[jasonl]

Therefore  if there are assets eg house, then these can be used to pay the debts

[chosker]

I used to work for Ford Finance.
If a car is not fully paid for and someone dies / is ill / loses their job etc then the finance company do not have a write to chase the debt from anyone else HOWEVER they are legally entitled to take back THE CAR. Not the money.

So if I died and had 3 months outstanding, the company would be entitled to retake my car (even though i've paid 33 of the 36 installments). The family could then pay the remaining 3 installments and keep the car if they wanted to.

This was the case 5/6 years ago and I would have thought it would be the same now...

[Mike Halliday]

so he bought this on finance just under 2yrs ago if he bought it over 5 years , say 25k cost plus interest of 7k so at the start he owed 32k he been making payment for 22months then I would guess he still owes nearly the full cost of the unit.

what would you say the value of the it is now £15k? its a hard sell

[Andrew Briscoe]

Mike, according to the link, Alltech have bids upto £22.5k + vat

Andrew

[Joe H]

According to the link Mike, the unit new today would be worth 45k+vat
and the machine has 166 hours and the van just over 6000 miles.
Must be worth a lot more then 15k, dont you think?

[Matt Lindus]

so he bought this on finance just under 2yrs ago if he bought it over 5 years , say 25k cost plus interest of 7k so at the start he owed 32k he been making payment for 22months then I would guess he still owes nearly the full cost of the unit.

what would you say the value of the it is now £15k? its a hard sell

From Altec web.....

"The cost the replace this van NEW would be £15,000.00 the machine £22,000, then you have the sub-mount, LPG, Hose Reel, Water Softener, Lining, Sign Writing etc… this would come to almost £45,000.00 + VAT."

Mike Halliday says the lot is now worth £15K two years down the line.

That Van and Truck Mount has lost a staggering £30000 in two years!!

Its dropping £1250 Per calendar month in depreciation not to mention the interest! I need a drink and a sit down, he was in the s**t from the outset, poor guy.

Matt


 

[Joe H]

but alltec already have bids of £22.5k+vat so the figures arent quiet right.

[derek west]

according to alltec they have all ready got 4 people interested at 22k. if what they say is true then it should go for around 24k, so its not as bad as you trhink. still bad though.
i paid 22k plus vat for my original set up from new, i would guess i could sell for around 16k? ish, so i'm devaluing at around £600 a month but that slows down from now onwards. its the first year that takes the big depreesh.

derek

[Mike Halliday]

I must have missed the link

but how can you add the value of sign writting :

still think its worth £15k

[Matt Lindus]

according to alltec they have all ready got 4 people interested at 22k. if what they say is true then it should go for around 24k, so its not as bad as you trhink. still bad though.
i paid 22k plus vat for my original set up from new, i would guess i could sell for around 16k? ish, so i'm devaluing at around £600 a month but that slows down from now onwards. its the first year that takes the big depreesh.

derek

Here's an Idea, get rid, work twice as hard with a portible and pocket the £600 per month.

Matt

[Mike Halliday]

but did this link & pricing  come from alltec...... yea they say I can make min of £200 a job and play golf all day

[Joe H]

that does'nt work for me either Mike...... I can't play golf 

[Paul_Ashworth]

Mike,
Dave Lee will be able to get give you a good idea of what they are new as he bought one around the same time, The 45k figure the come up with probably doesnt take into any account of what discount he had.

Paul

[robert meldrum]

As there are a fair number of add ons Mikes value of £15k might not be as for out as you might suspect but as a package I would reckon it could easily be worth around £24k ish.

Remember depreciation is on the capital goods not the embellishments

[Joe H]

I might be wrong but is'nt that tm somewhat the same or very similar to the Hydramaster Titan like Simon Gerrard has, and didnt Simons cost him around 45k with the new van?

If you read back on Mikes posts he put a price of 25k new, which is way off what I would expect for van+machine of that size. Its a big un - 68hp, puts my 15hp Prowler in the shade.

[derek west]

according to alltec they have all ready got 4 people interested at 22k. if what they say is true then it should go for around 24k, so its not as bad as you trhink. still bad though.
i paid 22k plus vat for my original set up from new, i would guess i could sell for around 16k? ish, so i'm devaluing at around £600 a month but that slows down from now onwards. its the first year that takes the big depreesh.

derek

Here's an Idea, get rid, work twice as hard with a portible and pocket the £600 per month.

Matt

or work twice as hard with a truckmount and pocket the £600 a month and make even more on top.
always thinking
derek

[PaulKing]

Its a really nice piece of kit, and for sale under very sad circumstances, please let us all just all remember that before we pick apart anything, Try and think how your family would feel reading this if you died.

I'm quite willing to declare myself interesed, lets all  try and do the best by the family as I'm sure we all want too.

[Nigel_W]

Well said Paul.

I have seen the van and TM last week when I had a trip to Alltec and it is as described. In the circumstances the best we can do is circulate the information as widely as possible to help to achieve a reasonable sale value. As far as I understand Alltec have taken responsibility for the sale to help out the guys family. Using this board to snipe at Alltec and devalue this package is pretty low. I am sure someone will be very happy to purchase this ready to go vehicle for a price of 20k++. I for one can confirm that the Thermalwave is an excellent machine and this machine looks as good as new.

Nigel

[derek west]

Well said Paul.

I have seen the van and TM last week when I had a trip to Alltec and it is as described. In the circumstances the best we can do is circulate the information as widely as possible to help to achieve a reasonable sale value. As far as I understand Alltec have taken responsibility for the sale to help out the guys family. Using this board to snipe at Alltec and devalue this package is pretty low. I am sure someone will be very happy to purchase this ready to go vehicle for a price of 20k++. I for one can confirm that the Thermalwave is an excellent machine and this machine looks as good as new.

Nigel

that is why i put it on here.

derek

[Dave_Lee]

Identical set up to mine, except that Lincolns includes a water softener. The list price at the time was not far off £60,000. we were both ex Fast track members and long term customers of Alltec, so with their very generous discounts actually paid in the region of £46,000.
I think Lincoln may have purchased his by lease.
I have leased a few pieces of equipment in the past. The thing I dont like about leasing is that if something happens, like becoming sick, losing business or indeed what happened to Lincoln, the equipment can be reposessed if you fall behind with payments. Its doesnt end there though, because as well as losing the equipment you are still liable for the full payments due in the contract up to the date of termination. This could mean your dependants having to sell your home to settle any debts due from your estate.
Dave.