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Alpha Property
01-02-2009, 03:49 PM
So i'm planning on getting a new wright stander for the spring.
My dealer has a 32 and a 48 left over from 08, and i want the 48 to replace my home owner toro 44" z. its a fixed deck 19hp kawi with electric start, remember canadian dollars, but he's ball parking around $7100 for it. now i don't have 7100 cash, he is recommending that i lease this thing. he said that he has leased quite a few of them over the last couple of years and said it was working out quite well. If i do lease it i'm planning on buying it out at the end of the 3 or 4 years, and it will only be me or my father using it so i'm not too worried about abuse. Has anyone on here leased a new mower?

nosparkplugs
01-02-2009, 04:43 PM
So i'm planning on getting a new wright stander for the spring.
My dealer has a 32 and a 48 left over from 08, and i want the 48 to replace my home owner toro 44" z. its a fixed deck 19hp kawi with electric start, remember canadian dollars, but he's ball parking around $7100 for it. now i don't have 7100 cash, he is recommending that i lease this thing. he said that he has leased quite a few of them over the last couple of years and said it was working out quite well. If i do lease it i'm planning on buying it out at the end of the 3 or 4 years, and it will only be me or my father using it so i'm not too worried about abuse. Has anyone on here leased a new mower?

Love it builds a Dunn & Bradstreet credit score, no more going to the banks for a new loan; once you get the first lease on the books, and a good payment history going you can add $$$ equipment as needed quickly. Their is no dealer points or kick backs either buy going through their lenders:laugh::clapping:
Lease purchase or off balance sheet equipment, with 1 dollar buy out at the end. Need minimal a $1,000 balance in a commercial checking account for 3 years no sole proprietors must be INC or LLC , pay first & last month payments up front, carry full insurance coverage on equipment.

Unfortunately most equipment lease lenders start their minimal funding at $12,000. Lets face it were all trying to make some money here, their is no money in leasing a $7100 ZTR sorry.

Alpha Property
01-02-2009, 05:13 PM
lol wow, yea i think this guy's leasing company is a little more flexable, he said he's had guys lease commercial 21's befor. and has quite a few of these standers aswell as walkers and exmarks out on lease

DLCS
01-02-2009, 09:58 PM
Oops double post.

DLCS
01-02-2009, 10:00 PM
He is probabaly talking about Sheffield or Advance Acceptance. Both are good companies and will lease to anyone, sole proprieters, llc, inc, etc. Leasing has its advantages, talk to your accountant.

nosparkplugs
01-02-2009, 10:34 PM
He is probabaly talking about Sheffield or Advance Acceptance. Both are good companies and will lease to anyone, sole proprietors, llc, inc, etc. Leasing has its advantages, talk to your accountant.

The company I went through is Pentac Financial,
does not lease equipment under $12,000, must be a company,INC or LLC no sole proprietors.

Most companies like Caterpillar, Kubota, John Deere use Dunn & Bradstreet credit reporting if your attempting to lease of purchase equipment with a business name, otherwise you must personally guarantee the loan. Who wants their personal credit history with business equipment or loans attached. That only lowers your personal credit score.:hammerhead:

Sheffield Financial will lend to anyone loan with a heartbeat, their loans are always personally guaranteed, . I have a line of credit with Sheffield, and they surly do not post to Dunn & Bradstreet, and the loan is personally guaranteed. Are you sure Sheffield does leasing???

C4chris70
01-02-2009, 10:46 PM
I leased a Gravely through Clune and Company out of Ohio I believe. They were straight forward with no fine print. Some of the other companies had clauses in their agreements that stated you could buy the equipment at the end of the three year lease at "fair market value". Who decides what the value is? Read your contract carefully before you sign on the dotted line.

lifetree
01-02-2009, 10:50 PM
... i think this guy's leasing company is a little more flexable, he said he's had guys lease commercial 21's befor. ...

Man, they must be pretty hard up to be willing to lease a 21" machine ... regardles of whether it's commercial or not.

lifetree
01-02-2009, 10:52 PM
... Read your contract carefully before you sign on the dotted line.

Everyone should always do this, unfortunately, most don't !!

DuallyVette
01-02-2009, 11:25 PM
Any leasing offers that I was ever presented with, simply allowed me to pay more for the equipment.

dtford
01-02-2009, 11:47 PM
I have leased/financed equipment *(Walkers) in the past. What i liked about leasing is, you take the whole payment as a deduction, and you don't depreciate the equipment over a set number of years.

nosparkplugs
01-03-2009, 12:04 AM
I have leased/financed equipment *(Walkers) in the past. What i liked about leasing is, you take the whole payment as a deduction, and you don't depreciate the equipment over a set number of years.

I agree you can depreciate the principle, and interest for the whole life of the equipment. Their are other advantages like not having the equipment on your personal credit or a personal guaranteed.