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View Full Version : Leasing mowers??


okeefl
01-27-2007, 08:27 AM
Has anyone recently used a "lease program" for your mowers? I saw that Dixie Chopper has this type of program for 24 or 36 months...any thoughts or advice (pros-cons)

Proscapez LLC
01-27-2007, 09:31 AM
Thats funny! I asked my local dixie chopper shop about lease's last month, and he claimed no one lease's mowers.

GreenN'Clean
01-27-2007, 09:42 AM
Id rather buy then to lease. I own all of my equipment,trucks,trailers,etc free and clear and I prefer it that way.

Lynch Landscaping
01-27-2007, 09:57 AM
I would never lease a mower.

jtkplc
01-27-2007, 11:10 AM
I would never lease a mower.

why wouldn't you?

Josh.S
01-27-2007, 11:44 AM
Has anyone recently used a "lease program" for your mowers? I saw that Dixie Chopper has this type of program for 24 or 36 months...any thoughts or advice (pros-cons)



What kind of cost per month are we looking at?

PORTER 05
01-27-2007, 11:50 AM
sure you can lease mowers, i think Exmark has a link to it on their website, when i went to buy my 06 Exmark W/B, i bought it cash but when i got in there the owner of the shop was going through all this paper work and it was for me to lease it, but i told him i was going to pay cash, sopose he dint lisen to me on the phone....he told me it was about $90 a month for 24 months with $1000 down for a 06 Exmark Metro W/B,,,,i know a guy that leased a Toro W/B for about the same price, i dont see why tis bad, and its wat im going to do in the spring for my next Exmark Metro W/B.minds well have the lawns pay for the machine

Richard Martin
01-27-2007, 12:35 PM
Lease programs for mowers don't usually work the same way as a lease program for a car or truck. With a car or truck you have the option of returning the vehicle at the end of the lease or buying it. With most mower leases you buy the mower at the end of the term for one dollar (or whatever) and the mower is yours. It's treated by the IRS as a finance and not a lease and recovery is still due if you sell the mower.

I bought my 36" Exmark from www.telmark.com back in 2000 on a lease.

okeefl
01-27-2007, 01:37 PM
I am not sure of the specific costs involved, just surfed onto last night while doing some research. This site is a wealth of information so I thought I would see what you guys/ gals knew about it.

www.aefi.biz/default.asp (here is the site)

Lazer_Z
01-27-2007, 01:53 PM
I'm coming up on the one year mark with the lease on my Phazer and when I found out what I'd be paying per month I was surprised that it was less than I thought it might have been. I did not have $5K+ just lying around and I wanted to upgrade to a rider so a lease was the best option for me. I may do it again depending on what is being offered at the time in the form of interest rate % and X amount of time for the lease.

I don't know if putting money down would have made any difference in what I'm paying. If I do lease another machine I'd most likely put something down.

Rob

jtkplc
01-27-2007, 02:11 PM
Can someone throw out some more numbers that they are paying on a lease, I'd like to know if it would be more money overall to lease or just finance it and make payments.

Lazer_Z
01-27-2007, 03:02 PM
Can someone throw out some more numbers that they are paying on a lease, I'd like to know if it would be more money overall to lease or just finance it and make payments.
For my Phazer I'm at $175.00 a month. The financing is for 3 years, I did not put any $ down or trade anything in. What ever you call it,finance or lease just make sure you are happy with what you are getting & watch out for any rebates. Hope this helps you.

Rob

gene gls
01-27-2007, 07:52 PM
Can someone throw out some more numbers that they are paying on a lease, I'd like to know if it would be more money overall to lease or just finance it and make payments.

Lease payment depends on total price of machine and how much you put down when you sign. I went through Sheffield Fininacial with a dollar buy out at the end. With a lease, everything is deductiable on taxes.

qualitylawnmanagement
01-28-2007, 12:58 AM
I was going to lease my new Dixie, but decided not too. But once I get to the point where I am running 3 to 4 crews I will start leasing my Dixie's and turn them in every two years.

MJB
01-28-2007, 11:22 AM
I've bought 5 mowers all with the lease program in the last 15 yrs. I use Advance Acceptance most of the time. I make payments 7 months per yr during my growing season, no payments in the winter. My payments are higher but new mowers increase productivity makes up for it. At the end of the lease I pay $1 and own the mower. Just bought a new Hustler using this plan. Plus the whole payment is a tax write off.

jtkplc
01-28-2007, 01:22 PM
I've bought 5 mowers all with the lease program in the last 15 yrs. I use Advance Acceptance most of the time. I make payments 7 months per yr during my growing season, no payments in the winter. My payments are higher but new mowers increase productivity makes up for it. At the end of the lease I pay $1 and own the mower. Just bought a new Hustler using this plan. Plus the whole payment is a tax write off.

What's the payment on your Hustler?

MJB
01-28-2007, 01:43 PM
What's the payment on your Hustler?

$600 per month.....May - Nov When I bought it I needed something fast and I picked up a $1300 per month job so it has worked out well.

jtkplc
01-28-2007, 02:47 PM
$600 per month.....May - Nov When I bought it I needed something fast and I picked up a $1300 per month job so it has worked out well.

Ok, not as bad as I thought. How many years do you pay for?

MJB
01-28-2007, 02:56 PM
Ok, not as bad as I thought. How many years do you pay for?

I believe it is for 18 pyments don't recall exactly, I put around 1500 down too. I don't remember exactly the terms. But it works out to a little more than buying it through a bank with 12 pymts at the going rate. Check it out by contacting Advance Acceptance and get prequalified for the mower.

jtkplc
01-28-2007, 03:02 PM
28 X $600 = $16,800 + $1500 down = $18,300???? That's a lot of money overall for a what I'm assuming is the 66" Hustler listed in your signature.

MJB
01-28-2007, 03:06 PM
28 X $600 = $16,800 + $1500 down = $18,300???? That's a lot of money overall for a what I'm assuming is the 66" Hustler listed in your signature. hahaha sorry I corrected the post above.

I'm not thinking about mowers yet, I'm buying an RV and just messed up on my payments .

jtkplc
01-28-2007, 03:31 PM
hahaha sorry I corrected the post above.

I'm not thinking about mowers yet, I'm buying an RV and just messed up on my payments .

Ok, I see the correction and that seems a lot better. Do you know the cost of that mower if you paid cash for it the day you bought it? I'm just curious how it compares overall.

tallimeca
01-28-2007, 06:36 PM
I usually don't offer any of the lease programs to my customers unless they want to pay promo price. Lease programs cost Dealers more and is much more paperwork then financing. So it is harder for a dealer to give you a better price. I had a guy who wanted to buy a Navigator yesterday. I asked him how he was looking to pay. He said he might finance it, but he could cut a check. I told him, if he pays cash, i'll extend a 2 percent discount because that's what the finance plan was going to cost me. That 200 bucks savings could be put toward a new trimmer or hand blower. Or a ballgame with the kids. Very rare that guys have 11k in their account to just drop, especially when the weather has been so fair around here and many guys aren't plowing or salting.

Most people just finance it.

All depends on how you want your finances to look. Talk to your accountant on what is right for you. .