Finance

Discussion in 'Lawn Mowing' started by okie2, Apr 17, 2007.

  1. okie2

    okie2 LawnSite Member
    Posts: 97

    Whats the best way to finance my mower? Are most mowers on revolving credit, like credit cards, or can you get installment payments through the dealer? Do you put extra money to your account balance each month to pay it off faster? What about a down payment?
     
  2. chammons

    chammons LawnSite Member
    Posts: 64

    I financed through the dealer. 0% for 36 mon.
     
  3. LwnmwrMan22

    LwnmwrMan22 LawnSite Platinum Member
    Posts: 4,372

    Financed through Kubota here as well. Usually it isn't the dealer themselves doing the financing, it's the manufacturer of the mower that you're purchasing that does the financing, or an owned company of that manufacturer.
     
  4. tacoma200

    tacoma200 LawnSite Fanatic
    Posts: 5,426

    The Manufacturers and Dealers usually work through finance company's such as GE Credit, Sheffield, etc. Go to the web site of the mower you plan on buying and see what they offer. It will be different for each company. Keep in mind they charge the dealer a certain percentage for the better (sounds too good to be true) plans. Often 2% or more of the total is charged back to the dealer but usually they have enough mark up to cover it. I just ask the dealer what each plan it costing him and we add that to the low ball price I've got him down to. Here's a sample of some Exmark plans... click on the link plus most of these company's let you miss a payment in the Winter if your having a hard time.

    http://exmark.com/ez-commercial.asp?from=lawnsitebanner&version=spring

    Scag
    http://www.scag.com/financing.html
     
  5. Raven386

    Raven386 LawnSite Silver Member
    from CT
    Posts: 2,160

    i cant tell you Sheffield is one of the easiest companys to deal with IMO
     
  6. Gruneich Lawn Care Inc.

    Gruneich Lawn Care Inc. LawnSite Senior Member
    from SD
    Posts: 295

    Sheffield is horrible from my experiance, I had a loan with them for about 2 months, easier just pay the mower off, than try to deal with them
     
  7. tacoma200

    tacoma200 LawnSite Fanatic
    Posts: 5,426

    I've used GE, Sheffield, Sunflower with out any problems.
     
  8. lawnman_scott

    lawnman_scott LawnSite Fanatic
    Posts: 7,547

    What was your problem with sheffield? I never had a problem.

    Another one is Yard Card. And they are probably the best one to have. They run 1.9% alot. Cant beat that rate.
     
  9. Gruneich Lawn Care Inc.

    Gruneich Lawn Care Inc. LawnSite Senior Member
    from SD
    Posts: 295

    They almost always where trying to charge me a late fee, even when I was at least 3 months ahead on payments, then when I would try to call in, I was always on hold for 10mins at least. This was awhile ago, so maybe they have changed for the better, I have taken a loan out with them for awhile.
     
  10. LwnmwrMan22

    LwnmwrMan22 LawnSite Platinum Member
    Posts: 4,372

    My Perma Green Magnum is with Sheffield right now, 0% for 3 years.

    I've got a 48" DD Ferris walkbehind with yard card, due July 17th, 0% for 1 year.

    I've got (2) Kubotas, a 2006 ZD 28 at 0% for 3 years, and then the ZD331 I just purchased is on 0% for 3 years, both with Kubota Credit corp.

    Gotta love being able to run equipment for 3 years and never pay any interest. Why pay for the whole thing up front??? Keep that money in the bank for emergencies.
     

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