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mbean408
11-01-2010, 04:45 PM
hi everybody, im matt, 18, and im running 30 mowing accounts and 25 annual maintenance accounts. im getting to the point where i dont know if i can rely on my 10+ yr old wb's. although they look, run, and operate flawlessly, im starting to become weary that one day, when i have alot stacked against me, one may break down and leave me stranded. i need piece of mind so i would like to purchase a brand new hydro wb 48", toro, exmark, grandstand, something of that nature.

Can someone please let me know about how much id be paying per month for equipment like this?

i have already established pretty good credit so far, so getting it financed isnt going to be a problem, i just think that if payments are under $200 it'd be worth the piece of mind and reliability, especially with just enough time to run my business with college

Thanks for any responses, im trying to grow a little bit more and i dont want my business to bury me alive due too older equipment.

madisonpressurewashing
11-01-2010, 04:49 PM
I would save my money and look for a sale this winter

G. Ramey
11-01-2010, 04:54 PM
You can find payment estimators online. Just decide what you want and how much it will cost you. Then find out what your interest rate will be. You can apply at your bank or credit union or Sheffield or Yardcard or who ever you want to use. They will tell you what rate you would be getting.

fl-landscapes
11-01-2010, 04:55 PM
sounds like you have enough business to justify the purchase. The finance charges are 100% write off on your taxes as well.

OrganicsMaine
11-01-2010, 04:57 PM
I agree with that. Save your money....have a rainy day fund set aside for your business so that if something does go wrong with one of your mowers, you will have it financially covered. Hopefully you have a good relationship with your dealer. Wbs are pretty basic, especially if they are belt driven. worst thing that can happen is the motor blows, and that is probably a 2-3 hour fix max, if your dealer has the motor in stock, and you are good at the mechanics, then you will only lose about a half day. Plan for it and it won't even be that bad, find a new engine on sale, and keep it at your shop, then all you will need to do is swap it out.

Doing this part time, I just wouldn't recommend payments. Milk those machines as long as you can.

JMO! Good luck.

Richard Martin
11-01-2010, 05:28 PM
Around $5500 should run you just under $200 a month on a 36 month term. Maybe as low as $170. Great credit is priceless.

Fleur De Lawn
11-01-2010, 05:37 PM
buy a zero turn rider. They cost about the same price.

mbean408
11-01-2010, 06:22 PM
i agree with what you guys are suggesting, i was just weighing other options for next year, my only problem with these mowers is hills, theyre horrible and it takes a lot of manhandling
to keep them under control. i despise the dayswhere i haveto cut my hilly accounts, but i can always get by if itll save me a lot of money in the long run
thanks alot for the responses!
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AI Inc
11-01-2010, 06:25 PM
Up the price on the hillys, you will not hate them so much.

CLARK LAWN
11-01-2010, 06:29 PM
buy a zero turn rider. They cost about the same price.

ya if you multiply the cost by 2

mbean408
11-01-2010, 09:23 PM
oh yes, i get the price i want for the hillys, but sometimes WHILE cutting the yard, i feel as if i should find 2 quick small yards to replace each hilly yard :laugh:. I simply dont trust the belt drivens anymore, it seems as if one day they'll motor up hills with no problems, then the next day it'll take a s*** right in the middle of the hill:dizzy:. I mean, i havent checked into it yet, but maybe i can sell one, keep the other for backup and pick up a trade in vantage/grandstand/tracer that may be still under warranty? 30 accounts, being a full time student in college and having '96 and '99 gear driven wb's, i think it may time for a nice little upgrade. the replys are great so far, keep em coming!

mbean408
11-01-2010, 09:24 PM
sounds like you have enough business to justify the purchase. The finance charges are 100% write off on your taxes as well.

i like hearing that!:cool2:

mbean408
11-01-2010, 09:28 PM
oh and to mention im getting sick of ressurecting old mowers and constantly discovering the previous owners improper maintenance, although its fun and quite enjoyable, sometimes i wonder why i spend nights till 1-2 a.m. making sure everything is in proper running condition for the next day, always fixing and replacing things daily.(its a good thing i have a donor mower :laugh:Thumbs Up)

StihlBR600
11-01-2010, 09:33 PM
Hi im 18 as well and ive already owned and made payments on to brand new zero turns. I payed $5,800 for my toro brand new off the showroom floor. My monthly payment is $150 which is not bad at all. I put $1,000 down so the total loan was for $5,100.

