View Full Version : Struggling with Z purchase $$$

09-19-2002, 11:26 PM
After much debate, I've decided to bite the bullet and get a Z next year. I am a little leary because my area is hilly, but I will just have to get used to it. I can get some good end of year deals, but it's still a lot of cash for one of these machines. I've been trying to save some $$ this summer to buy one, but the drought had other plans for me! I hate to finance one and have another monthly payment to deal with, but I don't have much choice. What did you guys do? :confused:

Randy Scott
09-19-2002, 11:31 PM
I don't know what brand you are looking at but eXmark has buy now and no payments until April 2003 and interest starts at March 2003. You can have a machine now and not pay until the season begins. Check out their website, click their banner above. Their is a finance calculator right on their website to show you payment options and numbers with what plan you would prefer with the Sheffield company. Their good people to work with.

LB Landscaping
09-19-2002, 11:44 PM
I got my Walker 20 hp about 4 months ago. Yup it sure was expensive but it was definatly worth the price. I saved up enough cash to pay for half of it and financed the rest. I don't like to finance things either but sometimes it can't be helped. The increase in productivity the walker has given me has increased my earnings. I have been able to pick up a few more accounts because I can do each job much quicker. You know what they say you have to spend money to make money. Good Luck!!!

09-19-2002, 11:45 PM
I am going to take a stab here and say that is Scheffield Finacial.

That's some good terms, and would definitly reccomend the Exmarks the spot.

The Mowerdude
09-20-2002, 12:07 AM
Shefield is offering the deal that you mentioned.

When I first went into the lawn biz, I financed through Sheffield. The only reason they're offering this deal right now is that winter is coming. But in the spring, they offer the other deal. It doesn't sound as good but for many of the guys starting out, it's actually better. The spring deal is that you can have the mower with no payment for 3 months and no interest for 2.

One thing that Sheffield does though, and you really kinda need to read the fine print. These are good deals IF you can make enough money fast enough, to pay them off. If you can't, you're in business with them for the life of the loan. If, at a later date, you find yourself in a position to pay off what you think will be about what the mower is worth, guess again. As soon as the interest month arrives at the beginning of the loan, Sheffield tacks every last penny and there is no reduced rate for early payoff. You will go for several years paying only on the interest and virtually nothing on principle.

And finally, if you get behind on your notes, the penalties are outfrickingrageous! And they start their telephone tactics the very first day of your being in arrears. Also, if you get behind, they offer to roll payments over and extend the loan. But that means more notes at the end, with higher interest and more months where you're paying nothing on principle.

If you deal with Sheffield, simply make a huge commitment to doing one of 2 things. Either beat the deal by lining up enough work to pay the mower off by the time the initial "free" period is up, or NEVER EVER miss a payment.

Hoss. That was good, "Exmarks the spot.":D

09-20-2002, 01:01 AM
Originally posted by The Mowerdude
Hoss. That was good, "Exmarks the spot.":D

That would be LAWNGODFATHER not 65Hoss.

I have finaced with them and picked my own terms they agreed to.

No payment for Jan, Feb, March for 3 years.

Read the fine print always when you sign a contract.

King Commercial Credit is a lease place, they have much better terms than Sheffeild.

Turtle II
09-20-2002, 01:04 AM

It is kinda hilly up there isn't it... I use cross over into southern PA from western MD.

I belive you will love a ZTR. The hills actually make it interesting and keep you on your toes.

I have been on a three month "grounds maintenance" detail, from Jul-Sep, on a small AFB in eastern NC. The best Z we have is a Hustler with a 72" deck & the Kohler engine. 25hp I think. I never rode one till this past Jul, and I have cut on 50 to 60 foot long embankements that are banked like nascar tracks. At first I keep wondering if it was going to flip or roll, but those machineis are great.

I hear several people refere to the exmark or "Z" brand on this form. They seem to be very popular as far as here and I'm sure there just as good if not better, if it was based on a popularity poll here I imagine the eXmark would win.

But I belive you will enjoy a "ZTR".
That jumbo hustler is one "bad indurstial machine"

Good luck,
PS---One piece of sound advice I always see here is to try several brands out for your self............

Turtle II
eastern, NC

studing to start part-timming

09-20-2002, 03:01 AM
I always wait until I have the money to buy items without financing. I think this is really important when starting out.

If it cant be done then it cant be done, so be it. One thing I also did/do is wait until I MUST have the equipment before buying it. For example: I bought my hedge trimmers after I already scheduled my first trimming job, and I bought my ZTR after I took on too many properties than I could handle in a day. Over time I have obtained the tools I need, and there is no second guessing my purchases.

09-20-2002, 05:27 AM
hoss is a way of addressing a man,
here in the south.kinda a respectful way of addressing a blue collar[most times]
man who aint scared of a little work.:)

09-20-2002, 08:24 AM

Some more opinions;

1. They are right. Sheffield is the driving force behind these offers. most if not all manufacturers have this deal now.

2. If you look @ loan payments they are all almost all interest in the early months/years. Check out you mortgage.

3. Yes, you'd better live up to what your contract says or any lender will tend to get concerned quickly and nasty before too long.

