Ashwin Lewis
Sleep Country Canada is a leading omnichannel mattress and bedding retailer in Canada. It offers various financing options to its customers, including Affirm and Flexiti. Affirm offers payment plans of 6-12 months, with the option of using a co-signer for in-store purchases. Flexiti, on the other hand, provides 0% interest financing and flexible payment plans. Customers can apply for a FlexitiCard in-store and use it to make multiple purchases within their credit limit. Sleep Country has also been known to use Desjardins machines for pre-financing, which has caused some confusion for customers. Additionally, Sleep Country's pricing strategy involves overpricing their units and then offering discounts that may not be genuine.
| Characteristics | Values |
|---|---|
| Company | Sleep Country Canada Holdings Inc. ("Sleep Country") |
| Financing Partner | Affirm, Flexiti Financial (“Flexiti”), Desjardins |
| Financing Options | 0% interest financing, revolving credit line, flexible payment plans |
| Payment Methods | Pre-authorized debit payments from a Canadian bank account, debit card, Visa, MasterCard, PayPal, American Express |
| Purchase Amount | Minimum of $250 |
| Payment Plans | 6-12 months |
| Co-signers | Available for in-store transactions |
| Application Process | Integrated into the Sleep Country checkout process, application takes a few moments, response received within minutes |
| Additional Benefits | No need to reapply for financing for future purchases, paperless process |
| Number of Stores | 280-283 retail locations across Canada |
| Products | Mattresses, bedding |
| Customer Service | In-store and home delivery experience |
| Acquisition | Acquired by Fairfax Financial Holdings Limited for $1.7 billion |
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What You'll Learn
Sleep Country's partnership with Flexiti
Sleep Country Canada, Canada's leading omnichannel mattress and bedding retailer, has partnered with Flexiti Financial ("Flexiti"), a leading provider of point-of-sale consumer financing solutions for retailers. Through this partnership, Sleep Country offers its customers Flexiti's buy-now-pay-later financing solution, providing an added level of financial comfort and flexibility.
Flexiti's buy-now-pay-later platform allows Sleep Country customers to apply for a FlexitiCardTM in-store and receive a response within minutes. The FlexitiCard can be used to make multiple purchases within the customer's credit limit, without the need to reapply for financing for future purchases. This fully automated and paperless process offers qualified customers a revolving credit line and flexible payment plans with 0% interest financing options.
The partnership between Sleep Country and Flexiti is a shared goal of helping Canadians find their best sleep while resting easy knowing their purchases can be made more affordable through financing. Sleep Country's omnichannel approach, including its online presence and 280+ retail locations across Canada, combined with Flexiti's market-leading technology platform, provides Canadians with convenient buying options that match their preferred choice of how, when, and where to shop for sleep essentials.
By partnering with Flexiti, Sleep Country can now offer its customers more choice and flexibility in how they purchase sleep products, ensuring that more Canadians can instantly access the right sleep products to meet their needs. This collaboration aligns with Sleep Country's dedication to providing excellent service and products, making it a highly respected national retailer.
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Applying for a FlexitiCard
Sleep Country customers can apply for a FlexitiCard in-store at one of the 280 retail locations across Canada and will receive a response within minutes. The FlexitiCard can be used to make multiple purchases, within the customer's credit limit, without needing to reapply. The application process is fully automated and 100% paperless, offering qualified customers a revolving credit line and flexible payment plans with 0% interest financing options.
To apply for a FlexitiCard, simply follow these steps:
- Visit your nearest Sleep Country store. FlexitiCards are not available for online applications.
- Ask a Sleep Country associate for assistance with the FlexitiCard application process. They will guide you through the necessary steps and provide any required information.
- Provide the required information and complete the application form. This may include personal and financial details, such as your name, address, income, and existing debts.
- Submit the application for review. The approval process is typically quick, and you should receive a response within minutes.
- Upon approval, you will be able to use your FlexitiCard immediately to make purchases at Sleep Country or other accepted retailers.
