Does anyone finance water features?

Discussion in 'Water Features' started by FNCPonds, Apr 27, 2008.

  1. Toker

    Toker LawnSite Member
    Messages: 45

    What kinda fees they charge back to us I wonder? Nice idea at that - I've never thought of doing things that way but have had some ask over years. Might have even lost jobs not taking it (plastic).

    I haven't seen to many of the offers lately showing up at home, least not compared to last year. Maybe I just toss them w/o a look. Knowing the CC's they still throwing credit around like the wind - bad economy or not. WTH - they lose 5-8% it's not a big deal. They just jack up things to the rest of us.

    Thanks for the idea - might need to start checking around
  2. genesgreen

    genesgreen LawnSite Member
    Messages: 39

    I've had a lot of clients ask this same question and they haven't had any luck finding traditional loans. The closest you can get is a home equity line of credit if you own the house and want to tap the equity.
  3. Varsity L&G

    Varsity L&G LawnSite Senior Member
    Messages: 418

    Our credit card machine charges 1.7 on a swipe and 3.6 on a manual key, card not present transaction.
  4. Venturewest

    Venturewest LawnSite Senior Member
    Messages: 516

    Do you pay any other monthly or one time fees for your equimpment, etc?
  5. FNCPonds

    FNCPonds LawnSite Member
    Messages: 46

    I bought my wireless CC machine for $650 plus $24 dollars a month for wirless services just like a cell phone. It has come in very handy and lots of people would rather pay by card.
  6. mdvaden

    mdvaden LawnSite Bronze Member
    Messages: 1,946

    Hey Jim...

    You use VISA for customers don't you? I figured that you probaby know the ins and outs of this kind of stuff.

    I was curious, if someone was low risk enough for a financed water feature, wouldn't they be low risk enough to qualify for VISA, and just run the bill through that route?
  7. Varsity L&G

    Varsity L&G LawnSite Senior Member
    Messages: 418

    No the company we go through charges us up to $25 per month minus the 1.7%. If we reach $25 in fee's it cost us nothing but the 1.7% per transaction. So the Min per month would be $25.

    No equipment rental or contract. We bought our first machine for $300 and bought the second one for $75 both used.

    You have to go to the source to get the best rates. We use BankCard USA
  8. JimLewis

    JimLewis LawnSite Fanatic
    Messages: 6,876

    Yah, I have a credit card processing account. I don't let people charge large jobs though. We only take credit cards for small stuff (e.g. under $1000). You lose too much through the fees and it always takes a few days till the money lands in your account. I just like checks. I get paid as soon as the job is done and money is in the bank that day, if I want.

    To answer your question about them just using the Visa instead of a line of credit, I guess it depends on your credit limit on your card, what interest rate you are paying, and how much available credit you have left. And just because you a place like John Deere Finance or GE Capital will give you a $10K or $20K loan for a home improvement project, doesn't necessarily mean you can qualify for a Visa with the same limit.

    Regardless, I hate it when people ask this kind of stuff. I pretty much just do work for people who already have money in the bank account. I lost a $25K job the other day because the guy didn't have the cash and wanted a company who could finance the job. He wanted a bid from us and had been impressed with work we had done for others but he already had a bid from a guy who used some sort of financing. I told him if he didn't have the dough, just go with that guy. I didn't even finish the bid. It's easier just to not deal with this stuff, IMO.
  9. kaferhaus

    kaferhaus LawnSite Bronze Member
    Messages: 1,444

    I realize it's an old post.... we just have the customer get a home improvement or equity loan.

    We don't touch anything without a 50% deposit though. Been taking credit cards for about 10yrs but really prefer not to take them for anything over a few hundred dollars unless it means losing the sale....

    Frankly most of the people that can afford this work have no problems just writing out a check....

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