Monthly Payments for vehicle servicing and MOT garages: giving customers more choice
An unexpected repair bill can be a lot to take in. A customer might arrive expecting a routine service, only to find their car needs new tyres, brake repairs or additional work following its MOT.
For your garage, these conversations are part of looking after your customers. Explaining what needs doing, providing a clear quote and talking through the available payment options can help them decide what’s right for them.
At PayItMonthly, we’re here to help you offer a little more choice. Eligible customers can spread the cost through interest-free monthly payments, while your garage receives payment according to your chosen Partner plan.
TL;DR/Summary:
- PayItMonthly lets eligible customers spread servicing and repair costs across 2 to 12 interest-free monthly payments.
- Your garage receives the financed amount minus a small credit charge, with payout typically being next day or next week depending on your plan.
- PayItMonthly specialises in supporting independent businesses with a simple online only sign up process, no sign up fee’s and UK phone support in under 60 seconds.
What to look for in a BNPL platform for MOT and service work
Choosing a payment provider is about finding the right fit for your garage and your customers. Here are a few things to consider, alongside how PayItMonthly can help.
Clear costs for everyone
Look for a provider that clearly explains the customer’s repayment schedule and your garage’s costs. PayItMonthly offers eligible customers interest-free monthly payments with no hidden fees and for your garage costs are also simple, as you will only pay a small credit charge which is taken off the agreement value. If you are on a Pro or Plus plan you will have a small monthly fee associated with your Partner plan. You can explore these costs on our plans and pricing page.
A payout schedule that suits your business
Knowing when you’ll receive payment helps you plan ahead and ensures strong cashflow within your business. With PayItMonthly, Pro partners receive next-working-day payouts for agreements which are submitted (with supporting documents) before midnight, while Plus and Pay As You Go partners receive weekly payouts (usually every Thursday) for all agreements submitted up to Sunday midnight.
Applications that fit how your garage works
Repair conversations often happen at reception or remotely once a quote is ready. PayItMonthly lets customers apply in person on your computer or through a link sent by email, giving your garage options that fit how you like to deal with your customers.
Responsible lending and clear credit-check information
Choose a provider that explains eligibility, affordability checks and the potential effect on a customer’s credit file responsibly. PayItMonthly always carries out an initial soft credit check, this doesn’t negatively affect the customers credit score; if a customer’s agreement is approved and the customer signs the agreement, this becomes a hard credit check. Approval is always subject to status and affordability checks.
Support with promoting finance
Clear marketing helps customers understand their options. PayItMonthly provides a range of approved digital and printed marketing resources as well as clear guidance for garages to help partners introduce monthly payments compliantly. Our latest marketing materials can be downloaded from our website, and you can always contact our team if you need help.
A team you can turn to
From getting started to answering questions about an agreement, accessible support matters. PayItMonthly’s UK Cheltenham based team typically answer in under 60 seconds and can help your garage understand our solution, while your garages customers can contact our support team 6 days a week with questions about their agreement or repayments.
How PayItMonthly works for your garage
Here’s how it works:
- Get your garage set up. Choose a partner plan that suits your business and complete our short verification process, we can have you live in 48 hours.
- Talk through the options. Once you’ve explained the work and provided a quote, let your customer know monthly payments are available.
- Your customer applies. They can apply in person or through a link sent by email, where they can then review their proposed payment schedule and complete the relevant checks.
- Complete the work and submit your documents. We require you to submit supporting documents (usually an invoice) to prove the works have been completed, once these are checked by our system the payment is processed according to your plan on a next day or next week basis.
Your garage receives the financed amount less the applicable credit charge.
Some partner plans also include a monthly fee but they do have the benefit of significantly lower credit charges, so it’s worth looking at how often you expect to offer finance when choosing your plan as monthly fees can quickly be outweighed by accessing the lower credit charges which are included on our paid plans. Our partner onboarding team can help you talk through the options.
When does your garage get paid?
Your customer may be paying monthly, but that doesn’t mean your garage needs to receive their payments month by month.
For PayItMonthly’s financed Partner plans, the payout schedule depends on the plan you choose:
- Pro: next-working-day payouts for all agreements submitted with supporting documents prior to midnight.
- Plus and Pay As You Go: weekly payouts, normally on Thursday for the previous weekly period.
Bank holidays can affect these timings.
What about credit checks?
PayItMonthly carries out an initial soft credit check. If an approved customer completes their application and signs the agreement, this becomes a hard credit check.
That means the full application process shouldn’t be described as having no impact on a customer’s credit file, but customers can certainly see their initial options without any negative impact.
We’re here to help
Introducing a new payment option is easier when your team knows where to turn for support. We can help you understand your partner plan, get familiar with the application process and find the right resources for your garage.
Our approved marketing materials can also help you explain instalments on your website, in emails and at reception. The latest resources and guidance are available ( www.payitmonthly.uk/marketing)
Ready to give your customers more choice?
Whether you’re exploring monthly payments for the first time or looking for support with your existing account, we’d be happy to help.
You can Sign Up or Book a Meeting with our friendly UK-based team to talk through how PayItMonthly could work for your garage.
