[Jason Hedges]

If I had the money and needed a bigger truckmount I'd definately be interested. Its a top end machine with all the bells and whistles, nice van and all barely run in...

For just over £20k its very fairly priced.

Alltec have done and are still doing what they can to help his faimily. Initially sending out an email shot asking for donations for his family in their hour of need and secondly handling the sale of his equipment. Hats off to them I say!

All the best,
Jason.

[derek west]

quick update just in case anyones thinking about it................

Dear Derek

Thank you very much for your interest shown in the sale of Lincoln Harris's van and truck mount. 

I'm sending you a quick update. And some answers to a few questions I've had.

Currently as of 11am Thursday 8th October 2009 the highest bid for the van stands at £25,000 + VAT.

If you would like to make a higher bid ... OR reconfirm your bid PLEASE EMAIL BY FRIDAY MORNING 9th October 2009.

The bids are subject to the bidder being able pay the amount of money or be financed quickly!


As you maybe aware Lincoln Harris sadly died this summer after a fight with Cancer.  Unfortunately he didn't have insurance on the company Lease Rental Agreement with Lombard.

Unlike personal finance on a car any short fall from sale of the van will mean the outstanding debt will be charged to Lincolns 'Estate'.

The van sale will be agreed with Lombard ... As they will have title of the van and equipment.

I'm helping the family (with NO FEE) to get the best price for the van ... So 100% of what you pay will go to pay off the debt which is currently over £35k. While staying to you at £26,000 + vat this is a great deal!!!

[robert meldrum]

Just come on to give the same update

[Karen Waterworth]

I have asked the Question on Wiki Who is responsible for a car lease if the lease holder dies?
I think this is the same for a van lease someone needs to help these children if the lease company are asking for the full amount outstanding
They might not need to pay anything just let the lease company take it back

Answer 1
I'm not an attorney, but will try to get this answer started.
I think, YES. I think that the ESTATE OF THE DECEASED LESSEE [spelling?] is responsible. During the Probate process, the EXECUTOR or ADMINISTRATOR of an estate is supposed to pay the just debts of the deceased/estate.
If there are no assets in the estate, then I suspect that a debtor [in this case, the LESSOR]is stuck "holding an empty bag."
Somebody who knows more than I, jump in on this one. Just about any law school student ought to know the answer to this one.
Answer 2
The vehicle will be returned to the leasing agency and the leasor will need to file a claim against the estate for any deficiency in the contract. This type of claim is considered a "low priority" claim.
Family members are NOT responsible for the lease, or any debts of the deceased unless they are a joint debtor, or in some situations there is a surviving spouse and the couple resided in a community property state at the time of death.

[derek west]

i'm pretty sure alltec no all the ins and outs of the law when it comes to this, and obviously theyve decided the best option is to sell providing they get the amount to cover the debt, no one knows how much deposit lincoln put down or how much is out standing so pointless commenting, the idea of the thread is to give awareness to get the best possible price for lincolns family. i'm sure alltec are acting in the best interest for his family so lets just get the word out that this system is excellent and open to offers till tomorrow.
derek

[Joe H]

The last post you did quoting Alltec - it says the debt is over £35k, so some way to go yet if best offer stands at £25k+VAT.
Lets hop somone else finds the money before mid-tomorrow afternoon

[derek west]

maybe thats just a sales gimmick joe, come on this is alltec. but at the end of the day, they wouldn't try and sell it for less than the debt if giving it back would cover the debt. i trust they are doing whats best.
derek

[Joe H]

Are you going for it Derek?

[derek west]

a year and half ago or in 2 years time, i would of snatched there hand. bargain even at 30k
derek

[Glynn]

As I see it, Alltec should be dealing with this package Out side of their company ( as a private sale ) therefore they would be able to sell without VAT. This alone would save £4500.00 should the sale reach £30000.00
This would make it much more affordable to non VAT registered buyers, if I was buying it it wouldn't matter as I could reclaim the VAT.

[HQCS (John Kastrian)]

"The van sale will be agreed with Lombard ... As they will have title of the van and equipment."
With regards to the VAT-As I see it Alltec are only acting as a third party to try and advertise and secure the best price possible in order to pay off as much of the debt to Lombard as possible.
Perhaps Lombard may have the compassion to write off any remaining shortfall after the van is sold.
Alltec have already stated they are acting without any fees so fair play to them.
Alltec cannot legally sell the van directly as they don't own it,the finance company does,this explains why the vat cannot be avoided.
Either way if the van was simply reposessed and sent to auction it would probably make a much greater  financial loss.
It is in everyones interest to get the best price possible.
John

[Simon Gerrard]

Dave,

You paid £46,000 for a Vortex, van and extras and it should have been £60k? Crikey, I got a triplr, capable Titan 875 with a Renault Master 2.5cdti van with a 110 litres LPG conversion for way, way less than that. No wonder they don't sell many Truck Mounts, they must be applying Fast Track prices to their Truck Mounts too.

Joe,
I can assure you I didn't pay anything like £45k for my new Titan and van and the Titan, with 875 CFM's is at least a third more powerful than the Vortex and is triple, not dual capable, which makes it even better value for money.


In the circumstances I do hope a good price is got for this set up, but if anyone is seriously looking at a new Truck Mount it might be a good idea to speak to Hydramaster and negotiate yourself a more realistic deal, they'll even get you van at a really good price.
What you've got to realise is that when lease something, you're paying list price for the machine and the van and that is what makes the whole deal so expensive. IMO it would be far better to negotiate a deal and then if you haven't got the money, borrow it from the bank.

Simon

[Dave_Lee]

Simon, You get what you pay for.
Dave.

[Simon Gerrard]

Dave,
That was exactly my point, glad you agree

[PaulKing]

And I think knocking anything to do with this is in very poor taste.

[CATMAN]

I would advise anyone who is considering buying equipment to steer clear of Lease Finance as appears to be the case with the truckmount.

The finance company purchases the asset on behalf of the intended buyer who then rents the equipment from the finance company over a set period 3/5 years. You then go into a secondary rental period equal to one months rent once the given period of time has passed . This is paid yearly until you decide to sell the asset. You keep 95% of the sale, give the finace company 5% plus the full vat. Remember you can never own the equipment, which can become a bit of an issue as the secondary rentals are pure profit for the finance companies.  Straight HP is a much better bet.

Lease Finance is usually taken out when you get a new van and offload after five years. If the finace is taken out with Lombard they only allow you to sell to a garage or dealer when the times up, anyone else you can sell to whoever you like.

I would be interested to know if Lombard are going to take 5% of the sale price of the  plus the outstanding settlement figure after all they are owned by RBS.

Regards

Graham

[Len Gribble]

Hope the kids walk away with a few bob

Len

[PaulKing]

That would be good and what we should all be hoping for.

[derek west]

looks like thats it, 5 mins left.

Hello Derek,


The bid for the Van and Truck Mount is now at £25,500.  We are hoping to close the Auction at 3.00pm today.  If there are any final offers please email me today before 3pm.

Regards

Robert


derek

[Paul_Ashworth]

Somebodys got a bargain