Thread: Loans?
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Old 10-22-2012, 07:31 PM
CL&T CL&T is offline
LawnSite Senior Member
Join Date: May 2011
Location: New York
Posts: 493
Originally Posted by larryinalabama View Post
If you go finance all new equiptment and dont make the payments, the bank will take it back and sell it for 1/3 of what you paid for it adn sue you for the rest of the balance on the loan plus a whole lot of fees and they will WIN THE LAWSUITE. No one but the signer on a loan is taking a risk, you will pay the money back one way or another. If you think you can screw over banks I can assure you that they have the "courts" on their side and have far better lawyers than you can get.

On the other hand if you pay cash on equiptment thats a good deal if you have too sell it you can make money!
What an idiot!
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