Interest Free

Home owners are more likely to achieve their purchase ambitions with the support of credit finance.

With leading spa and hot tub retailers reporting a third of purchases being made through finance – partnering with the best credit providers is crucial for any business aiming to maximise consumer sales in 2015 and beyond.

Statistics also suggest that half of those finance purchasers are opting for bigger ticket items lured by the bonus of interest-free rates and the opportunity to spread the cost.

“Purchasing on credit shows no sign of slowing down and, in fact, we’ve seen record finance approvals over the last few months,” reveals Andy Wallace, managing partner of the Credit Solutions Group, a leading provider of credit finance to the pool and spa markets.

“The APRs on our low rate finance have been highly competitive and remained static for many years and we expect that to continue.”

Consumer Credit Solutions LLP was founded in 1999 by partners Andy and Peter Nicholson. It is the UK’s largest independent provider of point-of-sale credit to the home improvement and renewables sectors. CCS offers a range of finance products in partnership with leading ‘blue-chip’ lenders, including interest free, buy now pay later and interest bearing credit from 4.9% APR.

CCS works with more than 150 retail partners who will receive around £440 million in loan approvals this year. The hot tub market will account for about £15 million of this.

The CCS customer list includes leading names in the spa and hot tub retail business many of whom they have been working with for over five years:

• Jacuzzi

• The Hot Tub Superstore

• Hot Spring

• Artic Spas

• Catalina Spas

• Grizzly Bear

Hot Tubs Retailers like Jacuzzi emphasise the importance of finance to its business: “Being able to offer finance is a major tool when selling through our network of national hot tub retailers and as an example via our own managed stores finance accounted for 40% of last year’s sales,” says Kevin Teague, finance director of Jacuzzi Spa and Bath Ltd.

“It is essential we use a finance provider that understands our business and that can provide a quick and easy application process for both the consumer and the sales person. “We have to accept that finance comes at a cost but this is a small price to pay for a 20% annual increase in sales.”

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