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Old 02-07-2013, 12:09 PM
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Quote:
Originally Posted by skorum03 View Post
I completely understand your point and what you mean about financing because it can definitely be the way to go, but what about when earlier in the thread he said he only had $2000 for a mower? And I believe he mentioned only having $4000 sitting in the bank? Is he going to have to make a big down payment on that 0% for 48 months? I'm actually asking because I'm 20 years old, new and don't know. It seems to me that if he could find a good deal on a used machine for $1000 it would be the way to go because he wouldn't be blowing that much of his load, but then again it is used and you don't always know what you're going to get. So in that sense, you would think to finance.

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I have done 2 0% deals so far since being in biz and neither required a penny down. The only thing is that you make equal monthly payments which is better bc it keeps you honest and gets you to the payoff without paying deferred interest charges. In th OP case, the financing is great bc he has cash for other purchases like 2 cycle stuff or he can keep it in the bank. Plus, he NEEDS to build his credit and this would be the perfect way to do it.
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