How to Offer Finance for Quad Bike Customers

Understanding Customer Financing for Quad Bikes

Offering finance options to your customers can be a transformative step for your quad bike business. It doesn’t just broaden the pool of potential buyers—it also increases average basket sizes and strengthens customer loyalty. Let’s explore what’s involved and how you can get started.

Why Offer Finance? The Key Benefits

• Wider Audience: Attract customers who may not have immediate capital to buy outright.
• Increase Sales: Shoppers are more likely to purchase when monthly payments are available.
• Higher Order Value: Customers tend to opt for more advanced models or extras when offered finance.
• Competitive Advantage: Stand out from other retailers limited to cash-only sales.

"Finance made it possible for me to upgrade to a safer, newer quad that would have been out of reach otherwise!" — Recent customer

Main Finance Options to Consider

1. Interest-Free Credit (0% APR): Customers pay in installments with no added interest.
2. Interest-Bearing Loans: Monthly payments plus interest over a set term.
3. Buy Now, Pay Later: Delayed payment period, then installments (sometimes with deferred interest).

How to Set Up Finance with a Broker

Setting up customer finance is simple when you work with a reputable broker like Kandoo:

1. Register as a Retail Partner: Apply and sign a broker partnership agreement.
2. Integration: Plug the broker’s finance portal into your website or POS system.
3. Staff Training: Ensure your team can explain finance offers to customers.
4. Marketing Support: Use the promotional materials and calculators provided by the broker.

Tip: Ensure your website and marketing materials are compliant with FCA guidelines—your broker can help navigate these.

Compliance and Regulation

In the UK, offering finance is regulated by the Financial Conduct Authority (FCA). As a retailer:

• You must partner with an FCA-regulated broker or lender.
• You may need FCA authorisation if you introduce finance regularly.
• All promotions should be clear, fair, and not misleading.

Callout: Kandoo is FCA authorised and can guide you through compliance so you sell finance responsibly.

Customer Experience: The Application Process

The typical journey for a quad bike customer:

1. Choosing Finance: The customer sees finance options online or in-store.
2. Application: They fill out a simple online form or use a tablet in the showroom.
3. Credit Check: The lender carries out an affordability and credit check.
4. Decision: Most decisions are instant; the customer signs electronically.
5. Payment: The lender pays you directly, and you deliver the quad bike.

Highlight: A smooth process means customers can ride away the same day!

Best Practices for Promoting Finance

• Feature finance messaging across your website, social channels, and in-store.
• Use calculators for transparency on monthly payments.
• Showcase finance with example scenarios on quad bike product pages.
• Train staff to answer finance questions confidently.

Top Tips for Success

• Keep application steps quick and simple.
• Be upfront about all costs, terms, and eligibility.
• Regularly review your finance offers and update marketing.
• Work closely with your broker for compliance and support.

Frequently Asked Questions

Q: Can self-employed customers get quad bike finance?
A: Yes, subject to a credit check and proof of income.

Q: What if a customer is declined?
A: Alternative finance solutions or a guarantor may be available—consult your broker for options.

Q: Are there setup fees for retailers?
A: Policies vary, but many brokers have zero setup costs—Kandoo offers rapid onboarding.

Accelerate Your Business with Finance

"Giving customers the chance to finance their quad bike opens doors and drives more sales. It’s a win-win for your business and your buyers."

Ready to integrate finance into your sales? Register as a Kandoo retail partner today and unlock a bigger market for your quad bikes!