How did you pay for your kit?
Discussion
The last kit I bought from the manufacturer I had to pay half at the time of the order, and, if I remember correctly, the other half some time (was it a weeks, something like that) before the collection date. Fortunately most of it was ready when I went to collect it.
I understand that these days the norm is to pay a 10%? deposit and the rest when collecting. That seems a much better system, although from what one hears it sometimes goes wrong, and customers are owed money for items that arrive late or don't arrive at all.
I would be interested to hear of anyone's experiences in this matter, especially if it worked out well.
I understand that these days the norm is to pay a 10%? deposit and the rest when collecting. That seems a much better system, although from what one hears it sometimes goes wrong, and customers are owed money for items that arrive late or don't arrive at all.
I would be interested to hear of anyone's experiences in this matter, especially if it worked out well.
Edited by singlecoil on Friday 18th December 14:17
jason61c said:
what kit are you thinking of buying?
Not buying, selling. I want to find out what the various kit manufacturers do about payment and whether any one system works better than another. I now I can contact the manufacturers themselves, but I want to find out the customers' experiences from their point of view.spdpug98 said:
I paid for my kit (full kit) in 3 installments, 1st on order, 2nd after 6 weeks and the final one on collection
Was that equal thirds, may I ask?The Black Flash said:
Ditto - deposit on order, first payment when they started building it, balance on collection.
Same question, equal thirds? And I presume that was Dax?The problem is that there are issues from both perspectives. The builder (manufacturer) knows that the buyer is serious when the money starts coming his way (deposit); sort of cash, it’s all just chatter. However, during the build, the manufacturer has to outlay the costs of materials, so an intermediate payment, which should be linked to progress doesn’t seem unreasonable. With the final payment, the customer collects the car or kit in which everything should be there or completed as agreed upon. At this point if the customer flakes, the manufacturer can still move the car as a last resort to recoup his labor costs, and the buyer can use what he owes as leverage to get the package completed.
This is exactly how my house was done. Of course, it on a bigger scale, but the principle is that same. Another consideration for buyer is that the history of the kitcar business is rife with manufacturers that have taken people’s money, or folded, and not delivered. By breaking up the payments according to the progress, the risk is lowered a bit i.e. the customer could collect what’s left and then finish it themselves or have someone else complete the work -- it’s not desirable of course, but beats getting nothing if something should go terribly wrong.
1) Deposit
2) Intermediate payment (or 2) according to progress
3) Finale payment at collection
This is exactly how my house was done. Of course, it on a bigger scale, but the principle is that same. Another consideration for buyer is that the history of the kitcar business is rife with manufacturers that have taken people’s money, or folded, and not delivered. By breaking up the payments according to the progress, the risk is lowered a bit i.e. the customer could collect what’s left and then finish it themselves or have someone else complete the work -- it’s not desirable of course, but beats getting nothing if something should go terribly wrong.
1) Deposit
2) Intermediate payment (or 2) according to progress
3) Finale payment at collection
singlecoil said:
The last kit I bought from the manufacturer I had to pay half at the time of the order, and, if I remember correctly, the other half some time (was it a weeks, something like that) before the collection date. Fortunately most of it was ready when I went to collect it.
I understand that these days the norm is to pay a 10%? deposit and the rest when collecting. That seems a much better system, although from what one hears it sometimes goes wrong, and customers are owed money for items that arrive late or don't arrive at all.
I would be interested to hear of anyone's experiences in this matter, especially if it worked out well.
Are you referring to kits of parts, or built up cars?I understand that these days the norm is to pay a 10%? deposit and the rest when collecting. That seems a much better system, although from what one hears it sometimes goes wrong, and customers are owed money for items that arrive late or don't arrive at all.
I would be interested to hear of anyone's experiences in this matter, especially if it worked out well.
I paid 10% with order, rest on collection for a box of bits, which seems fair all round.
However, if you are talking about a built up car, then staged payments would seem more appropriate.
I bought mine in stages. Starter pack including chassis, suspension, body panels etc, then steering pack, brake pack, cooling system pack, fuel system pack etc, as I need them. All payment in full with order, but because you're buying it in bits it's not too traumatic for the wallet.
Advantages: spreads the cost, reduces storage space required.
Disadvantages: inflation, risk of manufacturer going under.
Bill Bob
Advantages: spreads the cost, reduces storage space required.
Disadvantages: inflation, risk of manufacturer going under.
Bill Bob
Edited by bill bob on Saturday 19th December 22:01
For the Ultima I payed a deposit and then the balance upon delivery, however I purchased it in stages ie chasis etc, body etc.... that helped spread the cost and I only paid a deposit for each stage.
With the next kit (if you can call it that) I paid a 20% deposit and the balance on collection. I did the same for the MK Indy.
With the next kit (if you can call it that) I paid a 20% deposit and the balance on collection. I did the same for the MK Indy.
I paid a deposit (10%), collected most of the kit and paid the balance.
Some stuff didn't show and then proved impossible to get.
I fitted a new boiler in the factory. Worked in the factory for half a day on other cars when I went to take my car for SVA. Went down the pub and bought a round. Made tea and coffee. Had a few aftermarket bits for the car. Gave up with the company choice of seats, so went elsewhere. Struggled for months to get an overpayment back from the company (which had changed hands by then.)
Pretty normal kit purchase, no?
Some stuff didn't show and then proved impossible to get.
I fitted a new boiler in the factory. Worked in the factory for half a day on other cars when I went to take my car for SVA. Went down the pub and bought a round. Made tea and coffee. Had a few aftermarket bits for the car. Gave up with the company choice of seats, so went elsewhere. Struggled for months to get an overpayment back from the company (which had changed hands by then.)
Pretty normal kit purchase, no?
singlecoil said:
The Black Flash said:
Ditto - deposit on order, first payment when they started building it, balance on collection.
Same question, equal thirds? And I presume that was Dax?I don't think that having a full third as a the initial deposit would be a great idea.
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