Lease-to-Own Guide for Tire Retailers

Shopping for automotive tires is what customers might call a “necessary evil”. And for good reason: When the time comes that they need new tires, it’s never a “convenient” choice; at the same time, there’s no way to avoid the need to get them. The cost of one tire — let alone a set of four new tires — can be a considerable financial burden, especially for those with less-than-perfect credit. 

However, there is a solution that can alleviate this financial strain and open new doors of opportunity for both customers and businesses: lease-to-own options like Acima Leasing. Rather than requiring customers to pay for tires in one lump sum, Acima Leasing’s approach enables customers to make payments within a lease option that provides shopping flexibility. 

If you're running a tire business and considering the potential benefits of offering lease-to-own as an alternative to financing, read on to discover how Acima Leasing can help transform your operations, increase your sales and strengthen your customer relationships.

Lease-to-Own: A Fresh Perspective

It's essential to understand that a lease-to-own solution is distinct from credit, loans or other types of payment solutions. We take on the role of acquiring merchandise from you, the merchant, and leasing it to the customer. This arrangement offers a clear path to ownership for the customer while providing significant advantages for your business.

So, you may now be asking: What kind of advantages does your tire business have? The benefits are substantial — but we’ll save them for later in the article.

Choosing the Right Lease-to-Own Provider

Selecting the right lease-to-own program for your tire business is a critical decision; naturally, the program you choose should align with both your customer base and business needs. Typically, lease-to-own options cater to shoppers looking for large items. Customers can be approved to lease up to $4,000 in merchandise. Furthermore, the lease options (including the period to ownership) can vary from one provider to the next, so it's important to select one that suits your specific business.

If your business operates both online and in physical locations, it's essential to consider a provider's e-commerce and in-store capabilities, similar to what Acima Leasing offers. The ease of integrating and implementing these capabilities into your website and/or store process is a crucial factor to ensure a seamless and user-friendly experience for your customers.

In addition, look for a provider with experience working with merchants of similar size, sales volume and product mix to your business. Many tire companies have successfully partnered with Acima Leasing, and as a result they have experienced a significant expansion in their sales and traffic (both in-store and online).

But don’t just take our word for it: Retailers themselves have spoken about the positive impact Acima Leasing has had on their company’s growth. One example is

Chuck Wait, who began offering Acima Leasing in 2015, saying, "The first month, sales just blew up. Acima Leasing's lease-to-own option is the best thing that has ever happened to us. It's been a blessing for our customers and for our company."

The Benefits of Acima Leasing for Your Tire Business

1. Increased Sales

It stands to reason: Offering more payment options translates to more opportunities to close sales and foster customer loyalty. This is especially true when you consider unbanked, underbanked or credit-constrained customers who you may have had to turn away in the past. With Acima Leasing's lease-to-own options, these customers gain shopping power they wouldn't have had otherwise. This boost in shopping possibilities may help increase your average order value, benefiting your bottom line.

2. Competitive Edge

By offering easy access to payment options while shopping, your customers may be more likely to choose your tire shop over your competitors. This competitive edge can help you secure more sales and maintain a strong presence in the market.

3. Customer Loyalty

Providing assistance to your customers when they need it most can strengthen relationships and build loyalty. Customers appreciate businesses that understand their needs and provide solutions, and lease-to-own options from Acima Leasing can help you achieve that. Building a base of loyal customers who value the flexibility and support you provide can lead to sustained success for your business.

4. Repeat Business

When you offer lease-to-own, you not only make it easier for customers to shop for tires but also pave the way for repeat business. As with any business in today’s consumer market, those who have a positive customer experience are more likely to shop with you in the future (even if they can shop elsewhere for the same product). This cycle of returning customers can be a significant driver of your business’s longevity.

5. Risk Reduction

If a customer defaults on their payments, the lease-to-own provider (like Acima Leasing) assumes the financial hit, not the merchant. This protection ensures you can focus on growing your business rather than worrying about the potential financial setbacks that can come with extending credit to customers.

Let Acima Leasing Help Drive Your Tire Business Growth

Don't miss out on this opportunity to drive your business forward while helping those in need of reliable tires. Offering lease-to-own options opens the door to higher sales, stronger customer relationships and improved bottom-line results for your tire business. And by working with Acima Leasing, the road to success is smoother than ever.

If you're ready to make this essential option available to your customers, visit the our website to get started or learn more about how lease-to-own can work for your business.