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  • FIRST POST
    Former MSE Lawrence
    MONEY MORAL DILEMMA: Should Billy do Vinny's telly deal?
    • #1
    • 9th Jun 09, 2:59 PM
    MONEY MORAL DILEMMA: Should Billy do Vinny's telly deal? 9th Jun 09 at 2:59 PM
    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

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    Last edited by Former MSE Rose; 10-06-2009 at 12:39 PM.
Page 1
    • scotsbob
    • By scotsbob 9th Jun 09, 5:16 PM
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    scotsbob
    • #2
    • 9th Jun 09, 5:16 PM
    • #2
    • 9th Jun 09, 5:16 PM
    He should wait until Vinny's business fails then get the TV even cheaper as bankrupt stock.
    • Flickering Ember
    • By Flickering Ember 9th Jun 09, 7:34 PM
    • 11,623 Posts
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    Flickering Ember
    • #3
    • 9th Jun 09, 7:34 PM
    • #3
    • 9th Jun 09, 7:34 PM
    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.
    Flickering Embers grow higher and higher...I need a break and I wanna be a paperback writer!
    • Taffybiker
    • By Taffybiker 9th Jun 09, 7:45 PM
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    Taffybiker
    • #4
    • 9th Jun 09, 7:45 PM
    • #4
    • 9th Jun 09, 7:45 PM
    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.
    Last edited by Taffybiker; 10-06-2009 at 6:56 AM. Reason: OP edited after my original response.
  • Cerisa
    • #5
    • 10th Jun 09, 8:27 AM
    • #5
    • 10th Jun 09, 8:27 AM
    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
    • By pippinpuss 10th Jun 09, 9:39 AM
    • 97 Posts
    • 88 Thanks
    pippinpuss
    • #6
    • 10th Jun 09, 9:39 AM
    • #6
    • 10th Jun 09, 9:39 AM
    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
    • #7
    • 10th Jun 09, 10:07 AM
    • #7
    • 10th Jun 09, 10:07 AM
    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.

    totally debt free and, as my Mum always put it, enough in the bank in case the roof needs repairing
  • garethjv
    • #8
    • 10th Jun 09, 11:54 AM
    • #8
    • 10th Jun 09, 11:54 AM
    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
    • By johnmc 10th Jun 09, 12:40 PM
    • 1,255 Posts
    • 478 Thanks
    johnmc
    • #9
    • 10th Jun 09, 12:40 PM
    • #9
    • 10th Jun 09, 12:40 PM
    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
    • By irishwench69 10th Jun 09, 3:31 PM
    • 794 Posts
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    irishwench69
    Hi,

    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
    Debt free wannabe - Proud to be dealing with my debts!

    Remember the MoneySaving mantras!

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

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    Will I use it? Is it worth it? Can I find it cheaper anywhere else?
    • poppy10
    • By poppy10 10th Jun 09, 5:43 PM
    • 6,034 Posts
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    poppy10
    If it's family he should go for it.
    • pineapple
    • By pineapple 10th Jun 09, 5:52 PM
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    pineapple
    Only if I wasn't paying even just a deposit up front!
    Sorry to sound mercenary but a £5 reduction is derisory, even on the web price. This item could cost several hundred pounds (and up).
    • JayD
    • By JayD 10th Jun 09, 8:03 PM
    • 517 Posts
    • 326 Thanks
    JayD
    Yes he should go ahead and pay on delivery.
    Demanding that only pays up once he has the TV is no less reasonable than Vinny demanding cash in hand. I am sure they will both be able scratch each other's backs to mutual advantage with no problems.
    • durham_girl
    • By durham_girl 10th Jun 09, 8:03 PM
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    durham_girl
    I would agree to the deal, but I wouldn't be paying any money up front. Cash on delivery only!
    30/7/10

    24/1/14
    • tallgirld
    • By tallgirld 10th Jun 09, 9:45 PM
    • 476 Posts
    • 315 Thanks
    tallgirld
    Pay cash for a measly £5 saving!!

    He's taking the mick. I'd want at LEAST a £50 reduction or i'm not doing business with you. Family or not!!!!!
    • Ebenezer_Screwj
    • By Ebenezer_Screwj 11th Jun 09, 7:06 AM
    • 420 Posts
    • 229 Thanks
    Ebenezer_Screwj
    Yes, Billy should buy the TV but at a much higher discount than £5 .... unless of course he finds the same product vastly reduced at an electrical superstore ..... after all, Vinny - it's just business
    • pineapple
    • By pineapple 11th Jun 09, 2:01 PM
    • 6,298 Posts
    • 30,236 Thanks
    pineapple
    And the other thing I've just thought of is to make sure the receipts and guarantees are in order. Anyone know if the guarantee still stands, if the business you bought from goes belly up?
  • biosh
    Possibly, but only pay cash on delivery (as a favour to family). However, my single purchase isn't going to turnaround a failing busines, so....

    ..... probably just buy it elsewhere on my moneyback credit card, thus getting 1% off the cheapest web price and get a cast iron guarantee. CC paid off every month of course.

    However, I would offer to buy it from him at the cheapest web price with my credit card - up to him if he takes it. Which is what I tend to do with local independent businesses anyway. I want to support them but I'm not prepared for that to cost more than a marginal difference in price. As I say, my purchase isn't going to solve any fundamental problem with his business.
    • hundredk
    • By hundredk 11th Jun 09, 9:51 PM
    • 1,062 Posts
    • 976 Thanks
    hundredk
    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
    Originally posted by pippinpuss
    That's not the dilemma tho..... "Vinny 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..."

    Vinny wants the cash up front... goes on to explain business has been tough recently and he’s very grateful as he's really struggling and he needs the cash.......either to help with cash flow problems or to avoid tax.

    Not worth if for a fiver IMO
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