Originally Posted by Vr6Mark
Thanks guys for the insight from different angles of how I may be looking at this. I do agree it may be a better idea to keep more money in my pocket and just set up an auto pay on my debit card but I'm the type of person who likes to get things paid off as soon as possible and have his little debt as possible. My current machine is 48 inch Husqvarna walk behind that is 10 years old. It's in great shape has zero Rust and looks brand-new was very well maintained religiously, and has only about 750 hours on iit which means it will have a pretty high resale value in my opinion. I am interested in purchasing a husqvarna PT – Z to replace the smaller walk behind to increase my productivity. I work solo still but occasionally hire a helper when I have large projects for custumes. I need something more efficient to mow lawns with since my customer list is getting large. Thank you for all your help and insight guys!
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That's great if this statement is costing you money, but extremely poor business sense when using a lenders money free of charge. My dealer and I talked about this, he told me some of his customers could not stand the thought of owing money, they like to pay for what they bought. I told him that made absolutely no sense whatsoever if using a lenders money free of charge, and besides that, you are hurting your credit rating. There is no better way to build good credit than to make payments free of interest set up on an automatic debit. This guarantees you will never be late with a payment, which in reality will lower your credit rating if ever late.
Buying a machine with 0% and making timely payments is one of the fastest ways a young person can build a good credit rating, and believe me, a strong credit rating will carry a great deal of weight when transacting any business throughout life.