Got a text from MTF this morning asking if I'd like to offer finance on my listing. Has anyone had experience with this? Actually helped a sale?
mrcat1,
Jun 29, 11:02pm
Yes, I have done that on a listing, bit hard to say whether it helped but some people don't have the cash to buy cars etc outright, and because of that would only deal with a dealer so they can get finance, if you offer finance thru MTF, I cant see it as a bad thing, possibly may help a sale go thru, but of course the purchaser would have to meet their terms and conditions.
sw20,
Jun 29, 11:04pm
Would you get the finance kickback like the dealers do? It's usually a few hundred bucks.
noswalg,
Jun 29, 11:57pm
Id be more concerned about how MTF got your number, are they trawling listings on TM now or are they being supplied information. I agree with the fee for adding the finance option to your listing, why should they benefit from advertising you've paid for?
noswalg,
Jun 30, 12:01am
Finance is finance, does'nt matter who the seller is.
kazbanz,
Jun 30, 12:11am
yea but nahh-with the new finance laws you have to be really carefull how you phrase the finance available stuff.
tamarillo,
Jun 30, 12:13am
That is a good idea I reckon.
mrcat1,
Jun 30, 12:30am
Well considering the OP has a listing on here with his cell number, what do you reckon? It can work both ways, free advertising for MTF or maybe a easier sell for the OP.
wsnownz,
Jun 30, 12:47am
Yeah I think they must be trawling listings. It's the Blenheim branch of MTF as well so targeting locals I guess. Never done it in the past so I think I'll give it a miss.
mrcat1,
Jun 30, 12:54am
Why give it a miss? wont cost you anything and may help you sell it.
elect70,
Jun 30, 1:54am
I used to do it when I was in business , sold & installed heat pumps , the 'kick back "from finance co was added proffit on the job . sometimes offering finance gave the edge on whether got the job or not as every sparky was flogging them .
tony9,
Jun 30, 2:32am
What happens if the deal goes bad and money is still owing after vehicle is repossessed and sold?
sw20,
Jun 30, 3:04am
Who cares? The vendor has their money and then some, the contract is with the finance company and the buyer.
noswalg,
Jun 30, 4:15am
What I'm getting at is anyone can at anytime contact MTF for vehicle finance, it doesn't have to be done through a dealer. I think it's a bit cheeky of them to be cold calling asking for free advertising, if I had a listing that I allowed them to advertise on would they be referring all their other finance applicants they get to that listing, I don't think so!
noswalg,
Jun 30, 4:21am
I thought you just had to be very thorough when going through the application process, or have they cracked down on all the advertising for bad credit, learner license ok type targeting? None this would apply to private sellers though would it?
mrcat1,
Jun 30, 8:17am
Not every one knows that, a lot of people don't realise that and to me it is a better selling point, I have done it when I had a boat for sale and would do it again. Cold calling is a part of business, I have done it and will continue to do it if I see a opportunity for work, doesn't cost anything and sometimes people appreciate the effort.
captaink,
Apr 9, 3:02am
Motor Trade Finance a wholly, 'Dealer Owned Finance Company' with the supplier of the finance, previously 'The Dealer' taking full recourse on the vehicle they sold. Now they have area agents that canvass for all and any business. How marginal a deal they can do depends on their own rating with MTF and as they grow their business they have to purchase more shares in MTF. In other words the less the risk they are to MTF the more marginal deals they can do. Ironic that a company set up by dealers to assist and ultimately benefit dealers now is happy to finance any deal anywhere. All that aside, if they are offering you the facility, they will be taking the risk/recourse(providing the purchaser meets their initial criteri )you can bank their cheque and have no worries post sale
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