Wondering Why Roofing Companies Offer Financing? We’re Sharing More on This Topic
In researching roofing companies, you may have noticed that, among their residential roofing services, roofers will frequently offer financing as well. These financing options can make payments more flexible for homeowners, and financing options may be used to cover a variety of services.
But have you ever wondered why roofing companies would offer financing options? At Elite Roofing & Solar, we always try to ensure our customers and readers are as informed about their roofing options as possible. So today, we’re exploring this question and sharing some insights.
A Difficult Time for Roofing
As any Colorado resident has surely noticed, the cost of many goods has increased over the years. The roofing industry has not been free from these economic factors, and continued strong storms in the Denver area and throughout the Front Range has kept the demand for roofing materials quite high.
As a result, roofing projects continue to be a major financial investment. Indeed, as roofers who are also homeowners ourselves, we know very well that a roof replacement is a major financial burden. This is especially true if you find yourself in a situation where your insurance company isn’t fully funding a roof replacement.
Rising Deductibles
In addition, insurance deductibles have risen as well. This is generally true from year to year, as insurance across nearly every domain—from homeowners insurance to health insurance—will tend to increase in price.
But as mentioned, our area is particularly susceptible to major storms, and hail damage in particular. This is alongside other events including fires, wind storms, and more. The increase in extreme weather has led to a notable rise in the number of insurance claims throughout the state. With the increased volume in claims, many homeowners have seen an increase in their deductibles, making a new roof more of an expenditure than it would have been five years ago.
Financing Provides More Options
With rising deductibles, homeowners are exploring their financing options before making a major purchase. Roofing companies know this, and a logical next step is to find ways to offer financing ourselves.
The reasoning behind roofing companies offering financing is simple: planning a roofing project, and especially a roof replacement, can be a stressful process. Choosing the right roofer, choosing the right materials, and planning financially are all essential and difficult steps. By providing access to financing directly, the goal of many roofing companies—including ours—is to offer greater efficiency and remove some of the headaches associated with planning a roofing project.
Why Might I Need Roof Financing?
In addition to rising deductibles, there are also situations where homeowners insurance may not cover a roof replacement at all. If this is the case, homeowners may need flexible payment methods, as most families won’t have the full cost of a roof replacement set aside. Common situations that may necessitate roof financing include:
- A high insurance deductible
- No coverage due to neglect or poor maintenance
- Roof damaged by a cause not covered by your insurance policy
- Wanting to upgrade your roof rather than replace with the same material
Advantages of Financing Through Elite Roofing & Solar
To help homeowners who are facing increased deductibles, and other challenges brought on by the economy, Elite Roofing & Solar is proud to offer a variety of roof financing options to our customers. We understand that not everyone has expendable income to pay for the upfront costs of a new roof, so we would like to help you finance it.
Here are some of the financing options that we offer:
- A Deferred Payment Plan
- Same as Cash Payment Plan
- No interest, no payment for 6 months
- Low monthly payments
- Interest Free financing
Get in Touch with Elite Roofing & Solar to Learn More
Even if your roofing company offers financing, that doesn’t necessarily mean it’s the best option for you. It’s always a good idea to speak with a financial professional first.
In addition, our team is happy to answer any questions you may have. Call our team at Elite Roofing & Solar in Denver, or fill out the form below to request more information. Be sure to mention that you would like to learn about financing options in the comments box! Faith, family, honesty, integrity. That’s Roofing Done Right.
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