Pinnacle Finance Blog

August 18, 2016

Consumer Credit Trends Still Positive

Good news for home improvement dealers and contractors utilizing financing to help close sales:  Industry trends indicate consumers continue to invest in home improvements; the use of credit by consumers continues to grow and the default rates remain at low levels.   Specific to home improvement – both Home Depot and Lowe’s reported positive earnings last week for the quarter ending in July.  Home Depot’s comparable U.S. stores sales increased 5.4% on an annual basis, and Lowe’s grew 1.9%. Recently released data from the Federal Reserve shows that consumer credit grew at an annual rate of 5.25% in the second quarter of […]
August 24, 2016

Labor Shortages Impacting Industry

The availability of skilled workers has become one of the biggest challenges faced by the home improvement industry as activity has increased and grown since the years of the recession.  Also, the rise in prices for both new homes and existing homes has increased demand for remodeling work as people are staying in homes longer. The labor shortage is only expected to intensify as current skilled workers become older and reach retirement age.  As a result industry leaders and associations are putting a real effort into solving this problem. Key Findings: There are several reasons at the root of the […]
November 3, 2016

How to Save a Sale When Doubts Begin

Every remodeler has faced this scenario – you go to the home to discuss the remodel job. The homeowners get excited with the prospect of the new, beautiful home that will be theirs with a remodel project. You give them the proposal that outlines the details, costs and timeline. Then the enthusiastic prospect suddenly becomes the silent prospect.   When doubt sets in and the reality of the scope of the project is in front of the homeowners, many things go through the mind of the prospect. Can we really afford to do this? Won’t it be a hassle to […]
November 7, 2016

Keep Closing Sales Through the Holidays!

90 Days No Payments Special Pricing! With the holidays quickly approaching many of your potential customers may be concerned about over-extending themselves financially around the holidays. The use of 90 days No Payment promotions can be extremely useful in overcoming these objections.  Using this promotion the customer’s first payment will not be due until February or March.  Now through the end of the year Pinnacle is reducing your cost for the use of the promotions. ————————————————————————————————————————– We offer two 90 Days No Payment promotions: 90 Days No Interest & No Payments – 2.5% Dealer Fee (normally 3.5%) (First payment will […]