Finance On Tiles, Would It Help You Out!?

[Ashley Fabian]

Good Morning,

I have a question for the community, if your local tile shop was to offer a 0% APR deal when purchasing your tiles would you make use of it? also could it sway your decision into choosing the tile your really want and not the one you can afford?

The reason i ask is that more and more shops are offering 0% APR deals to their customers and i for one would most defiantly consider it if it could help cash flow on my project.

Your responses are greatly appreciated.

Thanks in Advance

Ashley
The Tile People Ltd

 

[Spare Tool]

Can only speak for myself but I don't supply any tiles, just materials, i recommend my local tile shop to my customers, they go in there and buy the tiles. My local shop gives me at least 30 days 0% on materials, usually settle up soon as jobs completed though.
If you were to offer the public 0% finance would that then not mean you having to do credit checks etc and need the backing of a finance company yourself, what about the muppets that you WILL get that welsh on your agreements, you cant go ripping there bathrooms out, it'll end up in court and could start getting messy, only my opinion but is it worth the hassle..

 

[Ashley Fabian]

Hi Andy,

We are a tile shop so we only sell the goods. The main reason i ask is because over the past 6 months i have been approached by several companies offering me the opportunity. All our account customers get the same terms you do. But we get hundreds of retail customers each year that don't buy the tiles they fall in love with because of the budget.

Its a simple online process and a 15 min answer, the underwriters either accept or deny and the customer can choose to pay a deposit of anything up to 50%. The finance company pay us the balance on delivery of the goods, then its down to the finance company to retrieve the monies. It would only be for larger orders £1000 and upwards.

But the way i see it is that if i had £5000 for a car and the dealer was offering me 0% APR i would probably choose to keep some of the cash or even upgrade what i buy.

 

[Old Mod]

Porcenalosa do finance in their stores.

 

[Bill]

You should only ever buy the one you can afford - this is why the country is in a mess with debt!

 

[Ashley Fabian]

The wealthiest people in the UK use finance to keep the cash in their own bank.

 

[Spare Tool]

The wealthiest people in the UK use finance to keep the cash in their own bank.

You did actually say yourself this idea was to let people choose the tiles they wanted not what they could afford which is not always a good thing.
My grandad installed in me only buy what you can pay for.
How does a finance company actually make any money if there giving loans out at 0%?
In my experience of wealthy clients, which admittedly isn't that much but dealt with a few, they'd use the cash they have to get substantial discounts at the counter and not mess about financing up a couple of grand for tiles..

 

[Ashley Fabian]

You did actually say yourself this idea was to let people choose the tiles they wanted not what they could afford which is not always a good thing.
My grandad installed in me only buy what you can pay for.
How does a finance company actually make any money if there giving loans out at 0%?
In my experience of wealthy clients, which admittedly isn't that much but dealt with a few, they'd use the cash they have to get substantial discounts at the counter and not mess about financing up a couple of grand for tiles..

We would pay a percentage. A lot of customers would put it on credit cards and they will be paying interest on them. If you was to walk into a VW dealership with 10k in your pocket for a new van, but the van you really wanted was 12.5k and they offered you 0%APR would you not take it, or would you settle for the van you could afford and cough up the full 10k!?

 

[Spare Tool]

See what you saying and funny you should say that, me n misses bought a brand new VW golf 2 years ago, list price £22,000..immediate bank transfer got the price down to £19,500. We wouldn't have got any discount on a finance package. Starting a job tomorrow my customers got the price of there tiles down from £40-£25 for cash, everbody knows there's plenty of mark up on everything in the shops and deals can be done, but not usually when your on the backfoot already and asking for finance.

 

[Italy]

Here in Italy, if you go to buy a car with credit transfer of € 20/25000.
after 15 days arrives tax office letter and wants to know where they came from money .....
I personally have always done funding, to avoid problems.
andy the speech was good a few years ago, here in italy with financing or cash, the price remains the same.
example, contract van 1 and 2 cars for a total of € 46,000 up to € 40,000 contracted.
cash or financing, the price to be the same
you just have to bargain.
a shop I think nowadays must also provide funding.

 

[Bill]

We would pay a percentage. A lot of customers would put it on credit cards and they will be paying interest on them. If you was to walk into a VW dealership with 10k in your pocket for a new van, but the van you really wanted was 12.5k and they offered you 0%APR would you not take it, or would you settle for the van you could afford and cough up the full 10k!?

but that is buying something you can't afford - that is why you will be in debt. Can you not see that?

 

[John Benton]

Debt is fine as long as its under control and manageable. Once it is neither of those 2 then you are in trouble.

@Tom Astley that is indeed correct, lending people 5 times their joint incomes, for example, then it was only a matter of time.

 

[Time's Ran Out]

If you haven't got the cash to pay now wait till you have.
There is no crystal ball to read the future. When someone goes bust owing you 20k it gets difficult to pay off credit.

 

[Rizzle from the Portizzle]

do you do finance asked about once every two years .have you got these in stock every day all day .thats what realy wins sales all day long

 

[One Day]

No. I prefer to pay for things as I need them. Finance would be a temptation to spend more than I could afford.
Or worse, make me lazy in asking for deposits on any materials I might provide.

Incidentally - to add: 0% finance only really works on the basis that people who fail to pay off in time will then become "profitable" customers.