for those the most average humans not getting proof of that but it's great marketing technique uh the reality of it and it's not misleading i mean if you have this there there's a little fine there's always fine print there's always a fast talking guy at it right you know what they should cover those things you know what they should do you know how in medical uh commercials like my kids cracking it all the time uh when we're saying that we don't have tv so we don't listen to commercials but we go to the hotel and there would be commercial for medicine and at the end they have to read the fine print yeah so it affects my effect like i'm gonna die if i use it they i don't know why it's probably not regulated as much as medicine but they should read out loud about all of that at fine print in financial offers yeah i i think there's i think the general public's been misled a lot about financing i think we've been misled a lot about you know just general economics it's always the sexiest thing out there but you know what doesn't sell like the the median credit score in the us uh isn't a great selling point uh the medium you know interest rate what's that what's the medium credit score uh so i i haven't seen the numbers from this past quarter uh i think last quarter it was 691 in the us uh which is up you know from the year before um it usually hangs around 680 to 690. which is in terms of lenders you know below prime credit when you talk about prime credit usually talking 720 uh when you talk about premier prime credit you're talking 760 and above so what we see in our market is without naming names of other banks you know that's not something we do but you know a lot of approvals um with those really really attractive rates you see it like you know because they're publicly traded companies we know this information uh we see approvals you know at median of origination that's 768 to 775. well hell i'll lends away 15 000 as a 775 credit score that's not a lot of risk that that people are taking on but the contractors also paying dealer fees on top of that so even minigame at risk even more so that's kind of like our model is because you know we have 30 different lenders basically competing for a customer's business uh finding the best rate you know i i don't like saying it but a lot of people say so i might as well start saying it you know it's price line of of consumer finance everyone wants convenience let's find the best thing out there for you uh in the most realistic way so so intensify is the price line of finance i don't know if we're legally allowed to say that i can say it you can youtube where i can say anything i want what are they going to do about it the best practice how to sell finance what do you see it works you do three 400 loans a month like what really works people who sell those three 400 what are they doing that others are not doing so i think the number one thing is they are talking about financing with every single customer every single time it doesn't matter what neighborhood you go into because people with a lot of money still finance people with little money they financing everyone in between finances like i said 65 percent of homeowners last year financed their home improvement projects and so people that lead with it you know i always like using the term um when i was in sales i would walk in and say hey 50 of my customers like to you know pay with check or cash the other 50 like to finance the affordable monthly payment dimitri help me out here which bucket do you fall into it's not a it's not offensive we're not asking him hey hey do you have the money to pay for this but at the same time you kind of are as a sales guy you want to know how your customers will pay for the job this starts that conversation and then you can guide them down which path hey i got cash in my pocket here cool let me get on your roof inspect it we'll get you taken care of or yes i am interested in those monthly payments you're settling the most you know convenient person on the block if they're getting multiple quotes probably one or three roofing companies even offer financing um so there's are you more convenient than next guy probably yes uh you're giving him more options you make it easier from the buy as a sales guy and when i train sales teams the number one thing uh that you've got to be is easy for the customer we all want that easy button right that was easy no one wants to work your customers don't work for the sale you've got to work through the sale for them and do all the hard stuff for them oh thank you so much yeah [Music] [Music]