Thread: Loans?
View Single Post
  #11  
Old 10-24-2012, 06:02 PM
MDLawn MDLawn is offline
LawnSite Bronze Member
 
Join Date: Jun 2008
Location: Western NY
Posts: 1,284
Quote:
Originally Posted by grandview (2006) View Post
So in a nutshell,people who pay cash their business will survive and people who use credit will not?
This is what they think.

For you cash only guys, every guy using credit/finance/whatever you like to call it agrees not to finance every single little thing. Most would agree that is just plain dumb. I'd feel confident that a lot of the finance guys pay cash on many items. Or pay them off in a much shorter period than the full term loan.

Quote:
Originally Posted by grandview (2006) View Post
Maybe,but I know few who had daddy finance all their toys to start their business.
I know I love seeing this stuff too. Many 18-20 year olds with zero job experience/credit can't walk into Ford, the trailer dealer, & equipment dealer and get approved to finance everything alone. A, they'd probably need a co-signer, which would be dad or mom, or B, mom and dad finance it for them. I can't imagine an 18 year old getting approved on a $45,000 crew cab diesel truck on their own. Or if they can, is it even a reasonable rate?
Reply With Quote
 
Page generated in 0.03885 seconds with 7 queries