93Chevy
11-01-2010, 09:34 PM
Buy a new mower, you can afford it, from how it sounds.

I'm paying 5k over 5 years at 3.8% under $100 per month. I pay usually $200, but when winter comes, I'll be glad I have lower payments.

mbean408
11-01-2010, 09:37 PM
Hi im 18 as well and ive already owned and made payments on to brand new zero turns. I payed $5,800 for my toro brand new off the showroom floor. My monthly payment is $150 which is not bad at all. I put $1,000 down so the total loan was for $5,100.

lol this is the answer i was looking for! $150 is definately a do-able, and $150 is about equal to my phone bill:laugh:. correct me if im wrong but $150 is a small ratio to what you can potentially make with that mower

mbean408
11-01-2010, 09:43 PM
Buy a new mower, you can afford it, from how it sounds.

I'm paying 5k over 5 years at 3.8% under $100 per month. I pay usually $200, but when winter comes, I'll be glad I have lower payments.

does a longer yr loan such as 5 years make it harder to get the loan? and i heard a rumor that through exmark you only pay during mowing season, no payments during winter?

93Chevy
11-01-2010, 09:46 PM
does a longer yr loan such as 5 years make it harder to get the loan? and i heard a rumor that through exmark you only pay during mowing season, no payments during winter?

Honestly, I have no idea about how hard it is get a loan based on length. I needed a co-signer, but it's not a big deal if you know you're going to be able to make the payments.

And I don't know anything about exmark financing, I pay, well, I'm required to pay $93 per month, every month. My financing is through Yard Card.

mbean408
11-01-2010, 09:56 PM
Honestly, I have no idea about how hard it is get a loan based on length. I needed a co-signer, but it's not a big deal if you know you're going to be able to make the payments.

And I don't know anything about exmark financing, I pay, well, I'm required to pay $93 per month, every month. My financing is through Yard Card.

Yea my truck had to be cosigned because i bought that a few monthes ago, but i always pay double if not triple my payment so that i get that out of the way asap

mbean408
11-01-2010, 10:06 PM
what part of pittsburgh are you located in? im from elizabeth

93Chevy
11-01-2010, 10:07 PM
I'm north in Cranberry/Mars in southern Butler county :waving:

mbean408
11-01-2010, 10:15 PM
niceThumbs Up, i saw the snapper in your thread and im like "damnn i thought i was the only person in PA who uses these mowers":laugh: i've your guys have a "rain belt" up there that gives you like 2x more rain than the pittsburgh area, and cranberry from what i remember has some nice "built up" areas which are probably key

93Chevy
11-01-2010, 10:20 PM
niceThumbs Up, i saw the snapper in your thread and im like "damnn i thought i was the only person in PA who uses these mowers":laugh: i've your guys have a "rain belt" up there that gives you like 2x more rain than the pittsburgh area, and cranberry from what i remember has some nice "built up" areas which are probably key

LOL, the rain belt is about 200 feet north and 200 feet south of us. We always get the veritable shaft when it comes to rain.

The local chapter of the Small Business Administration told me that Cranberry is the fastest growing area in the U.S.

I'm sure that will have a downside in the future.

mbean408
11-01-2010, 10:27 PM
LOL, the rain belt is about 200 feet north and 200 feet south of us. We always get the veritable shaft when it comes to rain.

The local chapter of the Small Business Administration told me that Cranberry is the fastest growing area in the U.S.

I'm sure that will have a downside in the future.

Ha yea man, but thats all gonna occur anywhere within 20 miles of pittsburgh, stay here, make some cash, the retire out in the sticks:laugh: then again that wont be till we're about 70 the way things are going. but yea my area got screwed out of september, there was a gap of no cutting from mid august to late september, everythings all outta :laugh:

Richard Martin
11-02-2010, 03:46 AM
does a longer yr loan such as 5 years make it harder to get the loan? and i heard a rumor that through exmark you only pay during mowing season, no payments during winter?

What taking out a 5 year loan on such a small amount does is tie up that potion of your credit for 5 years instead of 3. You may find you want to use that credit to make more purchases in the future but if part of your credit is tied up for 5 years...

Addtionally, if you have to look for a partial pay program to get you through the winter then you shouldn't be financing. Interest keeps accumulating whether you're paying or not. This is not a smart move. Wait a year or two until you have the income to make continuous payments.

gasracer
11-02-2010, 07:16 PM
I would find something Hydro during the winter to buy. If you hate doing your "Hilly" yards either price it different or find one you like to replace it. Dreading a yard doesn't make for a good day. I have a couple that I hope the crazy neighbors are not home when I show up,even the homeowner hates them.
You have to plan ahead knowing you have to make payments in the off season. Try to have it paid off by the next one.

