Re: Harvest season? - Posted by Eric C
Posted by Eric C on January 15, 2001 at 15:59:16:
Hi Dee -
Something that has worked for me (during the early spring - tax season) is to work the tax refund angle.
Many, if not most, of your potential customers in small towns will be expecting LARGE refunds; especially those folks who meet the qualifications for the EITC (Earned Income Tax Credit). The majority of these same people will have $2K - $5K to use for automobiles, bills, etc.
Current regulations (as I understand them) REQUIRE all recipients of State assistance programs (housing, medical, etc) to spend their refunds within 30 days. They cannot purchase anything of value, cannot hold it for investment, cannot put it under the mattress.
Sometimes, they are required to show receipts for their purchases(along with copies of their tax returns) to demonstrate to the interested agencies that the money truly is gone. If it is not… they can lose all or part of their “benefits”.
Car dealers, new mobile home sales offices, and others have learned to utilize both the timing (tax season) and the regulations (encouraging spending) to their benefit.
Please note, I’m not taking a position on any issue here, other than to tell you that there will be money for downpayments (and other things) available in your small Texas town in quantities that may boggle your mind. (You don’t have a bank in your town that can cash all those checks, believe me!)
What you do with the information is your business.
PS - just remember that just because someone has the money for a “reasonable and negotiable” downpayment doesn’t mean you shouldn’t screen them carefully.