Finance hassle

[Mark Bolam]

Just been turned down for finance on a new chipper, apparently because I run as a limited company with a small turnover. No bad credit history, and I tried explaining turnover and PROFIT would increase when I get a bigger chipper.

 

TBH I got the impression they just don't want to lend money at the mo.

 

The chipper I want is available now, so I need to act quickly.

 

What next? Bank? Lottery? Loan shark? Different finance company?

 

Thanks.

[TimberCutterDartmoor]

Parents?!

 

Which chipper?

[skyhuck]

Personal loan.

[Stephen Blair]

make business plan with projections on how the chipper will help you make money, then give it to them. but i would borrow of a family member if possible and offer them a better interest rate than what they are getting which shouldnt be to hard these days

[Mr Ed]

.

 

What next? Bank? Lottery? Loan shark? Different finance company?

 

Thanks.

 

Call me tomorrow 07969 960 450. I have a friend that runs great little private finance company that would certainly look at the deal. Just dont expect to get a good (read cheap) deal on finance right now.

[Steve Bullman]

mark, are you buying from a dealer or private? my advise would be to go with a name you know for your finance

[Stephen Blair]

jcb finance is one of the best companies to deal with, as long as it isnt a competitor machine they will finance you, but if you have a low profit on the books for last year then you may struggle mate

[Mark Bolam]

Thanks fellas.

 

Machine is an as-new ex-dem TW125 from a well known dealership.

 

Used this model of machine extensively for a mate, and it's perfect for the niche I'm fitting into these days i.e. mainly mrs. miggins with the odd biggish fell or clearance and Monday morning chipping (muppets who have felled their own stuff at the weekend and can't fit it all in their Halfords trailer), which is usually on me tod, hence the need for a light machine.

 

I'm not asking them to finance a Bandit!

 

Damn the sub-prime debt scaredy cats!

[tommer9]

Thanks fellas.

 

Machine is an as-new ex-dem TW125 from a well known dealership.

 

Used this model of machine extensively for a mate, and it's perfect for the niche I'm fitting into these days i.e. mainly mrs. miggins with the odd biggish fell or clearance and Monday morning chipping (muppets who have felled their own stuff at the weekend and can't fit it all in their Halfords trailer), which is usually on me tod, hence the need for a light machine.

 

I'm not asking them to finance a Bandit!

 

Damn the sub-prime debt scaredy cats!

 

The stupid thing is that if you wanted to borrow shed loads you wouldnt have a problem- its small stuff they arent interested in at the mo- exactly what they have been told not to do. Tossers.

[Tom D]

Go on a price comparison site and get the best deal you can on a personal loan, you can still put it through the business and claim back tax on the interest.

I bought my first one on a credit card, 0% interest deal, i transfered the ballance a couple of times and never paid any interest for 2.5 years. I dont know if there are as many deals like that out there now though.