It is important to remember that the FlexitiCard is a line of credit, and you will be responsible for making regular payments to repay your purchases. Be sure to understand the terms and conditions of the FlexitiCard, including any applicable fees, interest rates, and repayment schedules.
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Financing options with Affirm
Sleep Country offers in-store and online financing options to help make your mattress purchase more affordable. For online orders, Sleep Country has partnered with Affirm to offer a "buy now, pay later" financing plan. Here is how it works:
Applying for Financing with Affirm
At checkout, you can select Affirm as your payment option. You will then be directed to a simple application form that asks for your name, email, mobile phone number, date of birth, and the last four digits of your social security number. Affirm uses this information to verify your identity and make an instant loan decision.
Payment Plans
Affirm offers payment plans ranging from 3 to 24 months. You can choose the payment schedule that works for your budget. Affirm will notify you of the loan amount you are approved for, the interest rate, and the number of months you will have to pay off your loan.
Making Payments
Affirm accepts payments via debit card, bank transfer, or check. Autopay can be enabled to schedule automatic monthly payments. Affirm will send you email and SMS reminders in advance of your upcoming payments.
Interest Rates
Your interest rate with Affirm will be based on your credit score and eligibility. Rates range from 0% to 36% APR. Affirm discloses the total amount you will pay upfront, and this number will not increase over time. There are no hidden fees, late fees, or penalties.
Alternative Options
If you are not approved for Affirm financing, Sleep Country also offers in-store financing options through Flexiti. Additionally, Sleep EZ and Nolah Mattress are two other companies that offer mattress financing through Affirm.
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Pre-authorised debit payments
Sleep Country Canada offers financing options to its customers through Affirm and Flexiti.
Affirm is integrated into Sleep Country's checkout process. After choosing Affirm as your payment option, you will be directed to their application, which takes a few moments to complete, and then you will be redirected back to the Sleep Country checkout. Affirm offers payment plans ranging from 6-12 months, and the minimum purchase amount is $250, subject to credit approval. Affirm also accepts pre-authorised debit payments from Canadian bank accounts or debit cards. However, it is important to note that the available payment methods may vary depending on the selected payment plan, and prepaid cards are not accepted.
Flexiti, on the other hand, provides Sleep Country customers with a buy-now-pay-later solution. Customers can apply for a FlexitiCard in-store and will receive a response within minutes. The FlexitiCard can be used for multiple purchases, both online and in-store, without the need to reapply. Flexiti offers 0% interest financing options and provides flexible payment plans.
It is worth noting that Sleep Country has been known to use Desjardins for pre-financing in the past, as seen in some customer experiences.
Additionally, Sleep Country is known to overprice their units and then offer "discounts" that may not be genuine. Thus, it is advisable to be aware of the pricing strategies and negotiate when purchasing from them.
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Co-signers for in-store transactions
Sleep Country Canada offers in-store financing through Flexiti, a leading provider of point-of-sale consumer financing solutions for retailers. Flexiti's buy-now-pay-later platform offers customers 0% interest financing with flexible payment plans.
Customers can apply for a FlexitiCard in-store and will receive a response within minutes. Upon approval, the FlexitiCard can be used to make multiple purchases within the customer's credit limit without needing to reapply.
Affirm, another financing option, is integrated into Sleep Country's online checkout process. Affirm offers payment plans of 6-12 months, with the option of adding a co-signer for in-store transactions.
It is important to note that Sleep Country's financing options may have changed or been updated since the information was last made available. It is always a good idea to check with Sleep Country directly for the most up-to-date information on their financing options and requirements.
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Frequently asked questions
Sleep Country offers financing options through Affirm for online purchases and Flexiti for in-store purchases. Affirm offers payment plans of 6-12 months, while Flexiti offers 0% interest financing.
For Affirm financing, select Affirm as your payment option during the checkout process and follow the application instructions. For Flexiti financing, apply for a FlexitiCard in-store and receive a response within minutes.
Sleep Country financing allows customers to make purchases without needing to reapply for financing for future purchases. It also provides flexible payment options and can help make purchases more affordable.
