Offer finance for antique furniture

Understanding Finance for Antique Furniture

Antique furniture is more than just a purchase; it is an investment. Whether you're a collector, interior designer, or simply someone who appreciates the timeless beauty and craftsmanship of older pieces, antique furniture holds both aesthetic and financial value. However, acquiring these valuable pieces often comes with a significant price tag, which can make it difficult for some individuals to afford outright. Offering finance for antique furniture is a solution that can help buyers spread the cost, making these items more accessible.

In this article, we will explore the concept of offering finance for antique furniture, the benefits it brings to both buyers and sellers, and how Kandoo, a UK retail finance broker, can assist in making these purchases more manageable.

Why Offer Finance for Antique Furniture?

Antique furniture is often priced higher than contemporary pieces due to its rarity, craftsmanship, and historical significance. While many people would love to own such pieces, the cost can be a deterrent. Offering finance as an option can make antique furniture more attainable for a wider range of customers. Here are some reasons why offering finance for antique furniture is a smart choice:

1. Increased Affordability for Customers

Offering finance allows customers to spread the cost of their purchase over time. Instead of paying a lump sum upfront, they can make manageable monthly payments. This opens the door for customers who may not have the immediate funds but are still interested in purchasing high-value items.

For example, a customer may fall in love with a £3,000 Georgian sideboard but may not have the funds to pay for it outright. With a finance option, they could spread the cost over 12 or 24 months, making the purchase more feasible.

2. Boost Sales for Retailers

From a seller’s perspective, offering finance can help increase sales. Customers are more likely to make a purchase when they have the option to pay in instalments, especially for higher-ticket items like antique furniture. By making the payment process more flexible, sellers can attract more buyers and close more deals.

In addition, offering finance can encourage customers to buy more expensive items. When buyers are presented with the option of spreading payments, they may feel more comfortable selecting a piece that is slightly outside of their original budget.

3. Improved Cash Flow for Sellers

When a retailer offers finance, they typically receive the full payment upfront from the finance provider. This means that while the customer pays in instalments, the seller doesn't have to wait for the payments to trickle in. This arrangement helps to maintain a healthy cash flow, which is vital for businesses that rely on consistent revenue.

How Finance Works for Antique Furniture

Offering finance for antique furniture involves partnering with a finance provider or broker who will facilitate the credit arrangement between the buyer and the retailer. This process is relatively straightforward, but it's essential to understand the mechanics to ensure both parties benefit.

1. Choosing a Finance Partner

The first step for any retailer interested in offering finance is to select a reputable finance provider. This partner will handle the credit checks, payment collection, and any other administrative tasks associated with the finance agreement. It’s important to choose a provider that offers competitive interest rates and terms that are fair to customers.

Kandoo, a trusted UK retail finance broker, is an excellent option for retailers looking to offer finance to their customers. They work with a wide range of lenders to find the best finance solutions tailored to the needs of both businesses and customers. With their flexible options and transparent terms, Kandoo can help retailers seamlessly integrate finance offerings into their sales process.

2. Setting the Terms

Once a finance provider is in place, the next step is to establish the terms of the finance agreement. This includes deciding on the repayment period, interest rates, and any deposit requirements. Some retailers may offer 0% finance for a set period, while others may provide longer repayment terms with interest.

The flexibility of finance terms allows retailers to cater to different customer preferences. For example, a customer might prefer a 12-month interest-free payment plan, while another might be more comfortable with a 36-month plan with a small interest rate.

3. The Application Process

When a customer chooses to finance their purchase, they will need to go through a credit application process. This typically involves completing an online form, which is then reviewed by the finance provider. The provider will assess the customer’s creditworthiness before approving the loan.

One of the benefits of working with Kandoo is that they offer a fast and straightforward application process. Most customers will receive a decision within minutes, allowing them to proceed with their purchase without delay.

4. Repayment and Ownership

Once the finance agreement is in place, the customer will begin making their monthly payments. It’s important to note that, in most cases, the customer does not fully own the item until the finance is paid off. This is known as a hire purchase agreement, where ownership transfers to the buyer after the final payment.

The Benefits of Finance for Antique Furniture Buyers

Finance is not just beneficial for retailers; it also offers a range of advantages for customers. Here are some of the key benefits of financing antique furniture purchases:

1. Access to Higher-Quality Pieces

For many buyers, the cost of high-quality antique furniture can be prohibitive. By offering finance, customers can access pieces that might otherwise be out of their budget. This allows them to invest in quality items that will retain or even increase in value over time.

2. Spreading the Cost

One of the most significant advantages of finance is the ability to spread the cost of a purchase. Instead of paying a large sum upfront, buyers can make smaller, more manageable payments over time. This makes it easier for customers to budget for their purchase without compromising their financial stability.

3. Flexible Payment Options

Finance providers like Kandoo offer flexible payment plans, allowing customers to choose a repayment schedule that suits their financial situation. Whether they prefer to pay off the balance quickly or spread the payments over several years, there is usually an option to accommodate their needs.

4. Preserving Savings and Cash Flow

For buyers who have savings or investments, financing allows them to preserve their cash reserves while still acquiring the furniture they desire. Instead of depleting their savings, they can spread the cost over time, keeping their financial cushion intact for other expenses or emergencies.

How Kandoo Can Help with Antique Furniture Finance

Kandoo is a leading retail finance broker in the UK, specialising in helping retailers and customers find the right finance solutions for their needs. They work with a wide range of lenders, ensuring that buyers have access to competitive rates and flexible terms.

Here’s how Kandoo can help with antique furniture finance:

1. Tailored Finance Solutions

Kandoo understands that every purchase is unique, and they work with a variety of lenders to offer tailored finance solutions. Whether a customer is looking for a short-term, interest-free option or a longer-term loan with low interest, Kandoo can find the right solution.

2. Simple Application Process

The finance application process with Kandoo is straightforward and user-friendly. Customers can complete the application online, and most will receive a decision within minutes. This quick turnaround means that customers can proceed with their purchase without delay.

3. Flexible Repayment Terms

Kandoo offers a range of repayment terms to suit different financial situations. Whether a customer prefers to pay off their loan in 12 months or spread the payments over several years, Kandoo can help them find a plan that works for their budget.

4. Excellent Customer Support

Kandoo is known for its excellent customer support, providing guidance and assistance throughout the finance process. Whether a customer has questions about their application or needs help understanding the terms of their agreement, Kandoo’s team is there to help.

Conclusion

Offering finance for antique furniture is a win-win solution for both retailers and buyers. It makes high-value, timeless pieces more accessible to customers, while also boosting sales and improving cash flow for retailers. By partnering with a reputable finance broker like Kandoo, retailers can offer flexible, affordable payment options that make it easier for customers to invest in the furniture they love.

For buyers, financing provides the opportunity to acquire beautiful, high-quality antiques without the burden of an upfront payment. With flexible terms and competitive rates, finance options make it possible for more people to bring the charm and elegance of antique furniture into their homes.

Whether you’re a retailer looking to expand your customer base or a buyer eager to invest in a timeless piece, offering finance for antique furniture is a smart and practical solution. And with Kandoo’s support, the process is simple, transparent, and tailored to your needs.