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johnc8407
08-21-2009, 03:33 PM
Anyone know what credit score is required to finance a good zero turn mower?

Duffster
08-21-2009, 03:51 PM
Anyone know what credit score is required to finance a good zero turn mower?

Pay cash, then the score won't matter.

DA Quality Lawn & YS
08-21-2009, 03:53 PM
Pay cash, then the score won't matter.

Yep, agreed. Try not to finance a depreciable asset like a mower.

superrman77
08-21-2009, 04:06 PM
I would just call my nearest dealership and ask.

grandview (2006)
08-21-2009, 05:18 PM
Close to 800?

mjealey
08-21-2009, 06:38 PM
If you have a 680 you have a shot. You better have god income, and low debt. We call this debt to Income try to keep it at 30% debt of your income. You just can't go there and say you make $5,000 a month. You have to prove it by providing 2 years tax returns or pay stubs. If you are a business owner or sole proprietor it is going to beharder, because you are probably start up and don't have those things. To stand a good chance of getting approved you need to be around 730. Ask me if you have any questions, as I am a banker in commercial loans by day, landscaper night and weekends. If you got cash, that is by far the best and you will get the best deal. If not there are a few promotions out there from the Mafg. for 6 months or 12 months same as cash.


Ask if you got anymore questions!!!

Bryan B
08-21-2009, 07:27 PM
i'm new and starting also but i can tell you from weeks of reading for an hour or 2 a day alot of the new business's that go out and finance their equip. have problems and end up selling it for half the price. i'm starting with just a 26" so if it doesn't work who cares i'm not losing much money. just my opinion

golfnpreacher
08-21-2009, 09:07 PM
Anyone know what credit score is required to finance a good zero turn mower?

Oh, almost any score can get in financed, it's the percentage rate that will reflect your score. BTW, I would repeat what has been said -- DON'T DO IT.

TSB group
08-22-2009, 01:13 PM
If you can get financing, go for it. Most of what you will find out there in left overs are actually a good deal. Keep in mind, they will not give you a loan if they cannot get out of the machine if they need to take it back. Banks aren't in the business of losing their money.

Try to avoid using any credit for a start up to see if you will make it or not. When I started I was able to get a older Exmark 36" mower with less than 100 hours for $1500, and a 61" Ferris rider with less than 400 hours for $3500. I paid less for 2 machines then you can get a nice left over machine for.

New is nice, but surely cuts into your profits. Afterall, its not a lawn equipment show....its a business.

93Chevy
08-22-2009, 02:05 PM
Responsible financing can be a great way to grow a business. Make sure your debt to asset ratio is low, and manage your cash flow strategically, and you'll be alright.

Bryan B
08-22-2009, 07:04 PM
the problem i see with financing to start your business is at that time your business has no cash flow. so if u dont pick up accts fast your are paying for something that is sitting on a trailer and not making money. then your in the hole to start.

93Chevy
08-22-2009, 08:23 PM
the problem i see with financing to start your business is at that time your business has no cash flow. so if u dont pick up accts fast your are paying for something that is sitting on a trailer and not making money. then your in the hole to start.

If your business has no cash flow, then how can you pay cash?

Bryan B
08-22-2009, 11:08 PM
start with what u have until u are making money. why buy a bunch of expensive equipment when your don't even KNOW how good your business will do? i just prefer to keep cash flow in the positive and not start out 3-4K in the hole and a monthly payment. i have about 500 bucks invested and i have everything i need to get going.(as soon as my flyers and cards get here) if i only get 2 yards all season i'll make that money back. what good will that expensive equipment do u with no yards to cut? and don't forget to send in your monthly payment,which takes from your PROFIT.

i know i'm a rookie and i don't know everything but i have done a TON of reading on this site and learned alot i think most people would agree with me.i had this same thought at first but after reading and thinking about it,i'll do a lil more work and have alot less risk.

grandview (2006)
08-22-2009, 11:12 PM
Either way your taking from your profits to pay for equipment. If you pay cash you still need to make money to pay back the money you fronted to buy your mower. Again there is nothing wrong with financing ,just don't get carried away with it.

93Chevy
08-22-2009, 11:28 PM
start with what u have until u are making money. why buy a bunch of expensive equipment when your don't even KNOW how good your business will do? i just prefer to keep cash flow in the positive and not start out 3-4K in the hole and a monthly payment. i have about 500 bucks invested and i have everything i need to get going.(as soon as my flyers and cards get here) if i only get 2 yards all season i'll make that money back. what good will that expensive equipment do u with no yards to cut? and don't forget to send in your monthly payment,which takes from your PROFIT.

i know i'm a rookie and i don't know everything but i have done a TON of reading on this site and learned alot i think most people would agree with me.i had this same thought at first but after reading and thinking about it,i'll do a lil more work and have alot less risk.

Risk vs. Return. You have to be willing to take risks in order to make money. Responsible financing is an excellent way to grow a business. I had to finance the truck I own now. I could have either paid it cash, and have been absolutely broke for months, or financed it and had the cash sitting around. I pay over my minimum every month, and I still have cash. I could not have grown my business to where it is now without this truck.

Next year, I'm going to finance a bigger mower. I'm running 21" right now. I'm in a rut. I can't afford a bigger mower because I can only spend the time to do 5-6 accounts per week plus my full time job and some other odds and ends. Next year, I'm going to finance a 48." I'm still researching brands, whether I want a ZTR or WB, but that's not the point. The point is that I could not grow my business without a bigger mower, and the only way I can afford a new mower is to finance it.

Bryan B
08-23-2009, 05:14 PM
in your situation i agree with financing a bigger mower,u already have a business that is making some money. i'm not saying financing period is stupid but to finance equipment before u have any use for it IMO is.personally i'm doing just as u did starting with a smaller mower and once it gets going then i'll buy a bigger mower and feel safe doing it. as u said RESPONSIBLE financing.

johnc8407
08-26-2009, 05:27 PM
Its not like I dont have any business. I started with a small mower and I have 7 accounts weekly. I am only looking for a few more since I have a full time job and do this on the side for extra income since my wife is back in school. If I finance a bigger mower, the payment will be around $100 a month. Also, it will take me half the time to do the accounts with a bigger mower so I would have more time with family. It would be in my personal name, plus I need it for my own yard. Just curious what score is needed since my credit isnt all that good. Anyone know the easiest to get appproved? Yard Card or Sheffield or what? Should I apply online or go into a local dealer. What will I have a better chance with?