How to Offer Finance for Luxury Watches

Understanding Customer Finance for Luxury Watches

Offering finance is a powerful way to make luxury watches more accessible. By enabling customers to spread the cost, you increase your potential sales and widen your customer base, especially as price tags rise into the thousands.

Why Offer Finance for Luxury Watches?

• Boost sales conversions for customers put off by high upfront costs.
• Attract a wider audience—including younger buyers seeking flexible payments.
• Encourage upselling to higher value models.
• Aid cash flow with immediate payment from the finance provider.

“Finance options break down barriers for buyers considering high-value items.”

Types of Finance to Consider

1. Interest-Free Credit (0% APR): Great for shorter terms and boosting sales, but may reduce your margin.
2. Interest-Bearing Credit: Customers pay interest, appealing if you want to keep margins intact.
3. Buy Now, Pay Later: Customers defer payments, often interest-free for a set period.
4. Personal Loans via Brokering: The broker sources competitive offers; can be easier to implement than in-house credit.

Setting Up Finance with a Broker

Partnering with a specialist retail finance broker like Kandoo simplifies everything. Here’s how the process typically works:

1. Choose a Reputable Broker: Find a UK finance broker who serves the luxury sector.
2. Onboarding & Compliance: The broker helps you obtain FCA authorisation or act as an appointed representative.
3. Integration: Add finance journeys to your website or train staff for in-store applications.
4. Customer Application: Applications are instantly assessed; funds are paid to your business once approved.
5. Get Paid Quickly: You receive payment upfront—no chasing instalments.

Key Considerations

• FCA Regulations: Ensure you meet UK regulations; brokers like Kandoo guide you through this.
• Affordability Checks: Customers undergo credit checks, ensuring responsible lending.
• Customer Experience: Make the finance process quick and seamless—slow, difficult applications may deter sales.
• Marketing: Promote finance options clearly online, in-store, and in your marketing materials.

Tips for Success

• Display “Finance Available” prominently in-store and online.
• Train staff to discuss finance confidently.
• Use clear tables or calculators showing instalments.
• Highlight approval speed (“Decisions in seconds!”).

Frequently Asked Questions

Is offering finance complicated?
No—with an expert broker, most of the heavy lifting is handled for you.

Do I need a special licence?
Either obtain FCA permission or become an appointed representative of your broker.

What do my customers need to apply?
Typically, they require UK residency, proof of ID, and a credit check.

Call to Action

Looking to offer finance on luxury watches?
Kandoo helps UK watch retailers boost sales with seamless customer finance. Contact our team today to discover your best options.

"Finance is fast becoming a must-have for luxury retailers. Make it work for you—and your customers—today."