Payment Plans

[paulk68]

i was wondering if any of you builders offer monthly payment plans for people to get there body work done? if you do let me know how you go about it
thanks

[hotrdblder]

are you meaning to finish the job and let the customer take the car and pay monthly, or set a deadline of a certain amount of time and let the customer pay even payments every month?

[paulk68]

are you meaning to finish the job and let the customer take the car and pay monthly, or set a deadline of a certain amount of time and let the customer pay even payments every month?

I guess i am saying set a deadline and certain amount and then let the customer make monthly payments. if that is the case what is a typical length of time? because i would think it would be crazy to do the car then let the customer pay

[hotrdblder]

really depends, i can turn paint around in 30-45 days, depending on rust work, but paint jobs start at 8-10k and go up, so it would depend on the customer.
i hate to have stuff longer the 4-6 months, generally i would want 30-40% up front then payments from there

[Duesey2]

I doubt you'll find a shop interested in that type of payement unless they aren't very busy. I would cringe if someone approached me in that fashion. I've been stung before and tell people if you don't have the money then find someone else as I don't need the headache. I have a camaro that has been around here for two years because the customer is not a good pay. Unfortunetly I like the guy and keep helping him but it's an aggravation when normally people are excited for progress, want the car done, and pay on time. Thats a perfect customer for me.

[KWIKND]

On the other hand you do not want to pay ahead of work getting done either. Have the body man make a detailed list of items that need to be done and a fixed price for each item and then pay immediately when that item is done.
I had a "payment plan" with a guy and got hosed on quality and completion time. What was supposed to take 6-9 mos. took over 4 years.
Don't believe magazine articles, awards, when it comes to a shop's level of quality. Look carefully at work he has already done.
It will turn something that is supposed to be enjoyable into one of the worst experiences.
Dan

[Duesey2]

Realistically what is gonna change in a few months though. If you don't have the cash now then you probably won't have it later. Payments are half the problem with this economy. This dinglberry with the camaro is in so much debt that I wouldn't have taken on the job if I knew. It would be nice to do credit checks on customers to save yourself a headache. He owed me some money for two months and basically I told him that his car that is about 98% done is gonna sit out in my yard if can't get paid. I was paid within the week. Honestly I could care less about the car at this point. Slap it together and move on to a good customer. So it's not always the shops fault when quality can slide.

[Vegas69]

Not everyone is on a set pay scale. Anybody that is commisioned could have plenty of money 2 months from now. Now if you have a set salary and leveraged up to you ears then you are absolutely right.

[rjsjea]

Why not pay as you go? Pay 40hrs at a time or so, check on progress and pay up for another 40hrs or however many hours you guys set.

Easier to keep track of progress and your budget.

[hotrdblder]

payment plan is good for everyone, as long as he has deposit up front to cover materials, and really is good for a shop with multiple projects, each one gets some love each month, and you pay that.