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Discuss Do you offer finance? in the New Member Introductions area at UKPlumbersForums.co.uk.

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  1. island fling

    island fling Member

    Evening all,

    I am wondering if any of you do finance options for boiler/heating installs?

    I am looking into offering finance for boiler/heating installs, maybe bathrooms in time. Is this something any of you have done? Any suggestions?

    This is my thoughts on pros & cons.
    Pros - Extra income, increase work load/income, offering a service nobody else does on the island, paid right away from finance company.

    Cons - Extra paperwork, financial conduct authority, what happens if people fail to pay?

    It is just a thought for now but willing to hear any good or bad experiences.

    I have a card machine & for customers with a credit card it has helped them a lot. We have quoted for 6 new boilers in the past 2 days, out of 6 there has been 2 that have asked if we do finance or card payment to use a credit card to help spread the costs....This is what got me thinking.

    I have mentioned to a couple of good customers today that it is something I will be looking into & it has had a great response.

    Thanks.

    Edit - put this in here as I couldn’t see where to start a new thread other than in new members.
     
    Last edited: Jan 9, 2019
  2. Harvest Fields

    Harvest Fields Trusted Plumber GSR Top Contributor!!

    Nope
     
    • Agree Agree x 1
  3. rpm

    rpm Trusted Plumber Top Contributor!!

    Out of interest, which card reader & what are the costs nowadays for card payments ie 1.5% or ...?
     
  4. SimonG

    SimonG Trusted Plumber Top Contributor!!

    Might be something in the search. Remember this being discussed at some length a while ago.
     
    • Like Like x 1
    • Winner Winner x 1
  5. island fling

    island fling Member

    I’ve got a paypal one. Really i got it because I had a few sticky payers, all using poor excuse ie havent got money till the end of the month but have a credit card but costs too much, forgot to put the check in the post, thought the wife was paying it ect.
    There isn’t a monthly fee, just a 2.7% (I think) charge that I add to the customer. Helped me to get money in as I went to the door & asked for payment, nobody can deny having a credit/debit card when they are at home.
    Drawback is the 60 days you wait to be paid from PayPal, sometimes it’s faster but it was better than the months I waited for some customers.
     
    • Informative Informative x 1
  6. island fling

    island fling Member

    Did have a wee look, think it might have been in Arms but I couldn’t view it.
    If there is another then admin can feel free to shut this down, I can search again. Thanks.
     
  7. SimonG

    SimonG Trusted Plumber Top Contributor!!

    60 days, ouch.
     
  8. rpm

    rpm Trusted Plumber Top Contributor!!

    Ah, you haven`t had the "My ex pays all the bills on the house, I`ll send the bill to him" story. :)
     
    • Funny Funny x 1
  9. rpm

    rpm Trusted Plumber Top Contributor!!

    Hope that isn`t linked to your main account or even your business account then.
     
    • Like Like x 1
  10. island fling

    island fling Member

    TBH mate with island life we regularly have to wait a couple of months, hellish really how folk don’t care. All of us are in the same boat up here though & it’s just seen as normal self employed life. It’s actually the expensive jobs that get paid soonest, small jobs under a grand can take ages especially if it’s emergencies as people plead poverty as they didn’t expect to have to do the job...
     
  11. island fling

    island fling Member

    Only a couple of times. One when the wife paid her half but the husband refused to pay because she was living in the house till it sold. Was only a £120 job too!
     
  12. townfanjon

    townfanjon Trusted Plumber GSR Top Contributor!!

    My customers are so effluent they dont need loans
     
    • Funny Funny x 3
  13. island fling

    island fling Member

    For what reason? My PayPal is linked to my business account, my invoicing system supports card payment & I notes the interest cost & my accountant deals with it from there, weather it’s a business expens or what I’m not sure.
     
  14. island fling

    island fling Member

    I always thought they were the worst payers!
     
  15. townfanjon

    townfanjon Trusted Plumber GSR Top Contributor!!

    I wont deal with anybody that doesnt pay ,
    Read comment again lol
     
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