Equipment Financing

Discussion in 'Business Operations' started by CLservice, Mar 24, 2012.

  1. that is good for you, but that wasn't his question was it.
  2. FLC2000

    FLC2000 LawnSite Bronze Member
    Posts: 1,842

    Just offering advice. Didnt know the internet police were going to get involved.

    To many people finance and get stuck making payments for years and by the time they get it paid it off its worth 30% of what it was new or its not running at all.

    The best thing to do is pay up front for it.

    Seems like pretty simple logic to me.

    And to be honest if you dont like what I post ignore it.

  3. so i gues that mean that you paid cash for your house and that its paid off. well congrats then.
  4. FLC2000

    FLC2000 LawnSite Bronze Member
    Posts: 1,842


    Its an opinion. Again, if you dont like it dont respond.
  5. CLservice

    CLservice LawnSite Member
    from MI
    Posts: 24

    By the end of this mowing season I will have enough cash to pay for them. So right now I was looking for a 6months of a 12months deal or make payment for 6months and pay it all off. I just figured I would make payments now to improve my credit, that way if a rainy day situation happens down the road I will have good credit for that situation.
  6. FLC2000

    FLC2000 LawnSite Bronze Member
    Posts: 1,842

    If its all you can do and if the piece of equipment you are buying is a neccessity than by all means do it.

    Just sink every penny you have into paying it off as soon as possible.

    I hate financing. I hate credit cards. I hate borrowing money. Id rather have someone owe me money than the other way around.
  7. CLservice

    CLservice LawnSite Member
    from MI
    Posts: 24

    Ya, I don’t have the cash right now, by the end of the season with the contract I have I should be able. I try to only use cash but you need credit sometime down the road.
  8. grandview (2006)

    grandview (2006) LawnSite Gold Member
    Posts: 3,466

    That is right.
  9. McFarland_Lawn_Care

    McFarland_Lawn_Care LawnSite Bronze Member
    Posts: 1,412

    I have financed a few things over the years and it did help me out. Put some cash down on it if at all possible. I have used GE and Sheffield and had good experiences with both. Try to take advantage of the promotional deals - 0% is good. Just be sure business is growing to keep up with it and you'll be fine. Companies that grow very quickly and are very secure almost always borrow capital to keep up with their growth. It's all part of investing. Now PERSONAL debt I am against! Good luck and let us know how you make out!


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