Re: Customer financing

Posted by Kelly C on February 17, 2003 at 08:35:50 from (63.171.43.140):

In Reply to: Customer financing posted by Cowlitz Tractor Co. on February 16, 2003 at 21:35:32:

I have owned a company that sold consumer products. About the only real option you have is to set up a account with Benefichal (sp?) HFC ect.
Most offer a 90 days SAC with payment options after that.
Interest rates are high but if some one wants one of your tractors and need payments. What you gona do?
If you have never done business with a finance company. You may have to have a hold back account.
They hold back like 20% to pay off non paying customers. If your papper has a good percentage of payments you can get rid of the hold back.

How I sold this papper was. I sold it as 90 days SAC told the customer. After 90 days if they found a better rate some where just pay it off that way. Or they could set up payments with them.
If they set up payments with them your payment would be about X dollars.
They also offer a revolving account.

Check with a consumer electronic store and see who they use.

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