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Old 01-18-2002, 10:38 PM
RON66106 RON66106 is offline
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Location: kcks
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Leasing Equipment?

How many of you have leased equipment to get your business going and did it work well?

















There is a thin line between tough and stupid!!!!!!!!
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Old 01-19-2002, 02:51 AM
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Green Care Green Care is offline
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Location: Maryland
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Didn't lease any, I bought used equipment

That worked for me!!!!!!!!!!
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Old 01-19-2002, 09:24 AM
David Haggerty David Haggerty is offline
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Join Date: Jun 2001
Location: sw Ohio, Wilmington (the wettest place in the state)
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I leased a piece of equipment in '89 to get into the big lawn market. It was $700/mo. for 60 mo.
I got the lease thru Telmark. I bought the mower at the end of the lease.

It was the only option for me at the time. I guess it worked out well because I'm still here.
The interest rate was equivalent to 21%.

Doesn't sound all that great when I write it down.


Dave
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Old 01-19-2002, 09:45 AM
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AltaLawnCare AltaLawnCare is offline
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Join Date: Dec 2000
Location: Altavista, VA Transition Zone 7
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Most leases are basically the same as loans - with a little higher interest. Take the payments you'll have to make and add them all togeather , thats what you'll wind up paying for the equipment. The differences in in tax write off. You can write off all the leases payments over the whole period (2,3 years). If financed, you can write off most of the cost over your current period (accelerated depreciation) but only the interest portion of payments during future periods.

Some leases are set up to pay 6 months per year - called contractors leases - thus a 24 payment lease can be spread over 4 years.
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