Rheem and Synchrony Financial Extend Consumer Financing Agreement
Heating and cooling products and water heaters can be purchased with a number of financing options
STAMFORD, Conn., and ATLANTA — Synchrony Financial, a consumer financial services company, announced a multi-year extension with Rheem to continue providing a financing program for the purchase of HVAC and water heating products and services.
Qualifying cardholders can purchase new Rheem or Ruud heating and cooling products and water heaters with a number of convenient promotional financing options through the KwikComfort® Financing program. Rheem offers a wide range of residential and commercial products including air conditioners, furnaces, water heaters, and more. Synchrony Financial has been providing financing options for Rheem customers for more than 12 years.
“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