Panasonic HPX370 financing

BVX said:
Since Panasonic hasn't updated their site
Click to expand...

Ah, the website...

The financing is separate from Panasonic, please try contacting them directly:

800-373-6304

(If you are calling the finance number and not getting an answer, then sorry, I'm stumped... we do have some eMail address and cell phones you can try :evil:)

Attached is a more general banner with all their current promos. So we can confirm the AG-HPX370 special (as well as others).

Best,

Jasmine Moore
Administrative Assistant
Specialized Communications / Noventri
20940 Twin Springs Dr.
Smithsburg, MD 21783-1510 USA
800-359-1858 (US)
301-790-0103
Fax: 301-790-0173
jasminem@spec-comm.com
www.spec-comm.com
www.noventri.com
 

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I found it very easy, but I have great credit. I contacted them lately and the difference is now we need to do a PG (Personal Guarantee), so we as camera owners are personally liable. I don't think that's a problem, as compared to a $60K deal. Panasonic Financing will want your latest tax return.
 
You have to send them your tax returns, etc. and the contract you sign says that YOU, not the business, are responsible for paying Panasonic. So if your biz goes under you are still on the hook.
 
Interesting, Ned. Do they allow ancilary cost inclusions, such as P2 media, tripod plates, shotguns, batteries...etc?


Jason
 
nedcam said:
You have to send them your tax returns, etc. and the contract you sign says that YOU, not the business, are responsible for paying Panasonic. So if your biz goes under you are still on the hook.
Click to expand...

I could handle that. Plus inland marine insurance that makes them the benefactor.
If I could actually find someone to write me an inland marine policy.
 
For those about to finance through Panasonic... READ THIS!

I did this financing about a month ago. No tax returns were needed, just a credit check. And I was able to put a few other things on the invoice, as long as they were Panasonic. Overall pretty easy transaction but I WARN YOU... read the fine print and do the math on your amortization schedule. I caught 3 "mistakes" by Panasonic finance and heard a lot of "hemming" and "hawing" on the other end of the phone when I called them on those 3 items. If I did not catch them my interest rate would have been 10.5%, and I did have my accountant check it out as well and he also caught the same 3 mistakes.
There is also a $100 Documentation fee that they will not bring up (unless you read the fine print and ask), and there is a $150 buyout fee at the end so that you own the equipment when the lending period is done.

Remember buyer beware, in this case, lender beware! Everyone is out to make money. In the end it is a great deal and turned out fine but CYA.
 
Yes you can ladle accessories on as long as they are Panasonic. Every leasing office will have origination fees, that's how they make their money. I don't think the leasing company Panasonic hired makes money on the interest.

Always have your CPA go over the paper work, compare it to a regular loan or your lowest rate credit card. I found their financing the cheapest deal. I could have paid cash but in these times you should store your cash for another downturn, another 9/11, etc.

In sum, I have had a very pleasant experience with their financing prorgam.
 
Another shooter and I have been dealing with the Panasonic 3rd party leasing company for the past 2 weeks and I would say that a used car salesman comes across as more honest than these guys. Both of us separately asked what all the costs were and were told about the $100 buyout at the end of the 2 years. You can buy non-Panasonic stuff with the camera, but it's charged at a little under 8% and blended into the 0% rate, in my case a little under 3% for the whole package. Then I found out here in this forum about the $150 processing fee and asked them about it. They acknowledged the fee, but pleaded forgetfulness in neglecting to mention it. Today, after a week of getting quotes from vendors, I'm ready to buy from an out-of-state vendor and I get the contract to sign from the leasing company, and it includes 6% sales tax on all $15,000 of items. The leasing company said "I know we're in Pennsylvania and you're in Vermont, but we charge sales tax anyway". This effectively makes for 9% interest when coupled with the 3% financing.
 
Eddo,

Generally, leasing contracts charge sales tax by the month on each payment. If the state your leaser resides in has reciprocal agreements with your state, they have no choice. Even if they don't, you would be liable for the sales tax within your state. Most leasing companies do this, so this part isn't a ripoff or scam.

Having said this, most small leasing companies are crooks IMHO. It almost always costs more in the end than purchasing. Dollar buyouts are questionable on your taxes if you are taking it as an expense rather than a capital investment. If it isn't a 1$ buyout, make sure they specify in wrtting, the cost of the buyout. If they give you some crap about market value at the end of the lease, then tell them that is unacceptable. At the end of the lease, when you have most of the cam paid for, they will hit you with a high residual, and if you keep the cam, will end up paying for it twice. The buy in and buy out charges are usually a scam. Have they hit you yet with the document overnite shipping charges yet? The point is, this is usually not a good deal unless you need the lowest possible payment.

Grant
 
First, I should mention that the program we were signing up for was not called a lease by Panasonic. The options were: Purchase at 0% interest with 25% down over 2 years, or, a lease. As it turns out, they basically do a lease with a $100 buyout at the end. So, not really a lease, but with some of the same terms. Here's what Panasonic calls it:
"From now through September 30, 2010, when you purchase an AG-HPX370 you can choose from two financing options.
1.) 0% financing for 24 months with only 25% down.
or
2.) A leasing option that offers $0 Down, no payments for 90 days and a 3 .99% lease rate for 24 months."

My point was that we asked many times what the total cost would be and the sales tax never was mentioned. If I bought directly from a vendor like B&H in New York there wouldn't be sales tax (and yes, I know I'd be obligated to pay the sales tax to Vermont, but, in the real world........
I've decided to find the cash to buy what I need, write a blistering letter to Panasonic about their 3rd party finance company (and name the sleaze bags) and move on.
 
So I've just gotten approved for a 0% credit card (0% for 12 months on new purchases). I've paired down my wish list to the essentials. I was going to include a new tripod, battery system, wireless lav system, matte box, and a few other goodies, but with cash I'll stick with my perfectly usable Miller System 30 sticks for a few months, my existing lav systems and batteries, and forego the matte box for a couple of months.
All's good in the end, but beware the 3rd party Panasonic finance guys!
Ed
 
Just have your accountant look at all the paper work from these lease companies. As long as you are covered you can get a good rate. It's too bad these guys do not divulge all the details until you are ready to buy, buyer beware.
 
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