4. If you can get your mower now and do more/make more you'll have more $ to put toward the mower when the payments start. Even if you take till next june or july to get it fully paid, you'll end up with a good deal.

5. Yes, W Pa hills are a concern. most Z's do reasonably well.

6. I know Excel Hustler and Dixie Chopper both have the same financing program in place and both lines Z's are awesome on hills. And, the larger the deck the better they do.

7. If you want to arrange demo's of Excel or Dixie, let me know @ 724-339-7790 or 724-321-8489 evens/weekends. I know there are some demo's avail w full factory warranty which sweetens the deals. Also, check out www.saxonturf.com

8. If you're looking for alternate financing, try checking out Vic Tatum @ Kensington Capital. He's local and been a good guy to deal with. They're independent and privately owned. Look him up @ www.kensingtoncapitalcorporation.com

9. As with anything, check out several and see which you like better and which work for you.

10. Good Luck and happy mowing.

Scott H

09-20-2002, 09:16 AM
I think Sheffield is a little on the questionable side. That 9.8% for 48 months turned into 17% for 36 months. They didn't want a down payment. I really don't care because I will pay it off in March, when the interest starts. Be advised your first payment is April 2003, but interwest starts in March 2003. BTW. I have excellant credit, own a house and have very little debt. Anybody else get jammed with a higher interwest rate?

09-20-2002, 09:49 AM
I agree with Jimbo. I don't extend myself financially and purchase something based on a plan to generate more income. We used to refer to this as making a committment "on the come". But if it didn't "come", you're in deep do-do. Hey, things happen; drought, injury, illness. Have the income or money set aside first, or at least a large part of what is needed. These finance companies are cold and will bleed the life right out of you. Keep in mind the ad on TV that has the monkeys living high on your credit card interest, there is alot of truth (unintended I'm sure) there. JD

09-20-2002, 10:00 AM
Originally posted by The Mowerdude
Hoss. That was good, "Exmarks the spot."

That would be LAWNGODFATHER not 65Hoss.

:dizzy: :p :D :D :D

Me? Never again unless I have a monster contract signed will I buy anything with credit. Cash only. If you haven't saved up enough, then wait and get it in the spring. You need to be closer to a time you can make money with it, not sitting most of the winter. If you decide to get it now, put down as much as possible. When your paying interest your paying with profits!

09-20-2002, 10:28 AM
I put 10% down on my Tiger Cub and have a 3 year loan at the local bank for 7.8%, to me that makes more sense than getting involved with Sheffield and their "schemes"..

09-21-2002, 12:07 AM
Check wth your dealer about a Lease. Here you can lease a mower and after three years buy it for about a buck. Lease is a great tax relief.

09-21-2002, 12:23 AM
My Local Bank has always had the best deal, and between my local dealer and the bank - I have always had the best deal:

1. My local dealer may charge a little more for the piece of equipment, but he has to make money too - Am I going to charge what I think my services are worth then try to dicker him into a no make money deal?
2. When I buy the equipment for a price he offers and can live with - guess what - my service is immediate. - Have noticed that those that beat the hell out of the dealer on original price, may have a mower in line ahead of me to get fixed, but JUST somehow, my mower gets moved up in the order and is attended to very rapidly, - the price oriented and beat the dealer down people do not get that kind of service - How much is that kind of service worth

3. Back to the sheffield deal - Local people will take better care of you that someone off somewhere that just deal with paper - They really do not give a darn what your situation is - They want to make money-money-money - and they will do just that - and your situation may say I need a month reprieve, but they will nail you.

If you can deal with your own local people, in my opinion you will be better off - Do Check the Fine Print.

Thanks, Brad

09-21-2002, 01:13 AM
Interest rates keep dropping, your local banks will probably have the best deal over a longer term. Financed half of my new toro Z for 4.9% locally. One $40 weekly yard makes my payment ($160) Because of the time I have saved with the ZTR over my WB I've taken on several more yards which made it well worth buying now instead of waiting till next year. JMHO Marc

09-21-2002, 01:27 AM
Originally posted by LB Landscaping
The increase in productivity the walker has given me has increased my earnings. I have been able to pick up a few more accounts because I can do each job much quicker.

Does this mean you are able to pay the new machine off early with the increased revenue?

Darryl G
09-21-2002, 02:47 AM
I usually only buy only with cash, but I did just take advantage of a new 0 APR for 6 months credit card offer to buy about $4,500 of equipment. I mangaged to pay it off in time without any interest, so it worked out well.

The great thing is that I personally could have paid cash for it all (but my business couldn't afford it). Instead of me lending the business money and paying cash, I borrowed the money from Fleet Bank and got to earn interest on my money (at Fleet Bank)bank for 6 months. They lost.

Tony Harrell
09-21-2002, 09:16 AM
Finance companies are usually looser with the credit than a bank. They don't use simple interest for loan calculations. They usually use something called "rule of 78s", basically they figure the life of the loan and add the interest. It won't matter if you pay it off in 3 months or 3 years, you pay the same amount. Been there, done that.