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Thread: Paying for espresso machinery

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    Paying for espresso machinery

    Gene Cafe Coffee Roaster $850 - Free Beans Free Freight
    Quote Originally Posted by 2D363F292A275E0 link=1301294820/284#284 date=1302834298
    Quote Originally Posted by 4157525243414D44444747220 link=1301294820/283#283 date=1302828050
    And whether I sell the machine or not, based on my sighting and use, I would still recommend it.
    Thats good enough for me, but......
    I wish I had a spare $1,299-1,499 come June [smiley=cry.gif]
    In an effort to differentiate ourselves from the big appliance stores, apart from our ability to demonstrate the machine and provide after sales support, Im thinking of offering some sort of lay-by system for these. Its just an idea for the moment.


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    Re: Paying for espresso machinery

    Quote Originally Posted by 4E585D5D4C4E424B4B48482D0 link=1301294820/285#285 date=1302834906
    In an effort to differentiate ourselves from the big appliance stores, apart from our ability to demonstrate the machine and provide after sales support, Im thinking of offering some sort of lay-by system for these. Its just an idea for the moment.
    unfortunately youll still be behind - layby operates on pay in pieces, receive the goods when fully paid.

    The big stores have those interest free cards (expensive credit cards), where you pay in pieces, but get the goods right now.

    Id take you up if you offered something like that, but the credit checks and delayed income might be a bit hard for your business if you were to offer it en masse.

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    Re: Paying for espresso machinery

    As a newcomer one of the first things that struck me was the veritible wastland that exists between $1000 and $2000.
    No doubt Breville are hoping to own this price range while also poaching buyers from below and above.

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    Re: Paying for espresso machinery

    Quote Originally Posted by 424A42454F492B0 link=1301294820/286#286 date=1302837900
    cuppacoffee wrote Today at 12:35:

    In an effort to differentiate ourselves from the big appliance stores, apart from our ability to demonstrate the machine and provide after sales support, Im thinking of offering some sort of lay-by system for these. Its just an idea for the moment.


    unfortunately youll still be behind - layby operates on pay in pieces, receive the goods when fully paid.

    The big stores have those interest free cards (expensive credit cards), where you pay in pieces, but get the goods right now.
    No Iain, will never do the latter; have seen far too many people hurt themselves with these arrangements; I would lose sleep!

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    Re: Paying for espresso machinery

    Quote Originally Posted by 7971797E7472100 link=1301294820/286#286 date=1302837900
    Id take you up if you offered something like that, but the credit checks and delayed income might be a bit hard for your business if you were to offer it en masse.
    Not an issue for the merchant - the finance company (i.e. GE) take care of the credit check and application process etc.* They also pay the merchant up front, so no issue waiting for payment... but GE will take a few % of the sale amount for taking on the risk.*

    FWIW, the merchant still bears a cost for accepting other credit cards too - your Visa/Mastercard are still around 1% as far as Im aware.* AMEX/Diners are 2-3% which is why some places will refuse them, or have a specific surcharge.

    Not sure if there are significant administrative costs in setting up to accept a GE card type arrangement, but at a minimum, the merchant has to cop that "% of transaction amount" hit to their profit margin as a minimum.* Offering it en masse is probably the ONLY way it would be sustainable, and of course is reliant on there being sufficient profit margin to begin with to be able to send a 3 - 5% cut GEs way.

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    Re: Paying for espresso machinery

    Quote Originally Posted by 0800080F0503610 link=1301294820/286#286 date=1302837900
    unfortunately youll still be behind - layby operates on pay in pieces, receive the goods when fully paid.

    The big stores have those interest free cards (expensive credit cards), where you pay in pieces, but get the goods right now.

    Id take you up if you offered something like that, but the credit checks and delayed income might be a bit hard for your business if you were to offer it en masse.
    Call me old fashioned, but if I cant afford it, I dont buy it.

    Seems many who take up the offer of buy now, pay later are those who can least afford this type of gear. Too many get caught on the mega interest merry-go-round

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    Re: Paying for espresso machinery

    Quote Originally Posted by 6375707061636F66666565000 link=1301294820/288#288 date=1302839927
    No Iain, will never do the latter;* have seen far too many people hurt themselves with these arrangements;* I would lose sleep!
    Quote Originally Posted by 54616C6B5F436F66666565000 link=1301294820/290#290 date=1302841650
    Call me old fashioned, but if I cant afford it, I dont buy it.

