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18/11/2008 4:58 am
Here is a thought!!!!
I have been thinking about this for several weeks now. About a payment plan of 2 or 3 payments on cars.The economy is tight now and not everyone can afford our hobby.We could make a payment plan on some cars and that would help you out and me.As everyone knows it is very slow now and with Xmas coming you can help me out also with getting some sales.As you know I don't make a heck of alot on my sales.I would be happy to help you out also.So please let me know what you think.God bless America!!!! Bob
18/11/2008 5:32 am
Very generous of you, but I think you're going to have some accounts receivable problems.
Ultimately, it's going to force you to get "firm" and it will likely cost you some relationships. Not trying to be a doomsayer but that is a reality when extending credit terms. On the other hand, it will probably increase your sales. It's a double edged sword and I'd think long and hard on that one.
18/11/2008 6:27 am
Bob...
Good thought, but bad idea. Having worked in the credit industry for 30 years, I hava to agree with Marlowe. Extending credit will become a nightmare, and in the end, you will lose out..not only on money owed you, but friendships will be strained as well.
Bottom line is this, if folks can't afford to buy a car from you, and pay for it up front and in full...they shouldn't be buying it. Yes times are tough right now, but extending credit is not a good idea.
I always define buying something like this...
NEED versus WANT. None of us need these little cars...we want them. We should be able to afford them if we want them.
To each their own though.
My best to you Bob, and I agree, GOD BLESS AMERICA!
George Schire
Oakdale, Minnesota
18/11/2008 6:32 am
Bob, An ALTERNATIVE would be a Lay Away Plan! They get car when all payments are paid!
You hold it till they send say three payments of $35 each on a $105.00 car ($90.00 car + $15.00 Freight)just like the Mint, however you hold the car till it is paid for.
18/11/2008 6:40 am
Do a "lay-away" plan. That's how I bought a car from Bob Davis
Once Bob had all of the money... he shipped the car.
18/11/2008 7:27 am
Bob, I think the layaway plan should work for most people.
Beggars can't be choosers and not having money is can be a problem for some of us so it would be a small sacrifice to just wait until it's paid off.
USAF 1958-62
18/11/2008 7:48 am
Bob, I would agree with a "Lay-a-way" plan.
When all payments on the car you are selling are paid...you ship the car. No way for you to lose out on that one.
Of course, there is still some bookkeeping that you will be responsible for. But, it should work well.
Good luck with your plan.
George Schire
Oakdale, Minnesota
18/11/2008 8:53 am
Excellent solution!
18/11/2008 11:40 am
Bob, although you and I have never had any problems on sales, there will be a time or person(s) that will give you some collection trouble. I would go with the layaway plan. It would be the safest for you and would "urge" the buyer to make timely payments..... I also believe it would help your overall sales.
18/11/2008 2:44 pm
Wouldn't PayPal work better?
I know there is a fee, but in the long run you would be better off. Someone else takes the credit/collection risk.
18/11/2008 5:28 pm