Engine overhaul finances

[Henning]

I carry dollars and pesos in my wallet. Usually run out of dollars..but always have those pesos. You never know when you'll need some pesos...

I also have Singapore Dollars, Aussie Dollars, and Indonesian Ruphiah, but only a few hundred US dollars worth of each. Usually I don't change currency to USD unless I need it so I have enough to get by when I go back until I get set up. No bigger rip off then showing up and needing to exchange current right away for a cab and a meal until I get settled in.

 

[JoseCuervo]

When it comes to shops, aviation, cars, etc I can say I have had the complete opposite experience when paying cash.



As someone who did a considerable amount of freelance instruction, I always requested cash.

If you are doing freelance instruction, you really aren't a business. Your preference is similar to others who perform illegal activities.

I know a guy that owns three retail stores in a couple of local malls. He said, last year, cash was about 30% of his receipts, and he wishes it was lower.

The merchant processing fees are much cheaper than the cost of employees who can't count change, messed up bank deposits, and managers carrying bags of cash to the night deposit.

 

[JoseCuervo]

Doesn't that concept go for your every day service providers?



I'm sure your A&P doesn't want to loose you as a customer by scamming your card.

Yes, it does. For the most part.

Although your A/P may be able to fraudulently charge a piece of non-related test equipment and claim it was "authorized" under a verbal agreement where's the 20 year old waiter would not have any such claim.

The issuer might not reimburse to the mechanic scenario as there may have been a side agreement, and you willingly gave a card to another person to make charges on your behalf (some sort of Power of Attorney) as opposed to the waiter just scamming.

Also, it is not difficult to go to a local credit union and open a 1-time checking account with a $7k deposit and give the debit card to the mechanic, and not worry.

 

[Henning]

Yes, it does. For the most part.

Although your A/P may be able to fraudulently charge a piece of non-related test equipment and claim it was "authorized" under a verbal agreement where's the 20 year old waiter would not have any such claim.

The issuer might not reimburse to the mechanic scenario as there may have been a side agreement, and you willingly gave a card to another person to make charges on your behalf (some sort of Power of Attorney) as opposed to the waiter just scamming.

Also, it is not difficult to go to a local credit union and open a 1-time checking account with a $7k deposit and give the debit card to the mechanic, and not worry.

Exactly, the best way I found to deal with it is through limiting exposure, because the reality is, it is a very rare situation where the card gets abused, and it speeds the service when the card is with the plane.

 

[Jimmy cooper]

From what I've gathered from others who have used them, I'd simply call zephyr in Florida, ask charlie how it works, send him the engine and pay by check. Have the local shop pull and remount the engine, pay that by check also. Easy.

 

[RotorAndWing]

From what I've gathered from others who have used them, I'd simply call zephyr in Florida, ask charlie how it works, send him the engine and pay by check. Have the local shop pull and remount the engine, pay that by check also. Easy.

Ditto for Don George Aircraft Engines (Orlando)

 

[mkosmo]

It's not a problem, Visa handles that for you.

BTW, could you give me the name of your coke dealer? Mine only takes cash. I haven't been able to swipe a card in a hooker's slot either.

If I've dubbed them an authorized user (even temporarily to masquerade as me), I'd have a real tough time getting Visa, MC, or Amex to do anything about charges that were authorized on my behalf.

One of these days dealers and hookers will just have a square reader and write it up as an order for empanadas or something

 

[Henning]

If I've dubbed them an authorized user (even temporarily to masquerade as me), I'd have a real tough time getting Visa, MC, or Amex to do anything about charges that were authorized on my behalf.

One of these days dealers and hookers will just have a square reader and write it up as an order for empanadas or something

They're not stupid enough to give up 3%.

 

[JoseCuervo]

They're not stupid enough to give up 3%.

Harder for a pimp to grab a PIN and a debit card from a working gal than to just grab her cash. That is a transaction the service provider might be better off using an electronic transaction.

 

[Henning]

Harder for a pimp to grab a PIN and a debit card from a working gal than to just grab her cash. That is a transaction the service provider might be better off using an electronic transaction.

With Backpage, pimps are losing market.

 

[bluerooster]

He means I PayPal you the money. Slightly less expensive than Western Union.

If you "gift" the money there is zero paypal fees.

 

[bluerooster]

I typically accept no form of payment untill the job is completed. Then I expect cash payment, or certified funds, drawn on a bank with a local branch.
Very rarely will I ask for "operating capital", unless I have already invested several thousand in parts and materials, and I'll only ask for my invesment back based on the receipts for purchased goods.

 

[Tom-D]

I typically accept no form of payment untill the job is completed.

I am sooooo happy you can afford to get stuck with an engine overhaul for $15-20K. most A&Ps can't

 

[Tom-D]

I typically accept no form of payment untill the job is completed. Then I expect cash payment, or certified funds, drawn on a bank with a local branch.
Very rarely will I ask for "operating capital", unless I have already invested several thousand in parts and materials, and I'll only ask for my invesment back based on the receipts for purchased goods.

And when your owner say's my car it, my wife she, and my dog shi-t and I can't pay. what then? are you going to try to sell some thing you don't own?