    Seems many who take up the offer of buy now, pay later are those who can least afford this type of gear. Too many get caught on the mega interest merry-go-round
    Its honourable of you to take this stance, but if people are inclined to poor money management, they will simply put this into action elsewhere - especially now that a really capable machine will be available from Breville at their local electrical store offering no interest and no repayments until 2025 (10 years after the machine has bit the dust, probably!)

    Not a knock on the stance youve taken, I can understand and respect if, as a business owner, you dont want to peddle GE.* But, you shouldnt feel you need to take any responsibility for how your customers manage their finances...* Im guessing you dont ask for a bank statement before selling someone a $3k+ machine - just to make sure they really can afford it* ;)

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    Re: Paying for espresso machinery

    Quote Originally Posted by 66535E596D715D54545757320 link=1301294820/290#290 date=1302841650
    Call me old fashioned, but if I cant afford it, I dont buy it.
    But you do accept credit cards dont you?

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    Re: Paying for espresso machinery

    Quote Originally Posted by 596C6166524E626B6B68680D0 link=1301294820/290#290 date=1302841650
    Quote Originally Posted by 0800080F0503610 link=1301294820/286#286 date=1302837900
    unfortunately youll still be behind - layby operates on pay in pieces, receive the goods when fully paid.

    The big stores have those interest free cards (expensive credit cards), where you pay in pieces, but get the goods right now.

    Id take you up if you offered something like that, but the credit checks and delayed income might be a bit hard for your business if you were to offer it en masse.
    Call me old fashioned, but if I cant afford it, I dont buy it.

    Seems many who take up the offer of buy now, pay later are those who can least afford this type of gear. Too many get caught on the mega interest merry-go-round
    I agree, fell into that long ago, ended poorly, never again, Ill stay happy with the Lelit I bought off you simply cause I could afford it. ;D

    Mind you, as with many things, its amazing how much you will try and find the money for something when you really want it...

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    Re: Paying for espresso machinery

    Quote Originally Posted by 2E2B27232F24227D4A0 link=1301294820/291#291 date=1302843410
    Not a knock on the stance youve taken
    Thanks. I was going to write a long-winded response, though suffice to say, I understand that my views are not necessarily shared by others, and Im fine with that. Bottom line is that as long as its my business, its my terms.

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    Re: Paying for espresso machinery

    Quote Originally Posted by 0B2A2121263C4F0 link=1302834907/9#9 date=1302847541
    Bottom line is that as long as its my business, its my terms.
    Respected...*

    P.S. Ill give the role of antagonist a rest now* ;)

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    Re: Paying for espresso machinery

    btw I wasnt implying what anyone should/shouldnt do with their business or money :) Just pointing out some differences I saw.

    Since this has gone "off-topic", IMHO if I can afford to pay for a layby then I can afford to put the money in my own offset account and buy it outright too, but not everyone is capable of the discipline of not spending it!

    IMHO (again) credit cards should be abolished completely...

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    Re: Paying for espresso machinery

    Quote Originally Posted by 3A323A3D3731530 link=1302834907/11#11 date=1302851666
    but not everyone is capable of the discipline of not spending it!
    I suppose once youve commited to a layby, put down the deposit, and know you have x number of weeks to pay it off, this would circumvent some of the procrastination/lack of discipline factor.

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    Re: Paying for espresso machinery

    And what layby offers, that finance never will, is the opportunity to enjoy the novelty of your purchase after its actually paid for!

    Often with finance, by the time the item has actually been paid off, its due to be replaced again!* I like finance, it certainly has its place.* I reserve it for essentials: washing machine, fridge, dryer... and t.v.* *;D

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    Re: Paying for espresso machinery

    nothing wrong with crd cards its the people using them that go wrong.

    if you Google "interest free credit cards" there are plenty of banks offering 0% interest* from 3 -> 12 months on balance transfers.

    whats to stop you buying a machine on your current credit card then balance transferring the amount to a new card and not paying any interest ? Nothing but a little paper work.....

    If you have a card balance you are unable to pay off at the end of the month and your paying interest then YOU SHOULD balance transfer to another bank for 0 interest (or low interst). To many are "loyal" to one or another bank. The banks like it that way....

