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  #11  
Old 02-18-2008, 01:42 PM
topsites topsites is offline
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The only way I've heard of this being done is there exist two companies under the same corporation and one company leases to the other... I'm not sure exactly how it works but your accountant can likely tell you more.
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  #12  
Old 02-18-2008, 03:59 PM
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MJB MJB is online now
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Originally Posted by MJB View Post
I've never done it any other way. I lease my mowers and make 7 payments per yr per my growing season. No winter payments. At the end of the lease I pay $1 and it's mine. The reason I liked this was because I don't have work
Nov - March and don't like the payments during these down months. Plus it's a total write off. Now you may be able to finance through your bank this type of loan, don't know.

Advance Leasing is the one I use.

I would never lease a vehicle for any reason, but works great for mowers.
Correction .... "Advance Acceptance" Look them up on the net.
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  #13  
Old 04-09-2008, 09:24 AM
NJemerald NJemerald is offline
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Question for those of you who have leased mowers...
If you need to have the mower repaired for some reason while under lease... Do you need to take to to the place you leased/bought it from or will any local dealer/repair shop be able to work on it?

Thanks,
NJemerald
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  #14  
Old 04-09-2008, 09:46 AM
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MJB MJB is online now
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Quote:
Originally Posted by NJemerald View Post
Question for those of you who have leased mowers...
If you need to have the mower repaired for some reason while under lease... Do you need to take to to the place you leased/bought it from or will any local dealer/repair shop be able to work on it?

Thanks,
NJemerald
I would ask the dealer you lease it from. But in my case I have always took it back to the dealer I purchased it from, or any other dealer that carries that line of equipment. I've always bought from dealers that have a service dept too. In some cases like my Exmark dealer stopped carrying Exmark and I had to find the new dealer that carried them. Really it's no different than when you purchase it outright.
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2013 Exmark Pioneer S 60" Ultracut (Review with pics) http://www.lawnsite.com/showthread.php?t=410996

2010 Badboy Outlaw 6100 31 KAWI

2008 Exmark Lazer Z AS 60" U/C 28 Kawi

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  #15  
Old 04-09-2008, 10:21 AM
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jaybird24 jaybird24 is offline
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Like MJB we have leased mowers with the $1 buyout after 24 or 36 months. I can't remember the company, but our dealer set us up so ask ask your dealer. It worked out well, the payments were actually lower than financing plus the $1 buyout. The straight write off was nice too.
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  #16  
Old 04-09-2008, 11:31 AM
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DLCS DLCS is offline
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Many advantages to leasing, talk to your accountant. Lease payments are 100% write off. Leasing agreements do not show up on your credit report. Lease payments can be lower than financing. Most leases you don't have to give it back in the end of the agreement, basically you lease to own but are able to write off the entire lease payment. You can elect to skip like 3 payments a year during your slow times but you do end up making those payments in the end. You just defer them. You can lease anything that you want. Advance Acceptance is one company that i have used before but don't recomend them. They more than once "lost" my payment. Try going through the equipment manufacturer first, like john Deere credit or you can go through a 3rd party like Sheffield. I believe Gravely/ Ariens has their own too.
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  #17  
Old 04-09-2008, 03:10 PM
bullethead bullethead is offline
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If leasing works better for you from a cashflow perspective, then pursue it.

If you are worried about "write-offs" I am willing to bet this is a silly consideration for most people on here. Look up Section 179 deductions, part of your depreciation schedule Form 4562, - basically you can write-off up to $125,000 of your annual equipment purchases if you have the income to offset it. You don't have to schedule it and depreciate it.
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