When would you expect to pay for a new piece of machinery?

neilo

Member
Mixed Farmer
Location
Montgomeryshire
,I don’t want it on finance,never had a piece of machinery on finance I doubt I ever will.

With the right finance agreement, you can pay it off without penalty at any time. You could put it on finance, take delivery, then pay it off as soon as you’re happy with it.
The only cost would be the document fee and a month or two’s interest.

Cheap insurance against a dealer with a chequered history?
 

Highland Mule

Member
Livestock Farmer
Thank you , I was not aware of this upper limit. Apologies to all who may have read my previous post
To be fair, I'm usually pretty hot on knowing that sort of thing, have claimed a good few grand in the past (almost £5k from Thomas Cook in 2019), have put over £20k of travel in a single transaction on a card for protection in the past and I only came across the £30k limit recently.
 

Exfarmer

Member
Location
Bury St Edmunds
To be fair, I'm usually pretty hot on knowing that sort of thing, have claimed a good few grand in the past (almost £5k from Thomas Cook in 2019), have put over £20k of travel in a single transaction on a card for protection in the past and I only came across the £30k limit recently.
Having £25k hanging on a holiday which has been cancelled twice, i was a little concerned at your post but I am hopefully safe. Thanks for the tip!
 

Highland Mule

Member
Livestock Farmer
Having £25k hanging on a holiday which has been cancelled twice, i was a little concerned at your post but I am hopefully safe. Thanks for the tip!
Hopefully a decent card issuer. My top tip for big transactions like that would always be AMEX - the old Platinum chargecard was excellent with no (official) spend limit.
 

Flatlander

Member
Arable Farmer
Location
Lorette Manitoba
I built grain bins here to hold 1300 tons with aeration heat cables and all the concrete and put it on a new credit card. Only reason was to get the insurance in case it bins never showed up and I was getting points for every dollar spent with the new card. Paid it all off before end of the month and had a free trip to Jamaica with the points fir the family. Not sure if it’s the same in the uk but lease payments are 100% tax write off. As opposed to 8 or so years on the trickle. Only kicker is when you sell that item it becomes profit.
 

Highland Mule

Member
Livestock Farmer
Amex, they asre not exactly cheap!!!
The fee has gone up a bit since I had mine - it's over £500 a year I think now which is probably too much. I was making a huge use of the airport lounge access though (probably 100+ times a year), which made it acceptable. Add in the worldwide travel insurance (very good coverage) for card holder, supplementary card holders and families (probably about 20 people for me) and it was a no brainer. I was quite delighted when my case was delayed 24 hours at the start of a ski trip as AMEX paid for new gear for my wife with no quibble.
 

Blue.

Member
Livestock Farmer
I’ve a personal credit card that I’ve only ever used for business,it’s paid off every month automatically and I only have it because of a bit of cover from fraud etc,someone once bought a £3.5k bathroom suite using my card but it was refunded straight off,I remember telling my brother not to use a debit card for online purchases as they’d empty you bank,he replied with “I’ve a different strategy,there’s no money in my account” 🤣
 

Sid

Member
Livestock Farmer
Location
South Molton
so 28 days later like all out grain is ?
Milk is up to 47 days or as low as 17.
Paid on 17th for last months milk sold.

It’s just over £30k,my credit card limit isn’t high enough,I don’t want it on finance,never had a piece of machinery on finance I doubt I ever will.
Finance could be a useful tool here.
Anything under 25k IIRC can be paid back with no recourse as to the interest forgone. Over 25k and you would have to pay the lost "income " for the company.


Sometimes machines are paid for before they arrive, sometimes days,weeks or months after they arrive. Demo machine never left, paperwork was sorted by end of week.
3 months was longest on tractor, it arrived the afternoon the deal was done,the paperwork took 10 weeks.

It's all about trust and relationships
 

essexpete

Member
Location
Essex
You have to see from both sides? An agent/dealer takes a deposit and delivers goods. What happens if the purchaser then defaults? Most on here would not let a secondhand piece of equipment go out of their yard without full payment.
I think if the two parties have a long standing trading relationship, then 28 days ought to be acceptable.
 
Last edited:

ColinV6

Member
It's all about trust and relationships

Absolutely this, and why I find that if you get on well with a dealer and salesman, you’ll get far far better service and treatment if you build up a relationship with them.

Dealing with someone for the first time is always a ball ache, they don’t know or trust you and you could be one of the many time wasters spoken about in the recent thread on demonstrators.
 

DrDunc

Member
Livestock Farmer
Location
Dunsyre
So what would your terms be?

Importer passed my enquiry on to this dealer as they’re the nearest to me.

Dealer is 60miles away,I’ve agreed it to be delivered to my yard.

It’s just over £30k,my credit card limit isn’t high enough,I don’t want it on finance,never had a piece of machinery on finance I doubt I ever will.
The £30k imported machine is being delivered to your yard, and not behind the padlocked dealer gates?

What's the problem?

Payment upon delivery, or tell the importer to invoice through a different dealer. No skin of anyones nose except the cash strapped, possibly near bankrupt dealer?

Or does the dealer think you'll default on payment?
 

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