Terms & slow pay

[Iron Duck Designs]

just had to get rid of another dealer because of slow pay...60 days seems too long to wait to get paid. Is anyone else fed up with terms? They have to pay their credit card monthly, why not me? Not really upset about it, but just had enough of the slow payers. I feel like I might lose more business this way, but if they don't pay then I just wasted a lot of time and resources for nothing. Also, I really feel like me "supporting" their business by letting them ride on my money isn't something I want to do anymore. /venting

[vquestfilms.com]

just had to get rid of another dealer because of slow pay...60 days seems too long to wait to get paid. Is anyone else fed up with terms? They have to pay their credit card monthly, why not me? Not really upset about it, but just had enough of the slow payers. I feel like I might lose more business this way, but if they don't pay then I just wasted a lot of time and resources for nothing. Also, I really feel like me "supporting" their business by letting them ride on my money isn't something I want to do anymore. /venting

You have to do what you have to do, it's business. If you were a bank then it would be understandable but you are not a bank so why should you be treated like one?

[TomTint]

We do 95% commercial FG. Most of the time we get paid between 60-90 days. We have a few regulars that pay 30-45 and some that are 15 days. I take the good with the bad, I have one contractor that is into me for 18k and it is 100 days old. I know I will get paid, but not till he does. When it finally shows up it will almost feel like found money.

[gosurfing85]

Give them 30 days and maybe a 15 day leeway then after that start charging a late fee per week check isnt issued. Put that in the small print on their invoice.

[coast2coasttinting]

I will normally put all car dealerships on a 30 day account. The dealers are usually pretty good to pay the problem that I always run into is when I give the salesman the receipt he doesn't always turn it in. I have pretty well learn who will and won't turn in the invoices, so if I do a job for a salesman that I know won't turn in the invoice I just take it to the Accounts Payable person myself.

The worst able to pay for me are used car dealers I normally will not give them 30 days. I make them pay upon completing the job.

[DynamicSound]

This is why we do not do dealership work through the dealership. We have it setup where 5 dealers where they just send us the customers directly, so we deal with them and charge them. Then we take care of the dealer by giving them a discounted rate for their personal vehicles. It is less headache for us and them plus we get full pop for the jobs.

[kats2112]

Dealers suck. Want it yesterday. Pay in a month or two. I had a couple that did over 10k / month. At least they were steady.

[lostinbama]

I'm dealing with this now. Pain in the azz...

[opus]

I've got one now that's into me for over 2k and the oldest invoice is from April of this year. I know that's not a lot but they are cut off until all is caught up! An I'm not the only one they do this to. Damn near everyone else in town has stopped doing business with them of any kind.

Once they've satisfied the bill they have two choices 1. Payment upon services rendered. Or option 2. 30 day net with a floating scale of percentage on penalty. 1-15 days late 3% added, 16-30 days late 10% added, anything after that and they get cut forever!

I'm to small to have cash out that long. They'd have already turned me into a collections agency by now if the shoe was on the other foot!

[Iron Duck Designs]

I agree, I am just going to give our local cities 30 day net and one dealer, the rest are just going to have to pay per job or if they want 30 day net give me a cc to keep on file and when they are late I'll run it.