Synchrony Financial and Vaughan-Bassett Announce Multi-Year Extension to Consumer Financing Agreement

June 29, 2016  by in Business Strategy, Industry   

The program, which began in 2010 will continue to provide customers with access to a range of convenient payment options for purchases made with the Vaughan-Bassett credit card through a network of locations nationwide. Special financing will be available at select Vaughan-Bassett merchants nationwide for purchases made from a full line of youth and adult bedroom furniture. Vaughan-Bassett is now the largest manufacturer of wooden adult bedroom furniture in the U.S.

“We’re please to continue working with Vaughan-Bassett to offer payment options to customers who want to make home furnishing purchases,” said Glenn Marino, Executive Vice President and CEO, Payment Solutions Synchrony Financial. “The availability of financing is important in home furnishing purchases and can help dealers grow and stay competitive.”

Synchrony Financials 2015 Major Purchase Consumer Study found that 74% of Synchrony home furnishing cardholders surveyed said they “always” seek promotional financing when making a major purchase ($500+). Eighty-eight percent of home furnishing cardholders surveyed said they feel promotional financing makes their large purchases more affordable. Almost half (46%) of furniture cardholders surveyed said they would not have made the purchase, or gone to a similar retailer offering financing, if financing were not available.

“Synchrony Financial has been a great partner in ensuring a seamless shopping experience for our customers that allows them to take advantage of convenient financing options,” said Doug Bassett, President Vaughan-Bassett. “We look forward to working with Synchrony to continue to build our business and provide Vaughan-Bassett customer with greater buying power to furnish their homes with our 100% American-made products.”