Financing a mower?

[Florida Gardener]

Originally Posted by z71tiger

Why is the size of my operation being questioned? No one knows the size of his operation but yet has no problem telling him to finance and bring a co-signer in!?! Does he have insurance that he is also going to have to pay monthly on? So if his mower note is 200 and his insurance is 200 not to mention gas and other expenses can he survive? We don't know. To you and I sure we can swing a 200 mower note so it seems like a no-brainer right? This guy may still be in high school and have 2 yards.

A little testy are we...there are a lot of reasons why he should finance. 1.) he gets a brand new machine with 2 year warranty. I don't care how good a used machine looks, it's still a gamble. 2.) it's 0% over 4 years. He pays a small monthly payment to have a brand new machine. 3.) he gets to keep cash on hand for other items he will need or just to have cash on hand. 4.) he gets to build his credit. What happens when he wants to finance a new vehicle and has no credit? He's going to pay a lot more in interest.

So many guys on here are so adamant about paying cash for everything. There are situations where financing is smart. This is one of them.
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[TopQualityLawnCare]

yea i would have liked to finance one it was 0% for 50 months brand new gravely 60 inch 160 122 a month sounds nice but dont have a cosigner so im just gonna have to build credit with a card or something

[MOturkey]

Originally Posted by TopQualityLawnCare

yea i would have liked to finance one it was 0% for 50 months brand new gravely 60 inch 160 122 a month sounds nice but dont have a cosigner so im just gonna have to build credit with a card or something

Sorry you weren't able to obtain financing. Good credit is a tool which can serve you well in the future, so starting to build a good credit history is a smart idea. Good luck.

[dstifel]

I pay for all equipment gas since I write of mileage with a credit card pay it of each month. Makes it east come tax time since its all I use that card for.
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[TopQualityLawnCare]

Yea I work for my cousin and that's what he does ill do that it's a good Idea
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[Pietro]

How many accounts do you have? I have personally financed 4 mowers new. I wont do it anymore. The payments get old. Just buy a used mower, shop around and check other states. Theyre out there. If you really NEEDED a new one you wouldn't have asked us about it. The need would have justified it. Id love a NEW truck, but I don't NEED it. So I'm disciplined enough to say no. Sometimes it's hard, hell sit in a new truck in the dealer....who doesn't want it.

If the payments would be $122.00 a month here is how you can justify it. $122X12= $1464.00. What is your gross for the year? If thats no sweat, then get it. Just remember its for 50 months. We dont mow year round here, but the payments are year round. Just be smart.

[205mx]

Originally Posted by dstifel

I pay for all equipment gas since I write of mileage with a credit card pay it of each month. Makes it east come tax time since its all I use that card for.
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Does your company own your truck?
Or does it double as a personal vehicle?
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[205mx]

Originally Posted by jrs.landscaping

He is also using half of his operating budget on one purchase. Not only does financing allow him to keep that money for operating expenses it allows him to build credit with his new business. I am only assuming he can make the payments and have the lien paid off before the 0% offer expires. If he doesn't have enough coming in to make the payments and maintain an operating budget I agree he should buy a used mower and build from there.

That's not the running definition of operating budget
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[TopQualityLawnCare]

I wasent asking if I wanted a new mower the thread was all about how since I have a down payment would i still need a Cosigner or not which I do so my question was answered
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[skorum03]

Buy used bro. Nothing wrong with a used machine. You can save so much money that way. I started out last year and paid nothing but cash for everything and it worked out great. I have no debt and no worries through the winter. I don't even own a credit card yet. But it sounds like that is something you and I should both be doing. But anyways, I am in the market for another used mower this year and last year I paid cash for my zero turn, truck, and all of my other tools etc. Cash cash cash. no debt. Makes a big difference month to month.

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