In today’s collision repair industry environment, there is increasing pressure for customers to bear a greater financial burden for collision repair services. After-insurance deductibles, short-pays, balance billing and uninsured events are creating customer responsibilities that can easily reach into the thousands of dollars.
“Payment arrangements are growing exponentially and maintaining these arrangements are no longer cost effective for collision repair facilities,” said Jeff Steigerwald, CPA.
Collision Financial Services Payment Plans are designed to be an integral part of a collision center’s overall collection process. The company works in concert with each shop’s current payment alternatives and business office operations. CFS customized programs relieve financing burdens and the billing and collecting effort of customer payable balances. CFS programs are offered to any customer identified by a CFS shop client as having the willingness and ability to pay, but needing additional time to do so.
CFS can offer:
- 0% Vehicle Repair Loans up to $2500.00
- No credit check – guaranteed credit approval
- Affordable payments - up to 2 year payment plans
- No pre-payment penalties
CFS will fully assume the management of your current and future in-house customer payment plans. This option allows bodyshops to generate an immediate influx of cash while CFS takes over the day-to-day billing, collection and customer interaction for these plans.
Quite simply, there is an increase in customers’ out-of-pocket expense and an increased burden on collision centers to offer customers creative payment alternatives. Today’s leading collision business focusing on increasing profits need to work with a creative partner to offer multiple payment options to their customers, including longer term payment plans. CFS provides a superior system to manage and collect the customer pay portion of collision repair bills. CFS’s system creates customer focused payment plans that are implemented while measurably improving a collision center’s collection performance.
For more information, please visit: www.collisionfinancialservices.com
