Machine finance paid off

[milkloss]

Last payment due on our jcb telehandler, woohoo! Was longer than I'd like but the old manitou had got a bit old and probably won't replace the jcb for a year or two yet I hope.

Is it like giving up smoking where you save £90 a week yet you never seem to have the extra cash to blow on something else? Should I replace something else, and believe me there's a lot that could do with replacing, to make sure the wheels go round or try and enjoy a little less pressure?

Kind of rhetorical really but it's just nice to know it's paid and done.

 

[Princess Pooper]

I would have thought it depends on your finances. Do you NEED something else? Are you addicted to spending? Could you use your money better? Reducing other debt? Investing in something to make your operation more efficient? Building up a war chest for the uncertain times ahead? You might go and buy something else that actually would be fine for another couple of years and then the milk or beef price drops 15% and you wish you hadn't.....

 

[milkloss]

I would have thought it depends on your finances. Do you NEED something else? Are you addicted to spending? Could you use your money better? Reducing other debt? Investing in something to make your operation more efficient? Building up a war chest for the uncertain times ahead? You might go and buy something else that actually would be fine for another couple of years and then the milk or beef price drops 15% and you wish you hadn't.....

Yes, I suppose for us it's the smaller jobs that need doing yet aren't really big enough to warrant finance but still need paying for somehow: patching concrete, machine reapairs (handbrakes etc), all that sort of stuff that adds up to a good few K. Should be paying for it with cash flow but in our position at the minute is a bit hit and miss. Shouldn't think I'm the only one...........like to think I'm not alone anyhows!

 

[coomoo]

Same here two things on minimal finance, catch up and warchest is the plan here.

 

[wasted years]

I had 2 items totalling 35k on finance and only 1 left with £2500 to go , neither need replaced it was just a case of spending where the business needed it most but the cash wasn't spare to do it at the time.
It looks good on one's CV if nothing else.

 

[Sonoftheheir]

Nice to have a reliable machine to use (especially when very busy) and nice not to pay too much tax. But everything is ridiculous money when you enquire.

 

[Sonoftheheir]

Also it's a tread mill isn't it. There's always something that needs upgrading. But it's such a nice feeling when you've made the final payment.

 

[crazy_bull]

if you don't buy something else I would keep the same amount of money going out of the main account, but divert it to a separate account, you won't notice it going (as it has been all the time) after a year or two you will have a nice lump to play with.

CB

 

[Headless chicken]

if you don't buy something else I would keep the same amount of money going out of the main account, but divert it to a separate account, you won't notice it going (as it has been all the time) after a year or two you will have a nice lump to play with.

CB

This is what I hope to do soon

 

[Princess Pooper]

Yes, I suppose for us it's the smaller jobs that need doing yet aren't really big enough to warrant finance but still need paying for somehow: patching concrete, machine reapairs (handbrakes etc), all that sort of stuff that adds up to a good few K. Should be paying for it with cash flow but in our position at the minute is a bit hit and miss. Shouldn't think I'm the only one...........like to think I'm not alone anyhows!

Getting a handbrake fixed and possibly avoiding someone killing themselves when it rolls onto them is a darn sight more important than buying something shiny! 'In our position'; you say, which suggests you are up against it - so why incur more debt? Kit should not need replacing as soon as it's come off tick.

 

[Sonoftheheir]

I was thinking the other day, if there wasn't finance would machines/cars be as expensive? Only way we can get stuff now is paying over a few years.

 

[Nithsdale]

I was thinking the other day, if there wasn't finance would machines/cars be as expensive? Only way we can get stuff now is paying over a few years.

Stuff would be a lot cheaper. But it's deliberately high.

Society built on debt to keep the country's wheels turning...
The bubble will, eventually, burst.

 

[David.]

No it won't, it will not be allowed to.

 

[Nithsdale]

No it won't, it will not be allowed to.

Until we (the country) can't afford to keep it going.

The UK is piling debt ontop of debt... we are pretty close to breaking point already.

 

[David.]

Shall we yet be taking all our possessions to the shops in a pram to swap for a loaf then?

 

[Sonoftheheir]

I believe it's in the governments interest to keep the masses borrowing.

 

[bankrupt]

Shall we yet be taking all our possessions to the shops in a pram to swap for a loaf then?

Inflation is said properly to kick in, David, when first you take a pram load of money to swap for a loaf only to have the pram stolen and all the money tipped out.

https://en.wikipedia.org/wiki/Bankn.../File:Zimbabwe_$100_trillion_2009_Obverse.jpg

 

[roscoe erf]

Yes, I suppose for us it's the smaller jobs that need doing yet aren't really big enough to warrant finance but still need paying for somehow: patching concrete, machine reapairs (handbrakes etc), all that sort of stuff that adds up to a good few K. Should be paying for it with cash flow but in our position at the minute is a bit hit and miss. Shouldn't think I'm the only one...........like to think I'm not alone anyhows!

cash flow is the Bain of my life never got it when i want it

 

[Still Farming]

Any ppi on it too ?

 

[Martin Holden]

So much of commerce now is funded by short term borrowing. This is all well and good so long as at the end of the primary (rental/lease) period there is a market for the products in question. Without that the sums wouldn't add up. It never ceases to amaze me how 2-4 year old ex pcp cars seem to find a home. They need to be great value otherwise everyone would buy new on pcp plans. Farm machinery differs as in many cases there is no market for the used trades in machine due to changes in sizes -everything seems to get bigger as fewer farms need fewer but bigger machines. So to say "the bubble will burst" is unlikely especially after the last banking crisis of 2008! And then it was us, jo public, the tax payer bailing out the banks!!