Purchasing your first solar power system is a huge undertaking, particularly if your plans include an on-grid system. First comes the hassle of researching how many panels you need to purchase based on your power needs. Soon after comes the price comparisons (how much!?!). Then you need to shop around for installation professionals and then finally make your purchase. Here at Renogy, we understand your concerns and we’re here to help. In 2013, we rolled out our online website, which allows you to shop 24/7, anytime, anywhere. In late 2013 we added a comprehensive Q&A guide to our store website, to make the initial research a little more convenient. At the same time, we added a solar calculator to make determining your power needs that much easier. All along the way, we’ve had a dedicated sales and technical support team standing by to answer your questions and help with the installation process. This past month, we decided to make your purchase easier with financing offered through a third party bank.
When making a big purchase that will likely provide a steady return on investment, financing options may make a lot of sense. Solar panels are not only a great way to save on monthly power expenses, but are also great for the environment. That’s why Renogy began offering product financing for some of the larger, more expensive products. The financing is offered through Cross River Bank, a New Jersey state chartered bank (Member FDIC). The loan as known as a Bread Loan (registered trademark), which allows a customer to purchase the item and thereafter make monthly payments until the Bread loan is paid in full. As with most financing, any credit extension is subject to credit pre-approval. According to the official Bread website (www.getbread.com), there are no hidden fees or prepayment penalties. If you pre-qualify for the Bread loan, it will show you what your monthly payment will be. APR rates for each loan vary between 0%-29.9%. To apply for the Bread loan, you’ll have to supply your information and the bank will review your credit history.
At Renogy, we strive to provide quality products at affordable prices. Adding financing to our store site is just one of the many ways we try to make your purchase as smooth as possible. If you would like to learn more about Bread loans, visit www.getbread.com/faq/. There you will find answers to common questions, along with the bank’s contact information. Please do not contact Renogy for information regarding Bread loans, as we are not affiliated with Cross River Bank and do not have any formal training regarding Bread loans and will be unable to answer your questions. Happy shopping!