    Only issue i see with "laybuy" Dennis is you might have to start storing stock, you have to outlay to buy it then hope it actually gets "bought" by the laybuyer. That might effect your cash flow etc?
    The GE model gets it off your books and cash in your till, but you have to take the hit on the % of the sale they get. (whatever that is?)

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    Re: Paying for espresso machinery

    Quote Originally Posted by 434F464B4B422E0 link=1302834907/14#14 date=1302853474
    then YOU SHOULD balance transfer to another bank for 0 interest (or low interst).
    Be aware though, you do risk damaging your "credit rating" (technically no such thing in Australia, BTW) with multiple credit card enquiries on your credit report.

    Quote Originally Posted by 434F464B4B422E0 link=1302834907/14#14 date=1302853474
    (whatever that is?)
    Depends on the promotion.* No interest, no repayments for example costs more to the merchant than no interest with monthly payments.* 6 months IF comes cheaper than 12 months etc.

    In short, somewhere between 2% and 5% would cover it, Id imagine.


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    Re: Paying for espresso machinery

    Quote Originally Posted by 595C50545853550A3D0 link=1302834907/15#15 date=1302854233
    Quote Originally Posted by 434F464B4B422E0 link=1302834907/14#14 date=1302853474
    then YOU SHOULD balance transfer to another bank for 0 interest (or low interst).
    Be aware though, you do risk damaging your "credit rating" (technically no such thing in Australia, BTW) with multiple credit card enquiries on your credit report.
    i agree to some extent, the damage is done if you have multiple ccards / store cards etc as it can drastically lower you borrowing capacity if looking at home loans.

    if you close them as you go it should have little effect



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    Re: Paying for espresso machinery

    Quote Originally Posted by 505C555858513D0 link=1302834907/16#16 date=1302854959
    if you close them as you go it should have little effect
    Possibly.* Depends on the lender, and how tight their approval criteria is at the time.* All credit enquiries (i.e. if youve applied for credit, regardless of whether the application proceeded, or has since been closed) will stay on your report for a number of years.

    If you have dozens of credit card enquiries over a couple of years, some financial institutions will query this.* Some wouldnt care, but some wouldnt give your application a second look!

    P.S. I think were taking an already Off-Topic discussion off-topic :D

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    Re: Paying for espresso machinery

    Quote Originally Posted by 5D746675707F7F7874110 link=1302834907/2#2 date=1302838928
    As a newcomer one of the first things that struck me was the veritible wastland that exists between $1000 and $2000.
    No doubt Breville are hoping to own this price range while also poaching buyers from below and above.
    Hardly off topic to the OP discussion.
    Very poor moderating!

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    Re: Paying for espresso machinery

    Quote Originally Posted by 476E7C6F6A6565626E0B0 link=1302834907/18#18 date=1302855721
    Hardly off topic to the OP discussion.
    Very poor moderating!
    I think your post just got caught up in the midst of some other off topic discussion...

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    Re: Paying for espresso machinery

    Quote Originally Posted by 09203221242B2B2C20450 link=1302834907/18#18 date=1302855721
    Hardly off topic to the OP discussion.
    Very poor moderating!
    When a discussion deviates completely from the main topic (the machine) to something entirely different (how to pay for a machine), thats what we call off topic Annie.

    It was split because it warranted a split.* >:(

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    Re: Paying for espresso machinery

    Quote Originally Posted by 08574F595259555C5C5F5F575B543A0 link=1302834907/20#20 date=1302859886
    thats what we call off topic Annie.
    In fairness, the post in question (post #2 here in the off-topic branch, and quoted again in post #18) would seem sufficiently on topic IMHO...

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    Re: Paying for espresso machinery

    Quote Originally Posted by 0D524A5C575C5059595A5A525E513F0 link=1302834907/20#20 date=1302859886
    When a discussion deviates completely from the main topic (the machine) to something entirely different (how to pay for a machine), thats what we call off topic Annie.
    Happy to acknowledge however that my post #7 WAS off topic

    Oh...and my names not Annie* 8-)

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    Re: Paying for espresso machinery

    Quote Originally Posted by 3D3834303C37316E590 link=1302834907/17#17 date=1302855651
    P.S. I think were taking an already Off-Topic discussion off-topic Cheesy
    Homer Simpson: *gasp* This man is my exact double! *bigger gasp*! That dog has a puffy tail! Hehehee



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