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  #61  
Old 02-07-2013, 11:09 AM
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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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  #62  
Old 02-07-2013, 03:00 PM
skorum03 skorum03 is offline
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Originally Posted by Florida Gardener View Post
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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I see what you're saying now. I guess I just assumed that by buying a machine that is probably what maybe 10 grand brand new right now depending on what he's looking at I figured he might have to put something down but if he doesn't, then it totally makes sense to finance it and build his business while not spending all of his money. Thanks for the insight.

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  #63  
Old 02-07-2013, 03:29 PM
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Originally Posted by skorum03 View Post
I see what you're saying now. I guess I just assumed that by buying a machine that is probably what maybe 10 grand brand new right now depending on what he's looking at I figured he might have to put something down but if he doesn't, then it totally makes sense to finance it and build his business while not spending all of his money. Thanks for the insight.

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No problem. Financing, if done right, is a great business tool. Loot at the OP. he said he already had issues with used mower. Now he had to outlay more cash and had immediate downtime....
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  #64  
Old 02-07-2013, 03:35 PM
ztman ztman is online now
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Originally Posted by inzane View Post
my problem with buying used is i am not to terribly great at fixing my own stuff. I have an older exmark i bought 8 weeks ago, i test ran it and it ran fine, i got it home it ran good, cut good... but i noticed on hills it was cutting out a bit, so i took it to the shop.. 1 month later and a 225 dollar repair bill, (picked it up yesterday) and i now have a $1000 piece of scrap metal in my garage that will not start.. lol. I am slowly learning how to fix things on my own, i'm better with tinkering with the 2 cycle stuff, but when it comes to mower engine, not to comfortable just yet.

So.. i've already spent $1225 and i still gotta get this thing running because i got yards to cut next month... totally wishing i would have put 2k down on a new mower now. i could still buy one cash or finance, but i'm to cheap for that now.. i need some financial cushion in case i have a bad first year. looks like i'm gonna be push mowing with the 21".. the repair places in my area are piss poor and seem dishonest, i've been burned many times trying to get equipment fixed, getting my stuff back usually a month later no different than how i brought it in, or in most cases worse. I don't even mind paying the money to get something fixed, if the mechanic would actually fix the problem. it was that way with an aerator i had last year, now with a mower... frustrating.

so yeah, thats why i don't think financing is such a bad idea sometimes..
Have you tried using the mower that wont start as a trade in
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  #65  
Old 02-07-2013, 04:11 PM
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lol, they don't want it. I just went to the gravely dealer this morning. i can get a 36" floating deck, belt driven new for 3199 0% for 3 years. i would put 1500 down. would probally be around 50 a month i guess.. i could pay it off in a year.. but makes me sick i almost got 1500 into a used machine. I brought it back to the shop, and they are looking it over.. It may be something simple... I'm hoping to get one season out of this used machine, and then get a new one for next season if all is still going well.

If i could go back in time about 8 weeks, i would have went and financed the new gravely without hesitation! (like my wife tried to talk me into)

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Have you tried using the mower that wont start as a trade in
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  #66  
Old 02-07-2013, 04:29 PM
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dstifel dstifel is online now
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Wise man told me once that millionaires rarely buy BRAND new cars and they are millionaires because they are very smart. I know new cars are different then a machine you rely on to make you money day in and day out but every time i want to go finance a shiny new machine i keep that in the back of my head and it really helps me double check myself to make sure i really need what I'm buying. just a thought.
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  #67  
Old 02-07-2013, 05:07 PM
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inzane inzane is online now
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i hear ya there, but a wise man once told me that grass don't get cut with a lawn mower that won't start.



Quote:
Originally Posted by dstifel View Post
Wise man told me once that millionaires rarely buy BRAND new cars and they are millionaires because they are very smart. I know new cars are different then a machine you rely on to make you money day in and day out but every time i want to go finance a shiny new machine i keep that in the back of my head and it really helps me double check myself to make sure i really need what I'm buying. just a thought.
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  #68  
Old 02-07-2013, 05:25 PM
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Originally Posted by dstifel View Post
Wise man told me once that millionaires rarely buy BRAND new cars and they are millionaires because they are very smart. I know new cars are different then a machine you rely on to make you money day in and day out but every time i want to go finance a shiny new machine i keep that in the back of my head and it really helps me double check myself to make sure i really need what I'm buying. just a thought.
Yea, true, but he needs a reliable machine. It's a need. People that buy cars and roll negative equity all the time obviously don't know how to manage money that well.
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  #69  
Old 02-07-2013, 05:58 PM
larryinalabama larryinalabama is online now
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Originally Posted by inzane View Post
i hear ya there, but a wise man once told me that grass don't get cut with a lawn mower that won't start.
Thats funny, but having a payment doesant automatically mean a lawnmower wont break.
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  #70  
Old 02-07-2013, 06:05 PM
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inzane inzane is online now
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yeah, i know.. but the my odds may be better. but honestly, my luck is bad, i will probally end up with the new machine that breaks on the 2nd day of using it.

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Thats funny, but having a payment doesant automatically mean a lawnmower wont break.
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