“We’re pleased to continue our longtime relationship with Rheem to help them grow their business by providing convenient financing options,” said Glenn Marino, executive vice president, and CEO of Payment Solutions, Synchrony Financial. “Our research shows that the availability of financing plays an important role in consumers’ home improvement purchasing decisions.”

Synchrony Financial’s annual 2015 Major Purchase Consumer Study underscores the importance of financing, finding that 75 percent of home improvement cardholders said they “always” seek promotional financing when making a major purchase (more than $500).

The study also showed that close to half (44 percent) of home improvement cardholders surveyed said they would not have made a major purchase, or would have gone to another retailer, if financing were not available. Further, 85 percent of home improvement cardholders surveyed said they feel promotional financing makes their large purchases more affordable.

“Financing options ultimately give homeowners access to the best, most-efficient heating, cooling, and water heating equipment, and we are thrilled to have a partner like Synchrony Financial,” said Bill Alderson, corporate director, marketing and digital services, Rheem. “Synchrony Financial’s deep industry experience and insights into consumer habits helps us offer better solutions to consumers across the nation, and grow our business.”

For more information about Rheem, visit www.rheem.com.

For more information about Synchrony Financial, visit www.synchronyfinancial.com.

Publication date: 8/15/2016

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!