How to Offer Finance on Home Elevators

Why Finance for Home Elevators Makes Sense

Home elevators can vastly improve accessibility and convenience, but come with significant upfront costs. By offering finance options, you can open up your market to a wider audience, making these life-enhancing solutions attainable for more UK homeowners.

"Home lifts are now essential for many, not just a luxury. Flexible finance options help families invest in comfort and independence."
— Jacqui Thomas, Inclusive Living Expert

What Does Customer Finance Involve?

Customer finance (sometimes called retail finance or point-of-sale finance) allows buyers to spread the cost of their home elevator over manageable monthly payments. Retailers partner with finance brokers (like Kandoo) or lenders who pay the supplier upfront and collect repayments from the customer.

Typical Features:

• Loan values from £1,000 to £50,000 or more
• 0% interest or standard APR options
• Repayment periods from 6 months to 10 years
• Fast eligibility checks
• Easy application processes, often online

How to Set Up Customer Finance: Step by Step

1. Partner with a Finance Broker or Lender
   Choose a specialist experienced in funding home improvements and mobility products.
2. Integrate Finance Offering
   Add financing options to your sales process, website, and marketing materials.
3. Train Your Team
   Educate your staff on how finance works, compliance, and how to explain benefits to customers.
4. Stay Compliant
   Ensure all processes comply with FCA (Financial Conduct Authority) regulations. Brokers or lenders will guide you.

Key Tip:

Home elevator finance is a regulated activity – you’ll need to be FCA authorised, or work through an authorised broker.

Presenting Finance to Customers

• Highlight monthly payment examples during quotes
• Display finance badges on your website and showroom
• Provide print/online info sheets outlining options and FAQs
• Offer quick eligibility checks with no impact on credit score

Example Table: Home Elevator Cost Breakdown

Advantages of Offering Finance

• Increase Sales: Buyers less likely to be deterred by big one-off costs
• Improve Accessibility: Helps families, those with reduced mobility, and retirees upgrade their homes
• Boost Competitiveness: Stand out from elevator installers who only accept lump sum payments
• Faster Turnover: Get paid upfront by lenders, improving your cash flow

What to Look for in a Finance Broker

• FCA authorisation and experience with home improvements
• Simple integration and rapid approvals
• Transparent rates and fees
• Support for both the retailer and customer

Crucial Compliance Points

• All advertising must be clear, fair and not misleading
• State representative APRs and eligibility in your marketing
• Give customers clear pre-contract info and time to decide
• Protect customer data in all finance application processes

"Compliance doesn't need to be a headache. The right broker helps you stay on the right side of regulation, so you can focus on selling."
— Sarah Holmes, Retail Finance Specialist

Common Mistakes to Avoid

• Failing to display finance options clearly — many customers won’t ask
• Advertising rates that aren’t available to 51% of applicants
• Overcomplicating the application process
• Neglecting team training

Final Thoughts & Next Steps

Offering finance for home elevators transforms your ability to serve customers who want or need accessibility but are restricted by cashflow. With the right broker, transparent processes, and a compliant approach, finance is a win-win for you and your customers.

Ready to grow your business?

• Contact Kandoo to find out how easy it is to start offering finance for home elevators.
• Download our retail finance checklist to make sure your business is prepared.

"Finance is the single best sales tool for high-end home improvements. Break down the price barrier, and you'll build both access and loyalty in your market."