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Early Payment Discounts....Worth it??

posted 2 years ago in Money
  • 1 Members Subscribed To Topic
  • poll: Would you pay extra up front in order to get a discount?
    Pay the entire fee up front! : (6 votes)
    29 %
    Stick with your gut and only do the 50% up front : (13 votes)
    62 %
    It would be safer to pay the 50% within 60 days : (1 votes)
    5 %
    Beware! Only pay the deposit fee! : (1 votes)
    5 %
  •  
    1.
    Member
    626 posts
    Busy bee
    starcharades    December 31, 2011   Philadelphia

    So I am about to sign the contract for our venue (which I adore!) and give our deposit. The deposit is $1,500. They have discounts right now (because they are a semi-new venue owned by an old non-profit) that if you pay the entire site fee of $6,200 up front you save 15%. If you pay 50% of the site fee up front you save 10% and if you pay 50% of the site fee within 60 days you save 5%. Could this be worth it? I would probably pay the 50% up front if I was going to do anything especially since I would have to pay 50% within 180 days anyway. Definitely would not pay the entire fee up front. But paying 50% up front would save me $620...and that is a good chunk of money.

    I constantly have my guards up so I am not sure if it is worth it or not. On the one hand they are a new venue. But on the other hand they are owned by a non-profit organization that owns like 20 other properties. I would love to save some money however possible. But is it worth the risk since they are a new venue?

    What would you do?

     
    2.
    Member
    9,963 posts
    Buzzing
    Beekeeper
    CorgiTales    February 1, 2011  

    I see no reason not to put down the 50%. $620 is a lot of money to save! If you love the venue enough to put money down, why not put down half?

     
    3.
    Member
    2,509 posts
    Sugar bee
    ddubzz    June 5, 2010   Los Angeles, CA

    If it's THE venue, then I would try to get as much discount as possible.  It's great that they're offering that!  It doesn't sound like you're convinced this is the right venue for you though, so I would proceed with caution.  Are you more worried because it's such a new venue?  Are there any online reviews that can help convince you (or sway you)? 

     
    4.
    Member
    626 posts
    Busy bee
    starcharades    December 31, 2011   Philadelphia

    I definitely love the venue and know it is the right one. My only hesitation is that they are such a new place.

     
    5.
    Member
    1,066 posts
    Bumble bee
    Br1tSh1n1ngStar    10/17/09   New Jersey

    I would pay and get as much of a discount I could get, just make sure to have a contract that spells out EVERYTHING.. you should have no problems if it's all in writing, every little detail just please read it really really well.

     
    6.
    Member
    626 posts
    Busy bee
    starcharades    December 31, 2011   Philadelphia

    Oh yes. Definitely learned from past bee's experiences about getting everything into the contract. Thanks for the tip!

     
    7.
    Member
    2,350 posts
    Buzzing bee
    heather25       New York

    If I loved the place, I would put down the entire thing to get the best discount.  Ask for references from their other properties maybe to allay your fears.

     
    8.
    Member
    660 posts
    Busy bee
    Stacy Marie    July 24, 2010  

    I would do it, especially since they're back by an established non-profit. 

     
    9.
    Member
    626 posts
    Busy bee
    starcharades    December 31, 2011   Philadelphia

    Thanks all for the tips!

     

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