Register free!
Search
 
     

The Green Industry's Resource Center


Click for Weather
Reply
 
Thread Tools Display Modes
  #1  
Old 03-02-2009, 10:46 AM
Btomlin Btomlin is offline
LawnSite Member
 
Join Date: Mar 2009
Location: Jackson, Tn
Posts: 2
low credit score...NEED LAWN MOWER

does anyone have any advice on how to purchase a commercial mower with a low credit score. i have a fulltime job but cut grass on the side. i need a new mower, but don't have good enough credit to get finianced at the dealer. i have enough yards to clear $2000.00 per month easy, but i don't have any proof of that income. any suggestions?
Reply With Quote
  #2  
Old 03-02-2009, 10:58 AM
Fox Landscape Services Fox Landscape Services is offline
LawnSite Member
 
Join Date: Jan 2006
Location: Arkansas
Posts: 77
Mow with the one you have, save the 2 grand and you will soon have enough to at least buy a used one.
Reply With Quote
  #3  
Old 03-02-2009, 11:00 AM
allfiremencutgrass allfiremencutgrass is offline
LawnSite Member
 
Join Date: Apr 2008
Location: Va Beach Va
Posts: 32
Well I would either try to get a cosigner to help you or buy a good used mower w/ cash. I did the latter and it has worked out well for me. 2K a month can in my opinion be done w a good used commercial grade mower..good luck
Reply With Quote
  #4  
Old 03-02-2009, 02:22 PM
KeystoneLawn&Landscaping's Avatar
KeystoneLawn&Landscaping KeystoneLawn&Landscaping is offline
LawnSite Senior Member
 
Join Date: Jan 2006
Location: Erie, PA
Posts: 774
Two words....USED & CASH...its that simple!
__________________
99 Silverado 4x4
2007 Silverado 2500HD 4x4
2005 Cargo King 7'x16' enclosed
Blizzard 860HD
7 1/2 ft Western Plow
Toro 7/24 snowblower
2 Toro CCR 2450 snowblowers
48" Allis Chalmers
48" Ferris WB
36" Exmark Viking
21" Toro
21" Poulan Pro
2- Echo PB755H
Echo & Ryobi trimmers
Echo PAS 265 & attachments
Stihl & Poulan chain saws
Stihl BP blower
Stihl FS-56RC-E Trimmer
Billy Goat 16hp HTR Loader
Pesticide License BU0426
A Positive Outlook
Reply With Quote
  #5  
Old 03-02-2009, 02:54 PM
nosparkplugs's Avatar
nosparkplugs nosparkplugs is offline
LawnSite Gold Member
 
Join Date: Mar 2007
Location: Memphis, TN
Posts: 3,445
I cannot feel sorry for you, you obviously have made some bad financial choice's in the past, and surly you are blaming others for your troubles too. Keep your full-time job, pay your bills down, and leave the green industry for the professionals. You need to be on a "how to fix my credit score blog" then come back.



Quote:
Originally Posted by Btomlin View Post
does anyone have any advice on how to purchase a commercial mower with a low credit score. i have a fulltime job but cut grass on the side. i need a new mower, but don't have good enough credit to get finianced at the dealer. i have enough yards to clear $2000.00 per month easy, but i don't have any proof of that income. any suggestions?
Reply With Quote
  #6  
Old 03-02-2009, 03:00 PM
TheCanadianLawnRanger's Avatar
TheCanadianLawnRanger TheCanadianLawnRanger is offline
LawnSite Member
 
Join Date: Feb 2009
Location: Ottawa canada
Posts: 100
Some people do have financial trouble. This is not for us to judge. My advice is get a used one for cash. Or get a cosigner. I needed a cosigner cause in canada you can not get credit for a buisness until you have been in buisness for 2 years.I myself have nto perfect credit. But keep ontrack and it will get better mine is alot better then it use to be
Reply With Quote
  #7  
Old 03-02-2009, 03:13 PM
lilwill12 lilwill12 is offline
LawnSite Member
 
Join Date: Aug 2004
Location: East TN
Posts: 28
Is the reason for your low score because you are young? I know when I was first entering the world of credit my score was low because I did not have a credit history. Couple that with you lack of proof of income and it can be hard to buy anything.

My suggestion is struggle with the mower you have save up and buy a good used one, or save the money from this year to buy one at the end of the season. There is a load of used equipment on this site alone for sale, and there are many dealers offering 1% financing.

If in fact your score is low because of bad decisions in the past, only hard work and worry will get you through that.

Will
Reply With Quote
  #8  
Old 03-02-2009, 04:27 PM
CLARK LAWN's Avatar
CLARK LAWN CLARK LAWN is offline
LawnSite Silver Member
 
Join Date: Oct 2005
Location: youngstown, ohio
Posts: 2,519
why dont you have proof of income? dont you claim the money on your taxes? I was just taling to a guy at the bank and he told me that you now need a score of 740 or higher to get a loan like that. Im good but i know a few who arent. good thing is it may stop so many people from trying to do this every spring.
__________________
www.clarklawn.com

join us on FACEBOOK www.facebook.com/ClarkLawnMaint
Reply With Quote
  #9  
Old 03-02-2009, 04:38 PM
nosparkplugs's Avatar
nosparkplugs nosparkplugs is offline
LawnSite Gold Member
 
Join Date: Mar 2007
Location: Memphis, TN
Posts: 3,445
The average credit score of the "credit worthy" American consumer 630- 680 depending on what credit tracking company you go through. Two years ago 630 was a moderate risk. Today you have to have above 680 to get a loan period. Look at what lending to irresponsible people got us. Were now going to carry the dead weight of the entire POS american consumer whom had to have the 20" rims on the GMC Denali and at least two plasma TV's, and a 500K house. I have zero pitty for people with low credit scores,these scores are like that for A REASON. It's now even harder for people with GOOD credit to get loans. In late 2008 I had to jump through 45 hoops, and hope on 1 leg to get a business loan last year; because of the sense of entitlement some people have. it takes years to build good credit, and years to fix it. Soon were going to be whipping credit scores clean for those worthy of it

Last edited by nosparkplugs; 03-02-2009 at 04:43 PM.
Reply With Quote
  #10  
Old 03-02-2009, 05:00 PM
punt66's Avatar
punt66 punt66 is offline
LawnSite Fanatic
 
Join Date: Aug 2007
Location: Simsbury CT
Posts: 8,540
Quote:
Originally Posted by nosparkplugs View Post
The average credit score of the "credit worthy" American consumer 630- 680 depending on what credit tracking company you go through. Two years ago 630 was a moderate risk. Today you have to have above 680 to get a loan period. Look at what lending to irresponsible people got us. Were now going to carry the dead weight of the entire POS american consumer whom had to have the 20" rims on the GMC Denali and at least two plasma TV's, and a 500K house. I have zero pitty for people with low credit scores,these scores are like that for A REASON. It's now even harder for people with GOOD credit to get loans. In late 2008 I had to jump through 45 hoops, and hope on 1 leg to get a business loan last year; because of the sense of entitlement some people have. it takes years to build good credit, and years to fix it. Soon were going to be whipping credit scores clean for those worthy of it
I agree with both your posts 100%. he is a risk and its obvious. He has a business and one thats not legit. Doesnt pay taxes and doesnt have sence enough to put money aside for replacement equipment. Can you say high risk. The next few years should get interesting.
__________________
JP Landscaping


SOLO OPERATION
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump





Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright ©1998 - 2012, LawnSite.comô - Moose River Media
All times are GMT -4. The time now is 07:06 PM.

Page generated in 0.10686 seconds with 8 queries