MONEY MORAL DILEMMA: Should Billy do Vinny's telly deal?

Former_MSE_Lawrence Posts: 975 Forumite
edited 10 June 2009 at 11:39AM in MoneySaving polls
Here's this week's hypothetical situation for you to cogitate on:

Billy's on the lookout for a bargain high def TV, so he asks his cousin Vinny - who runs a small TV shop - to do him a deal. Vinny says for family he’ll order in the telly and beat any web price by £5, but only if Billy pays in cash. He then goes on to explain business has been tough recently and he’s very grateful as he's really struggling and he needs the cash. Yet of course this means there’s a risk he could go under before the telly's delivered...
Should Billy do Vinny's telly deal?
Click reply to have your say



  • scotsbob
    scotsbob Posts: 4,632 Forumite
    He should wait until Vinny's business fails then get the TV even cheaper as bankrupt stock.
  • ThinkingOfLinking
    ThinkingOfLinking Posts: 11,828
    Combo Breaker First Post First Anniversary
    I don't fully understand the OP. I understand the business could go under without his custom as he's struggling or do you mean by pocketing and not declaring the cash in case he gets found out, his business could go under?

    Personally, I would do the deal. I'd be helping out a family member and getting a little cash to tide myself over. I wouldn't declare it yet though; I'd wait til I was more solvent and then declare the sale.
  • Taffybiker
    Taffybiker Posts: 927 Forumite
    edited 10 June 2009 at 5:56AM
    Sure Billy should do the deal. He helps family and saves money. He would have to insisit on payment after delivery though. If the retailer goes under, the manufacturer is still obliged to honour the guarantee.
    Try saying "I have under-a-pound in my wallet" and listen to people react!
  • Cerisa
    Cerisa Posts: 350 Forumite
    of course he should. It's family. He should also offer to put up a card at work, and help advertise Vinny's business that way
    £1600 overdraft
    £100 Christmas Fund
  • pippinpuss
    pippinpuss Posts: 98
    First Anniversary Combo Breaker
    Yes do the deal, but you don't have to pay until tv is delivered. I certainly wouldn't pay in advance to any company
  • Stampede_2
    Stampede_2 Posts: 49 Forumite
    Short answer - I'd probably cautiously do the deal.

    I'm not sure exactly what the problem is:

    Is the money being asked for up front before the TV arrives ..? all businesses appreciate swift payment and an assurance that they will be paid and family are no different so I would be prepared to pay once and immediately I got the TV but not before.

    The Q hints maybe there may be some sort of 'irregularity' on the part of Vinny, perhaps in the way he in turn completes his paper work but on the other hand the immediacy of cash may well resolve those issues and, in the absence of proven illegality, not really my problem.

    If the wholesale supplier needs cash before accepting the order from Vinny that might suggest a more serious situation, a frank discussion should resolve it and as long as I saw the money paid over to the supplier I'd be happy as once the goods were delivered they would be clearly identifiable goods, paid for, and therefore beyond the reach of any liquidator stock snatch back.

    I'd need to be sure the supplier was not going to accept the cash and then use it to off set any of Vinny's existing debts and not supply the TV.

    :j totally debt free and, as my Mum always put it, enough in the bank in case the roof needs repairing
  • garethjv
    garethjv Posts: 23
    First Post First Anniversary Combo Breaker
    I think it really depends on how close he is to his cousin! It's implied in the question that the cash is needed up front before delivery so there is the risk of losing it all and having no TV if Vinny's business folds. Is it worth it for just saving £5 or is it worth it because Vinny is your cousin? I think this is the real question. £5 is neither here nor there these days so it really comes down to whether you want to loan Vinny the cost of a TV until he's able to deliver one to you.

    Maybe you could get some reassurance from him that he'll eventually pay it you back if he goes under!
  • johnmc
    johnmc Posts: 1,265 Forumite
    he asks his cousin Vinny - who runs a small TV shop - to do him a deal
    I wouldn't pay until I got the goods, but I would take the offer.

    I prefer to do business locally, with people / companies I know and what's closer than family?

    As someone else said, if Vinny goes bust he can always deal with the manufacturer as long as he gets a receipt (and that might be the real issue here!).
  • irishwench69
    irishwench69 Posts: 807
    First Anniversary Combo Breaker

    As long as I could afford to lose the money that I was spending on the tv (assume yes!), and it wasn't being done in cash for other dodgy reasons (e.g dodging the taxman!), then I'd do this deal, no problem.

    It is family after all!

    Is it not possible that Billy wouldn't have to wait for the telly at all - doesn't Vinny's shop have any stock in where Billy could go and get it straight away? Then you get round the whole waiting for stock issue :)

    IW x
    Official DFW Nerd Club - Member no. 222 :beer:
    :T Debt free wannabe - Proud to be dealing with my debts! :T

    Remember the MoneySaving mantras!

    IF YOU'RE SKINT......
    Do I need it? Can I afford it? Can I find it cheaper anywhere else?

    Will I use it? Is it worth it? Can I find it cheaper anywhere else?
  • poppy10_2
    poppy10_2 Posts: 6,568
    Name Dropper First Post First Anniversary
    If it's family he should go for it.
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