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  #1   IP: 86.165.6.25
Old 19-12-2011, 06:51 PM
DNgroundworks DNgroundworks is offline
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Default Plant Finance

Hi Fellas,

First proper post so here goes, in the spring next year im considering purchasing a new/nearly new 1.5t digger, part deposit part finance.

My question is, what happens say 2 years down the line into a three year deal and your possibly in a situation where you have no work and your faced with maybe having to sell the machine.

Is it the same as vehicle finance where you cant sell until you clear the balance or do people just sell plant and then clear the finance without telling the buyer what is going on?

Im not planning on this happening, been busy all year, but you never know whats round the corner!

Im just thinking that with cars people can HPI check a vehicle, is there a similar system for plant?

Regards Daniel -

Last edited by DNgroundworks; 19-12-2011 at 06:52 PM. Reason: spelling
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  #2   IP: 86.172.212.17
Old 19-12-2011, 06:57 PM
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d4c24a d4c24a is offline
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Default Re: Plant Finance

TER do plant checks http://www.ter-europe.org/

with the finance i would guess it would need to be paid first
but i know some dealers will settle finance when purchasing a machine
i am sure something could be worked out with a private seller too

cheers graham
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Old 19-12-2011, 07:07 PM
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Default Re: Plant Finance

Quote:
Originally Posted by DNgroundworks View Post

............. do people just sell plant and then clear the finance without telling the buyer what is going on?

Im just thinking that with cars people can HPI check a vehicle, is there a similar system for plant?
I think it will depend a lot on where you get your finance.

There is nothing similar to HPI that I am aware of, it really is a case of buyer beware, which is ok if your a legit seller but you could easy be the buyer from a dodgy seller a few years down the line

Personally I had a ruddy nightmare earlier this year as so many things have changed within the finance industry since I last changed a machine.

ON EDIT

Graham is quite right, I forgot about TER.
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Last edited by AtlasRob; 19-12-2011 at 07:12 PM. Reason: add a bit
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  #4   IP: 86.165.6.25
Old 19-12-2011, 07:26 PM
DNgroundworks DNgroundworks is offline
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Default Re: Plant Finance

Thanks for that lads,

Ive had trouble in the past because when changing vehicles, im not one for trading my old one in, id rather sell private, but its an ordeal, pay off existing finance, pay deposit on new pickup, sell old van, re-coup money.

What sort of interest rate would be acceptable in the current climate, im thinking its gonna be arounf 8%?

Its not a definate yet, i was just looking through this years accounts and the amount ive paid in hire for 1.5 and 2.5 tonners, it would cover the costs of a newish machine for myself.

I like the u series 1.7 ton kubota, would have to be a cab though, spent last winter on a cabless one, 2 months of getting shot blasted by snow and hail is enough to sway my decision
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Old 19-12-2011, 07:29 PM
bob bob is offline
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Default Re: Plant Finance

About 15 years ago I bought a hanix digger when I went to buy some parts for it from ces at norwich they asked for serial no and come back and said your machine not reported stolen or any hp on it but I think he said up 25% have some sort of problem with them.
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Old 19-12-2011, 08:48 PM
strott strott is offline
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Default Re: Plant Finance

Quote:
Originally Posted by DNgroundworks View Post
Thanks for that lads,

I like the u series 1.7 ton kubota, would have to be a cab though, spent last winter on a cabless one, 2 months of getting shot blasted by snow and hail is enough to sway my decision
Yep a couple of winters on a canopy machine was enough for me to change to a cab machine!!

I have done over 1800 hours on my 1.5 ton Kubota in the last 3 years - cab has made them a lot more comfortable and no doubt me a lot more productive.

Think if you want a u series machine with a cab you will need to get the U22-3
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Old 19-12-2011, 08:57 PM
DNgroundworks DNgroundworks is offline
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Default Re: Plant Finance

Hi Strott, i cant find the U22-3 on the kubota website, Just noticed that they dont do a u17-3 with a cab, next one up is u20-3. Or am i looking at the wrong bit....

There where two of us working two u17-3 machines up at lancaster uni last winter, replacing the paving on a "town" square which was also a bridge deck, with a road underneath took us months to move 1000's of tonnes of spoil, excavated material into an ausa dumper, tipped into a forklift tipping skip lifted through the bridge deck from below, then tipped in to a 9 tonne dumper, carted a mile round a one way system to the compound, was very slow tedious work! beats a poke in the eye at this time of year though!
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Old 19-12-2011, 09:18 PM
treble99 treble99 is offline
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Default Re: Plant Finance

when you come to sell it if the new owner finances it to buy it off you it will come up as on finance so it cant be done twice you will need to clear it or get his new finance company to do it i have sold machines that have had a couple of months to run i have also bought machines in the past from main dealers who also hire them out, sold them to me when they are still on finance........
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Old 19-12-2011, 09:23 PM
DNgroundworks DNgroundworks is offline
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Default Re: Plant Finance

I sold a car once that had 12 months left on drip, i was 18 and oblivious to the terms i was under, i sold it, took the cash, banked it then rang the finance company and cleared the remainder. The finance company and the lad that bought it were none the wiser! But.....i didnt realise i was doing anything wrong!

I am just thinking hypothetically in regards to the digger, a what if situation.
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Old 19-12-2011, 09:38 PM
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Default Re: Plant Finance

Dan, i thinkyou are thinking the wrong way, if you are considering not being able to afford it then thats bad news. You may be worth putting a little extra in to the pot each month to cover quiet months. Less risk and on a 300 per month payment, an extra 50 a month on top Will cover your payments for two months every twelve.
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