Prequalify Without Affecting Your Credit Score
We work with 13 lenders to help find you the very best offer based on your credit score and the amount you plan to borrow. When the banks compete, you win!
It’s as easy as 1,2,3!
- Get Pre-Approval Without Affecting Your Credit Score. (It’s a soft pull)
- Review The Multiple Offers From Our 13 Lenders. (When banks compete, you win!)
- Accept The Offer You Like Best And Purchase Your New Windows! (The lender will deposit the funds directly into your bank. Save money by avoiding the middle-man).
*Lenders will not pull a hard credit report until you have agreed to one of the offers. Once you agree to complete the application, a hard-pull will be made in order to complete the application. Interest rates and terms are based on creditworthiness and set by the lenders. Carefully review the terms and conditions of the loan before making a final decision regarding credit and financing options.
Why We Do Not Offer 0% Financing!
At some point or another, we’ve all come across a “Zero Percent Financing Deal” that is pitched as an offer that is just too good to pass up. After all, it’s “Free Money”. Right?
But is it really?
Definitely not. Somewhere, someone has to pay and it usually looks something like this.
The Cost Of Doing Business
Believe it or not, businesses need to make money. Shocking, I know, but it’s just the facts of commerce. No one, in their right mind, is going to intentionally run a business at a loss. If they do they certainly won’t be around for very long.
No matter what the field of work, be it a corner bakery or Amazon.com, every business pays a great cost just to operate. There’s rent and utilities, materials and supplies, payroll and benefits just to have a good or service to offer. Now you need to pay to market that product and provide service and support after the sale.
Just like any other successful business out there, when you buy a houseful of windows from Houston Window Experts (please do) only a portion of what you pay goes toward the windows themselves. I don’t mind telling you that after we pay for products, materials, labor, vehicle costs, rent, payroll, etc…we need to come away with a 15% to 22% margin of profit. With much of that getting invested back into the company.
“What does that look like?” I’m glad you asked.
For the sake of demonstration let’s use a $10,000 price tag for job to breakdown. Of course, in reality all of these figures won’t be so nice and tidy. So of that $10,000 the cost of the windows will be about $4,000. Our labor for the installation and materials will run us $2,000 and our operating costs and overhead will be another $2,000. Leaving the company with a net profit of $2000 or 20%.
Now more on how this free money works. The typical 24 months 0% apr deals are going to cost the service provider about 15% on average. So the installer is going to pay somewhere around $1500 to the lender for the privilege of offering you, the homeowner, that 0% financing offer. Now, to make the number work, that same $10,000 job needs to be priced at $11,500 to keep the same profit margin. In other words, they purchase the 0% rate for you and turn around and charge it back to you.
This is something that you’ve seen all of the time in the new car business. Think about all of the “Factory Incentives” that you’ve seen; it’s always “such and such” APR or bonus cash. Never both, because they can’t do both. They are, in fact, the same thing just expressed in two different ways.
Put It To The Test
So here’s what you do. Your sales person shows up and right off of the bat tells you that they are running a special 0% interest rate that can save you a lot of money. You tell them, “I’ll keep that in mind.” and let them carry on with the presentation. If you mange to survive the high pressure sales tactics and get to the end of the presentation you ask them what their cash price is.
At this point, I’ll practically guarantee that you will be assured that this is the best price; cash, finance, or credit card they are all the same. Don’t back down. You know that there has got to be a better deal for a cash buyer, after all you are well aware of finance charges and you know that they are built into the price.
After a lot of back and forth and maybe even a call to the sales manager, they give in and knock off that $1,500 they had built-in for the 0% deal. Of course, it probably “expires at midnight” and you have to sign now.
“Okay,” you say. “But I’ve thought about it and I’ll go ahead and do the 0% financing at that price.” Cue the fireworks. Not only will they not be happy that you are on to them but you’re not getting that deal either.
How We Do It
We like options. If you’ve watched any of our videos or read any of our other posts, you know that it’s one of the things that makes us who we are. We believe that you should have choices when it comes to your project and that’s why we were so excited when we were approached by Hearth Lending.
What they do is allow thirteen lenders to compete for your business. In fact, it won’t even affect your credit score in any way because they use what is called a “soft pull” on your credit report. And the best part for you is that we are not involved in the process in any way. You get approved and they put the money directly into your account and you write us a check.
And since you’re writing us a check we’ll knock off 3%, as we do for all of our cash buyers. See, that’s the only thing we have “baked-in” to our jobs is the 3% finance charge that credit and debit cards charge back to us.
We don’t use pushy tactics or sales scams and we believe that you should operate your business, and your life, with integrity and transparency. We won’t twist your arm or shame you into buying something that isn’t right for you. It’s one of the reasons we offer so many options, so we can find the right solution for your project and your budget if you need to save money.