Housecall Pro is excited to share that you can now offer your customers 0% APR financing for up to 24 months with Wisetack! These new loan options provide your customers with even greater flexibility in splitting the total cost of a job into smaller and interest-free payments over time, while you get paid in full as soon as the job is finished. Wisetack loans make difficult and expensive decisions easier for the customer, giving you more opportunities to sell big ticket jobs!
How It Works
In order to offer your customers interest-free financing, your organization first needs to enable Wisetack. Click here to get started right away: navigate directly to the App Store and begin setup. To learn more about consumer lending with Wisetack, check out our consumer lending overview.
A 3 month, 0% APR financing option is automatically included in Wisetack’s offering. However, by upgrading plans, you can now offer three additional options, 6, 12, or 24 months, at 0%. Choose which offers you’d like to make available, and your fee will depend on the loan your customer selects.
Your merchant rate based on the 0% option your customer picks is as follows:
A few important notes:
Qualifying for offers with a longer-term 0% requires a homeowner to be well qualified. With a few exceptions, this means that they’ll need a credit score at least in the low 700’s. (For reference, a homeowner can qualify for interest-bearing options with a credit score in the low 500’s.)
If a homeowner is qualifies, they will only see up to the longest term you selected to offer. If a homeowner is not qualified for 0% offers but is approved for consumer financing, they will continue to see offers at higher interest rates.
When a homeowner is approved for a 0% offer:
If you have chosen to offer up to a 24mo 0% APR, then they will see 3, 6, 12, and 24 month 0% offers
If you have chosen to offer up to a 12mo 0% APR, they will see 3, 6, and 12 month 0% offers (all loan lengths above that 12mo will be interest-bearing offers)
When a homeowner is not approved for a 0% offer but is approved for interest bearing:
The homeowner will see all 3, 6, 12, and 24 month offers and the rate that they qualify for
When a homeowner is not approved for either. the homeowner cannot utilize Wisetack to pay for the job