What do you pay a month??

[McFarland_Lawn_Care]

Business borrowing money can be a smart choice or a bad choice depending on MANY variables and factors. While I respect the old fashioned "cash for everything" idea (and I do prefer it myself), it is often necessary for businesses to borrow capital in order to take advantage of growth opportunities etc. Have a FIRM understanding and handle on your finances, know your balance sheet, cash flows, and other financial statements and then make a wise decision. I have financed a few items before. Interest is just an expense just like fuel, insurance etc. Often the returns from financing a needed piece of equipment far exceed the cost of interest or the cost of not having it at all. The true question is whether it is needed or not. It is true that too many people hurry to get new equipment and fancy "toys" and take out loans when the work does not justify it, or there is no increased productivity from it all.

[ryan41]

I need a bigger, commercial built machine that will do a nice job and last a while. I grew a lot this year, so next year i would like to get rid of my paid off residential mower and get a commercial mower so i will get the job done faster & leave a nicer cut. Right now i do not have a lot of over head (gas, storage unit, cell phone bill, insurance etc..) I live at home so i don't have the huge expenses of renting or owning a home right now.

[slowleak1]

Originally Posted by ryan41

I need a bigger, commercial built machine that will do a nice job and last a while. I grew a lot this year, so next year i would like to get rid of my paid off residential mower and get a commercial mower so i will get the job done faster & leave a nicer cut. Right now i do not have a lot of over head (gas, storage unit, cell phone bill, insurance etc..) I live at home so i don't have the huge expenses of renting or owning a home right now.

Getting rid of something that you owe nothing on is not the thing to do IMO. That machine would serve great as a backup for the newer one if you were to purchase it. Not to mention the financial loss you would take by trading it. You should weigh all of your options, especially when making a big purchase.

[Jbh0724]

I love reading comments from people who do not know what they are talking about. Why would I pay 10k cash for a mower that I can finance for 0%, when I can take the 10k and invest for a modest 6% return. I have a gain on interest. Finance when the rate is lower than your return from your investment elsewhere.
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[heather lawn sp]

$1,743 a month. Ending in 2014 and 2015

[Florida Gardener]

Originally Posted by Jbh0724

I love reading comments from people who do not know what they are talking about. Why would I pay 10k cash for a mower that I can finance for 0%, when I can take the 10k and invest for a modest 6% return. I have a gain on interest. Finance when the rate is lower than your return from your investment elsewhere.
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Wow, someone who understands finance, money, interest, etc. this is exactly what I'm talking about. Most commercial mower companies are practically giving away machines with 3-4 years 0% interest. Even Ferris had 0% for 50 months recently.
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[Florida Gardener]

Originally Posted by Jbh0724

I love reading comments from people who do not know what they are talking about. Why would I pay 10k cash for a mower that I can finance for 0%, when I can take the 10k and invest for a modest 6% return. I have a gain on interest. Finance when the rate is lower than your return from your investment elsewhere.
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Or, pay off interest bearing loans faster, like a mortgage.
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[muddywater]

Originally Posted by Jbh0724

I love reading comments from people who do not know what they are talking about. Why would I pay 10k cash for a mower that I can finance for 0%, when I can take the 10k and invest for a modest 6% return. I have a gain on interest. Finance when the rate is lower than your return from your investment elsewhere.
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You finance bc you dont have the money. People that have money dont finance a freakin 10k expense.

I understand some people need to finance when they get started, but to have mower payments after you are established is crazy. I bought 75k worth of equipment in the last month for some new crews and services, and i saved at least 25k by paying cash. Some of it was used, and some of it was new.

0% is bull. You pay extra on the mower or whatever. You cant get fleet pricing for 0%. My buddy owns a car dealership, and there is a 0% price and a cash price when he was trying to sell me a new denali for my wife( ended up buying a 4 year old one w 20k miles for half a new one)