Ecotech marine payment plan?

If you could pay it off in 6 weeks, just put the money in a jar or leave it in the bank?

You have to keep in mind the economics here in the US, alot of places arent interested in credit and all that drama that comes along with it. Cash in hand is the way alot of places operate.

Setting up a credit department isnt an easy thing. You have to staff it and pay people to run credit checks, balance the books and payments, customer service type stuff. Youll also have a hire a legal team to write the loan contract. You'll have to tie in with credit agencies & credit collectors in case of dead beats. With all of that involved a $500 non payment can turn into several thousand paid out & that simply isnt worth it.

Unless there is a very large demand or a very big business in the big scheme of things it could be a money loser not a money maker.

 

Never mind guess it was a dumb idea, sorry to waste everyone's time. Just thought there might have been some legitamacy in this. I know it would help me out. And why not put money aside... Cuz it would take me over a yr to save for that and my tank could benefit from it now rather then when I scrounge up enough money to get one.

But apparently I have no idea what I'm talking about.

 

What are you talking about? I know the answer to what happens when u don't pay your stuff... I was saying how would it work I this arena... Nvm it went over your head apparently. Forget i said anything I'll just start saving now, and by the time I'm graduated college, I'll have enough.

 

We do not intend to sound mean or disrespectful in any way, this is just a good example of how a band wagon can just get carried away when a bunch of people jump on real quick.

But if you are able to budget well then you can usually open your own credit line (with PayPal for instance) on a purchase and they will offer a 6-12 month period of no interest. So it's like financing it except you are doing it on your own accord.

 

Maybe I'm missing something here but isn't this what a credit card is for?
Note I'm not suggesting to use a CC in this situation but you can buy anything you want on credit with CC anywhere that accepts them.

 

People, I think a lay-a-way plan would be a better solution to thiss problem. That is what a lot of major retailers this holiday season did this year anyways. A lot of equipment in this hobby is really expensive. What is being said is that if a company would allow for a lay-a-way plan, then in the long run they would make more money becuase more people could afford that. It is easier for some people to budget lets $25 a week then pay $500 up front. Not everyone in the world is great with money and some of us just need a little help. That doesn't mean that you cant or are not willing to pay your bills. Some people just manage money differently is all. There is no need to bring a finacing compoany either if you just allow for the consumer to make payments over time, and when the product is apid off simply ship it out.
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What about ppl, like me, who are student with no credit. I've applied for a couple and denied every time. So unless you can talk them into accepting me, I'm s.o.l

 

Thank dingo. It's all good no disrespect taken. I know y'all are trying to discuss every aspect of this.

 

Hey man, I'm 35 years old and can't afford MP40's either. You and I have chosen a hobby that can get real expensive real fast, so there is a certain level of acceptance that comes with it. I have just accepted the fact that koralias will just have to do for now. And if all I needed was an MP40 I could save up over a period of time, but then there is buying corals and fish, and skimmers etc. If I stop purchasing anything else for my tank and make the MP40 top priority, it can happen. Just might take longer than what I want.

 

The only intent was to introduce a method of buying these pumps more economically. I mean I know some of y'all on here are well off financially... I know I see your tanks, your house, your other toys... I get it.,prolly have great credit scores, what have you. But that's not everyone, some of us live paycheck to paycheck. I live off financial aid given to me by the state. I can't juggle a full time job and being a full time student. It's too hard on me, I'd rather goto school full time and have it pay off later. But I guess that's why I'm a student... Still learning the ropes on economics. I have a strong background on such, but I took that class waaaaaay back in high school.

On a side note. 500 dollars... For plastic and some metal. I just do not understand why so much? Design is one of a kind but how much does it reeeeeeeally take to make one.. Materials, labor, etc. be interesting to see how much that is. Vs what y'all are paying for it at retail. I bet that price could be a little lower and they still have a strong profit margin. But I guess if I owned them I would want to charge as much as I could so I could roll in a new Bentley too. Lol. Just blows my mind that there's a pump, that all It does is move water around, and it's 500 dollars. It's a cool pump but 500 dollars cool? You be the judge. My luck it would break as soon as I opened it. Lol