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12 Months Same as Cash Financing?

Discussion in 'The Taxidermy Industry' started by Ozwalt, Mar 7, 2009.

  1. Ozwalt

    Ozwalt New Member

    Of course, there are a ton of taxidermists out there that have no problem with payment plans when money is tight for customers -- I'm one of them. BUT, for the last 15 months or so, the honor-system payment plan hasn't been working so well around here. Which has me wondering about setting up an arrangement with Household Finance or GE Money Bank or one of the other quasi-credit card companies that fund those "12 month same as cash" offers you see when buying a new mattress or freezer. I'd get my money up front, and the customer can fight it out with their lender. Anyone out there tried this yet?
  2. I set something up like that 15 years or so ago had a friend that was a manager of a finance company the problem is your customer has to have a product from you before the finance company will cut a check so you have to get the work done and the customer approves it before you are paid. If you can wait for your money it works good if not well. I still have it in place but I beat I don't get 2or 3 a year that use it.


  3. Ozwalt

    Ozwalt New Member

    Aha! I knew there had to be a catch. Thanks Steve.
  4. trainhuntfuel

    trainhuntfuel New Member

    There's a new company that does this now. I was on here looking for info on the same topic and found a feed. Their website is www.trophyfunding.com
  5. Seems like way too much trouble. I was going to say you really shouldn't mess with it if you already have enough work to keep you busy, but even if you don't I don't think it would be worth it. Any time you have out of the ordinary stuff like this, you generally spend way too much effort to justify it. The other thing is this type of customer more than likely isn't the kind that's going to help your business thru referrals.
  6. DL

    DL Well-Known Member

    More lie 12 year payments same as cash.
  7. boarhunter67

    boarhunter67 Well-Known Member

    I have customers who can't afford to pay large amounts so I just take a deposit to get it going and every month or so they come by with a little or call with a credit card and I add it to their total. When it gets close to the total, I start their mount. I've gotten a lot of work from people who appreciate that service.
  8. tem

    tem Well-Known Member

    I know a friend who lets customers wait till after the new year to make a payment. helps them out over the holiday's.
  9. pir^2h

    pir^2h Retrievers give you the bird

    This is just my opinion but I think anyone who is worth anything as far a credit goes could get a charge card and put it on their Visa or Master Charge. If they can't get this it seems to me unlikely that a finance company (especially a small one) would be willing to take much of a risk on this type of customer. Or they could join a credit union. They are more likely to loan money on a signature than a finance company.

    I worked at a place that sold electronics once and those 12 month same as cash contracts cost him 4% off the top (discount rate). I would get more information on the particulars before jumping into this.

    I have used this at Lowes when I needed appliances. Eighteen months, no interest. Just make sure you pay it off before that or it will really cost you! I paid off my house seventeen years ago and have not paid a penny in interest since.
  10. Keith

    Keith Well-Known Member

  11. boarhunter67

    boarhunter67 Well-Known Member

    I take credit payments, but many would rather have six $100 payments on their credit card than one $600 charge.