MarcSmith
11-02-2010, 07:41 PM
keep in mind the shorter the term the better the interest rate...Also keep in mind with 2 mowers you currently have one of them could be sold for a significant down payment..

but honestly if what you have runs perfect and starts every time. then I'd keep running. spend a few hundred this winter and rebuild the carb, pop the valve covers, clean out any sludge, drain and clean the fuel tank, new belts, hoses, maybe rebuild the spindles. and some fresh krylon..

mbean408
11-02-2010, 11:53 PM
you have any tips for adjusting gear drivens? it seems like every couple of days the mower needs readjusted or it'll barely move itself, ive tried everything from belts to springs:dizzy:

MarcSmith
11-03-2010, 07:42 AM
honestly never had a belt driven WB....if its slipping in all gears then belts and springs would have been my first thing to check. what do the pullys look like. maybe roughing them up may help... did you check the belt and pulley that drives the transmission... it may be slipping..

if its justone gear, maybe you got a rebuild in the future ont he tranny...

STL Cuts
11-03-2010, 01:21 PM
hi everybody, im matt, 18, and im running 30 mowing accounts and 25 annual maintenance accounts. im getting to the point where i dont know if i can rely on my 10+ yr old wb's. although they look, run, and operate flawlessly, im starting to become weary that one day, when i have alot stacked against me, one may break down and leave me stranded. i need piece of mind so i would like to purchase a brand new hydro wb 48", toro, exmark, grandstand, something of that nature.

Can someone please let me know about how much id be paying per month for equipment like this?

i have already established pretty good credit so far, so getting it financed isnt going to be a problem, i just think that if payments are under $200 it'd be worth the piece of mind and reliability, especially with just enough time to run my business with college

Thanks for any responses, im trying to grow a little bit more and i dont want my business to bury me alive due too older equipment.



A couple of things come to mind...

1) If I were you, I would just wait and pick up somebodys near new w/b for half price or so in the winter (the deals are out there, just keep your eyes open).

2) If you don't got the cash to buy it straight up, I wouldn't even consider it (against JMO for something like a lawn business).

3) You mention you're in college. Not saying you do, but most people in college (particularly those at 4 year universities) take out student loans to pay for school. Now if you get a 5 year, even a 3 year loan, just realize that in 3 or 5 years you will (should) be graduating from college and your student loans will start to kick in... you will now have student loans, mower loans, and hopefully no other loans (truck, credit card, etc. Not saying you will, just something you should consider) to worry about paying for. Now do you really want to have to deal with payments on something like a mower for all those years?

4) Now this is really thinking ahead, but if you think you will be buying a home within the next 3-5 years (or whatever year term you choose), by having a mower payment it will add to your monthly payments which lenders look at, which will, not to a very large extent, decrease the amount of money they will loan to you. Now if you're one of those people that finances a truck and other things, you won't be able to get near as much as those with no payments.

IMO, it's just not worth it to buy a mower new, but it is your decision (full time companies are the usual exception to the rule though).

LewisLawn
11-03-2010, 02:39 PM
my 2cents is (1) you can do it financially with the number of accounts you say you have if they are priced within market value. (2) If you consider how much more you can cut in the same amount of time on a ZTR you could easily pick up another 4 or 5 yards to pay for the mower within the season. I started out like you with a belt drive walkbehind but now run it with the ZTR, I ride daily and my co-worker has the walkbehind when he chooses to work. couldn't keep my productivity level where it is at without the rider, but if my co-worker was to quit i could get rid of the walkbehind and keep production levels the same. This may vary for you if all your properties are small residential but i have lawns that range from cut times of 7 minutes to over 4 hrs not counting trim and blow off. Obviously the ZTR lets me cut the larger properties in much less time but not as much time saving on one small yard but the timed saved would be nearly proportional over a group of small lawns minus the drive time between them

joallen001
11-06-2010, 05:42 PM
My advice is not to financefor a mower. If your maintaing that many properties you should have enough set aside to pay cash. Always try to pay your equipment just like you would an employee. Then when its time to buy a new mower or a used mower you can pay cash. If you buy used from an individual cash money can get you a great deal on a like new mower.