Stocking Plans? Who recommends ?

[jamslug 91]

Afternoon all, 

I currently do not use a stocking plan but have been thinking about it more and more lately. Does anyone else use them? If so which ones are the best. Are there any to stay away from?

I just want a little guidance. 

 

Thanks, 

James 

[Phil H 124]

I've got a stocking plan but rarely use it, BCA offer one with quite cheap fees £35 admin fee, 27p per thousand per day interest, £25 admin fee after 60 days, full balance repayable after 120 days but you can only buy on it from them which does limit you buying options and force you to pay their prices. Nextgear capital who are owned by manheim do one which lets you buy from anywhere but the initial fee is £65 if it's bought from an auction or £85 if bought from elsewhere. After, I think, 45 days you have to repay 25% of the capital and another fee, not to sure on the rest of the fees and interest. Finance companies offer them based on your finance volume and stock can be bought from anywhere and if you give them enough business you don't pay any fees or interest. I've found the cheapest and more flexible one is an overdraft from the bank, some good deals out there I was offered one with hsbc, a 30k unsecured overdraft for £300 per month if you use it all. 

[sparky 274]

There is also a monthly audit fee with Next Gear if you have something on with them.

 

[Rory RSC 596]

I use nextgear. We turn our stock quickly and it works for us. 

 

[DanNextGear 4]

I've got a stocking plan but rarely use it, BCA offer one with quite cheap fees £35 admin fee, 27p per thousand per day interest, £25 admin fee after 60 days, full balance repayable after 120 days but you can only buy on it from them which does limit you buying options and force you to pay their prices. Nextgear capital who are owned by manheim do one which lets you buy from anywhere but the initial fee is £65 if it's bought from an auction or £85 if bought from elsewhere. After, I think, 45 days you have to repay 25% of the capital and another fee, not to sure on the rest of the fees and interest. Finance companies offer them based on your finance volume and stock can be bought from anywhere and if you give them enough business you don't pay any fees or interest. I've found the cheapest and more flexible one is an overdraft from the bank, some good deals out there I was offered one with hsbc, a 30k unsecured overdraft for £300 per month if you use it all. 

Phil, 

Just thought I'd chip in - it's 7.5% write down at day 45 and the loading fee is £45 at the moment. 

If anyone is interested just message me and I'll get in touch (admin not sure if I can say this on here so feel free to edit the last bit if breaking any rules) 

[Rich@BCA P.F 0]

On 26/10/2015 at 1:09 PM, jamslug said:

Afternoon all, 

I currently do not use a stocking plan but have been thinking about it more and more lately. Does anyone else use them? If so which ones are the best. Are there any to stay away from?

I just want a little guidance. 

 

Thanks, 

James 

Hi James,.

Did you get a stocking plan sorted? I work for BCA so can help to see if its right for you or not? I mentioned in a post earlier that using a few suppliers can sometime mean you get all the best bits. The core point is making sure whatever supplier you choose- it adds value to your business.