Financing a mower?

Discussion in 'Lawn Mowing' started by TopQualityLawnCare, Feb 4, 2013.

  1. What are you billing per month?
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  2. sdavis1970

    sdavis1970 LawnSite Member
    Posts: 14

    so true! have four trucks use three of them everyday fourth is a backup! newest is a 2004 and all are payed for! Have two JD 757`s one ex mark all paid for! been slow past few weeks ,but just gives me time to work around my shop!
     
  3. dstifel

    dstifel LawnSite Senior Member
    Posts: 899

    It will get you cutting and moving forward. Offer him low say 1600 and see what he says. Exmarks are good machines. Then you have no monthly payments to eat up your profit. HOw many accounts do you have? Do you need a 52"? New toro 30 inch is a nice commercial machine for under 2 grand brand new. Just a thought.
     
  4. knox gsl

    knox gsl LawnSite Platinum Member
    Posts: 4,735

  5. TopQualityLawnCare

    TopQualityLawnCare LawnSite Member
    Posts: 115

    Thanks Knox those are some nice machines I'm going to go look at this 52" exmark and see if I like it or not if not I'm going to look at the 48" on that link
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  6. wegomow

    wegomow LawnSite Senior Member
    Posts: 389

    Your question was about needing a cosigner and you get advice on if you should buy used or not. :dizzy: My answer, yes, more than likely if you needed one the first time you applied. The reasons the finance company wants a cosigner can be, you don't have established credit yet or maybe you've defaulted on a loan in the past or filed bankruptcy.
    If you can finance something for 0%, "it's always a good thing to use someone else's money". My wife was in banking for years and that has always been her motto. Just make your payments on time and a little more than the minimum so you pay it off on time and do not get hit with finance charges.
     
  7. clydebusa

    clydebusa LawnSite Bronze Member
    Posts: 1,660

    I removed my statement, wish the admin would let you delete your statement. Well that should be a topic of a thread.
     
  8. inzane

    inzane LawnSite Silver Member
    Posts: 2,348

    If you know for sure you can pay it off in time, those are great deals.. i've taken advantage of those type of financing offers whenever i could in the past. i usually hold onto the cash, I'll have the money to pay it out right, but i'll just make payments every month. then at the end of the year i just pay off the balance. I guess the reason i like to buy new is atleast there is some kind of warranty.. and the peace of mind that is new that it probally will last a while.. This year i started up for the first time "again" and i just bought an older exmark metro 36" for like 900 or so.. it runs and cuts good. I had money to buy new, but I did whatever i could to cut costs because i actually gotta try to make profit ASAP, and want money saved back for emergency funds in case i have a bad month, drought.. whatever.. I came close to financing a new gravely, they had a good financing offer... I just don't have the accounts to justify it.. so i bought the old beater in the meantime. mabee next year if i need a bigger mower i can get something better, and have this older one as a backup/gate mower..
     
  9. TopQualityLawnCare

    TopQualityLawnCare LawnSite Member
    Posts: 115

    Thank you inzane an wegomow I'm going to the dealer I'm going to the dealer today there opened back up I've got to pick up a redmax hedge trimmer weedeater and sprayer anyways and ill ask them about them if its a yea ill think about it cause a new mower sounds nice with a warranty that will last me for 3 4 years but if no what hurts to stay out of debt? Ill just buy a used walk behind to get me started and get me a zero turn at he end of this year
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  10. z71tiger

    z71tiger LawnSite Senior Member
    Posts: 280

    You think no one is profiting off of 0%? Why would someone offer 0%? First, to get 0% you are paying full retail, no discount. Second, statistics show that 88% of people will not pay that loan off in time and start paying the outrageous interest rate that dates all the way back to when the loan originated. Bottom line, banks will get money.
     

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