You want to help your clients. You want to ensure they get the best deal they can. In fact, they expect you to review their finance deals and advise them on how to proceed. The best time to do this is when your clients need their finance, not after.These requirements happen every day and your business can benefit, not by charging clients too much, but by simply receiving the same payments that other banks and brokers are currently keeping. Whether you keep this money, or rebate it to your client is up to you however let us show you how much commission is available to you.
Imagine you have 300 clients. Perhaps you have many more or less, either way you can use the same numbers and extrapolate the results. As a simple exercise, think about how many have cars. Now think about how many finance their cars. Let’s say that 300 have vehicles, just one. Let’s also say that 20% (a low amount) finance them and that they change their cars every 3 years (the actual statistic is 33 months, just so you know). So, 60 cars, every 3 years equals 20 cars per year.
The average commission on the financing of these vehicles (assuming a $30K purchase price) is around $1,200. So, let’s discount that to $1,000. You just added $20,000 to your bottom line by offering car finance to your clients at a cheaper commission than the market currently charges.
Now, what about businesses that are owed money? Trade Debtors make up a large portion of clients balance sheets and many could use the cash trapped in them. Debtor finance can be a great solution for growing businesses. Again, let’s look at some numbers. A client that needs a limit of approx.. $200,000 in debtor finance will provide you with around $4,000 per annum of income.
Now, with 20 cars and 5 debtor finance clients, you just added $40,000 to your profit.
There is more of course, much more. In fact we can show you how to add between $60,000 and $100,000 per annum to your profit without any addition to your staff or other resources.
Find out more by booking an appointment with us. We’ll come and see you and explain it fully so that you can ask any questions you like.
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