was wondering if anyone has fininced a trans. lets say like a mendeola 2D or similar.

Like on a credit card?

ok sorry folks, this thread wasnt supposed to go through as i was in the middle of typing when the baby decided to climb the kitchen table (again ) anyhow. what i was getting at was if anyone within thier building processes have come accross a buggy shop, supplier, ect, that allows finincing on smaller purchases other than complete buggies. of course there are builders that have their own finincing on turn key cars. but does anyone know if they also do this on lets say engines or transmissions ect. reason i ask is that i keep hearing about all the shops going belly up and thought 'what if they did their own financing on parts aswell" that way all the folks useing credit cards right now when buying thier new parts to get ready for the season can help the shops a bit more by also letting the shop gain the finance charges/interest. why let the banks make all the money, you know?

your priorities are effed if you're considering this. People finance cars, trucks, houses, medical expenses. If you're trying to finance a tranny so you can go to the dunes, dont complain when you lose the house because Bush effed up the economy.

Would this be one that was so quiet OB would be proud. Would it have a reverse that you could use?

Is this an OB joke?

My .02 if you were/have to finance a trans it would probably need to be "freshend up" before you would have it paid off depending on finance term. In other words you probably should have bought a more budget minded buggy.

Why would a shop trust you?

Maybe talk one of them into a lay away plan.

pretty much all shops buy their parts c.o.d. therefore they dont even get the parts till they pay for it form the manufacurer. if they are already struggling then they sure arent gonna pay for a part in full and sell it to someone that cant pay for it in full at once.

maybe you didnt read the follow up post. not just transmissions, but engines or any other high dollar parts are allways being purchased with a credit card. and of course the bank is making alot of money on it. to help keep our buggy shops and supply houses going i thought it would make sense that the shops also offer the same type of deal on parts and not just turn key cars. im not sure i am reading your post correctly, but it sounds like your saying its ok to finance a complete car, or a new truck, ect, but its foolish to buy just a transmission or engine? and no i am not financing a transmission or engine or anything. atleast not right now. if i need to buy a new trans because mine blows, you bet i will so i can get back into the dunes. and i think i am not the only one. ask how many people have actually financed their entire car and see what you come up with. its more common than you might think.

I dont think many buggy shops could do this like Kevin said its usually COD thats why the get such large installments on builds.......

The way I understand it, the buggy builders have to be lisenced as a manufacturer in order to be able to offer financing, also that financing comes from a bank and not the builder, the builder is paid in full. When I build a trans I get enough deposit to cover the majority of the parts(all parts come c.o.d.) As a trans builder I understand that it is always the trans builders fault when any thing happens(remember a certain axle that was punching side covers out?) The last thing I want is to have and chase money that is owed to me so I can pay bills.

I think I understand your question, but the way I see it is, if a company is all ready going under they are not going to have the funds to front parts for customers.

The way I see it, is if I have to finance parts for my toys I am probably spending out of my means. Just my opinion. I could make the payment on a buggy but can I afford to fix it when it breaks? NO! That's why I don't own one. Even the best built buggies will break!

I think we all understand the question... why not let the ma & pa shop reap the benefits of making money off of the interest. Well, as was said earlier, those parts come COD which means they are alreay paid for before the driver (UPS, Truck Freight,etc.) will leave the product. Now, I can't speak for the Off-Road industry but I can speak from a lot of years in the custom motorcycle industry, the more expensive the peice equipment the less profit margin there is. So if said builder had to purchase YOUR transmission for, let's just say for the sake of argument, $8400 and you pay $10000 for it, that's roughly a 20 point margin. Now if the builder had to wait for you to pay for that transmission over say a 2 or 3 year period the return on investment isn't there. Not good business! And people would not stand for a business owner/builder charging 29% interest like a credit card if you were late on a couple payments.

What's to stop you from defaulting on the loan if the transmission breaks? Builder has no collateral, except a used up trans. And then to top it all off, someone is going to have to do all of the computer work that would send out the bill to you with all of your computed finance charges and the like. I am sorry, I just don't see how it could be remotely feasable. Builder is a builder, not a finance company.

BTW, those that do offer financing, it is not "in house" it is through a financial instituition and that bank is assuming the (your) liabilty and judging your ability and willingness to repay debt. Hope this helps.

I have some back ground in Finance, so I'll put in my 2 cents. When you buy items on a credit card, its called an unsecured purchase. The lender has zero recourse against you meaning they can't come repo it from you if you don't pay. People that bought rails with loans, have a car with a VIN number on it, that allows a lender to file a lien. Motor Vehicle Departments can only place a lien on something that has wheels and a VIN number that roll down streets and highways. If you default on your payments, the bank can go down the repo road with you. If you ever look at boat loans for example, the trailer is the only thing the MVD can lien. You have this pretty $6000 trailer with a recorded lien of $60000 on it. Banks can also file a UCCR against the motor and trans on boats, but it's very hard to enforce collections on those. To be able to put a VIN number on something you have to have a manufactures license and a dealers MVD license. Fab shops or a parts warehouse can't carry the debt, they need a bank or finance company to do that. Bankers look at potential loss vs profitability. Placing a loan on a "TOY" part, like a high performance engine or trans is very risky, has almost zero recourse, and very little if anyway to minimize the loss even if they did get the part back. They don't have an auction house for repo motors and trans for example. Lots of down side, limited up side for the bank, hence the reason you don't see it offered.

Another short example is in the HVAC industry. You can get a loan for a A/C unit on your house. They file a lien against your HOUSE, not your $6000 A/C unit and if you don't make your payments then, they can enter into default against your $400,000 home that's concreted to the ground, and they don't have to go looking for it....See kinda what I'm talking about?

ok duh, that makes sense. not sure what i was thinking. i for some reason was thinking the buggy shops had thier own financing. i just remember about 15 years back when construction was slow, i subbed for a contractor that set up his buisness to accept credit cards. but NOW i remember what he did was to charge and extra percentage when the client wanted to pay by credit card. on the contract it said something like "3 or 4 percent added useing credit card". he told the clients up front that there was an extra charge for credit and they had no problem with it since they were able to actually finance the entire job. that 3 or 4 percent actually added up quik from what he told me and he was able to keep busy and actually got more clients than alot of other contractors because he had the option. he didnt have to front any money, just had to bill the credit card company, i guess just like any other purchase. why i thought that would work with the offroad buisness i have no idea. i just hate to see so many buggy shops folding. sorry for the stupid thread.

Most everyone hates to see shops (at least good ones) close. However once everything levels out (if we don't have a total collapse) things will be much more realistic and stable. I can't think of too many industries that didn't need to be stabilized at least in some measure.

When you post a thread you have to overlook some of the posts attacking your question.

if you really want to help the builder out then dont use a credit card, they pay a % of the bill to the credit card company and actualy put less in their pocket

good point, and believe me i really didnt want to even post the thread. i hit the post button in a panic. oh well, i deserve the flaming. sorry guys.

I wasn't trying to flame you. Stricly speaking for myself though . Just making a point. And even in your example of your construction buddy taking credit cards and charging an additional 3-4%, in reality he was probaly making 1- 1.5% if he was lucky because the credit card companies charge the business owner a percentage of the trasaction as well... including the freaking tax! I had to resort to a surcharge as well on credit card transactions, it just gets too expensive to precess them as just about everyone will use a debit or credit card for most purchases anymore.

Not to take this down a different road, but in light of the current economy; I don't think any shop or any bank offers financing on sandcars anymore. I notice all the ads no longer say "financing offered". I did find it strange, since you can still finance a 60,000 boat, chopper, or airplane. Let me know if I'm wrong.