Mooring Fees - Pay by instalments

P

PGD

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Thames - non tidal
www.peter-davey.com
OK so it’s that time of the year again to renew your mooring contract. Now Harleyford charge and extra 15% to pay by 3 instalments, which I think is excessive.

What sort of other company policies do you face around the country?

Peter


<hr width=100% size=1>cooking on gas - no way - running on diesel /forums/images/icons/wink.gif
 
Just plain arragance mostly. Is there any other??
But you could pay it all at once and counter there plot....../forums/images/icons/smile.gif

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smiling.gif
Haydn
 
Oh I do intend to pay in one go - normally via my overdraft which is V cheap - but the plan is to pay on 0% credit card over 6 months - 1900 quids a bit much to find in one go - s'pose I should save up during the year - but that's being sensible :-)

<hr width=100% size=1>cooking on gas - no way - running on diesel /forums/images/icons/wink.gif
 
I have taken out one of those 0% for months and months credit cards just for this purpose. Can't lose as also get Tesco points towards the shopping too

Nick

<hr width=100% size=1><A target="_blank" HREF=http://arweb.co.uk/argallery/Nick2>http://arweb.co.uk/argallery/Nick2</A>
 
Always concerned about paying one chunk and then the marina going bankrupt. Not sure where you'd stand if that happened, no doubt one of the legal eagles here could tell us.

<hr width=100% size=1>Jim

Draco 2500
 
And me will use the money from normal repayments to reduce the size of the debt

No charge here for installments, £68ppm for 26 footer.

<hr width=100% size=1>Dom

2003 is going to be a good year for me
 
not a legal egale just a bit of a fledgling - but you join the long list of creditors - somewhere near the bottom !!!!! - But you would hope that any new buyer would honour the mooring contracts - if they didn't folks would move v quick and hey the nice marina you just picked up goes bust again! with no hope of boats prepared to moor there as you have no reputation.

<hr width=100% size=1>cooking on gas - no way - running on diesel /forums/images/icons/wink.gif
 
well i am very pleased my marina would like £1282.76 up front for 12mnths or if i like i can pay by dd over 12 months for £1356.80or if that is not suitable quarterly at £333.10 all on a 12 month contract or alternatively or on a 3 month contract from 440.00 per 3 months up to 850.00 for 6 months and thats for a 24ft boat so i don't think that's bad particularly as it is council owned and run!!!

julian

<hr width=100% size=1>oooh, i'll be fishing soon.
 
£39 per month /forums/images/icons/laugh.gif

<hr width=100% size=1><A target="_blank" HREF=http://www.arweb.co.uk/argallery/forbsie?&page=1>My Project</A>
 
Am trying to arrange a bert in Brighton (Premier Marina) - discount if pay up front - 7.5% charge if spread by d/d. I can understand the discount - but I though d/d was free to set up - why the charge?

Am now thinking of 0% c/c!

<hr width=100% size=1><font color=red>... too late now, I've bought a boat!
 
d/d is cheap to set up, cost the compnay 50p per transaction - so why the inflated cost ! - Probably the cost of not having all the money now - very odd policy - like the discount up front though.

<hr width=100% size=1>cooking on gas - no way - running on diesel /forums/images/icons/wink.gif
 
If you have paid a year's mooring fees, you're entitled to a year's mooring. That's the essence of the contract. Availablilty of facilities etc are implied but not fundamental to the contract. So, if marina owner goes bust, you stand as unsecured creditor if unable to keep your mooring or entitled to refund because of bankruptcy/insolvency (not likely that any standard berthing contract will contemplate refund).

Overwhelming probability is that you will keep mooring even in bankruptcy or new ownership situation so refund/unsecured creditor question unlikely to arise. New owner very unlikely to ask berthholders to pay twice as inertia is important element in repeat business (always cheaper to keep existing customers than find new ones).

Going back to original post, 15% service charge is very steep. If mooring fees (incl. 15% service charge) paid by 3 instalments beginning of months 1, 5 and 9, effective interest rate is 47% p.a. If paid beginning months 1, 4 and 7, effective interest rate is 63% p.a.

For comparison, Port Solent charges 5% for 12 equal payments (2 up front then 10 monthly payments from month 2) = 13% p.a.

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