Financing a mower?

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

  1. 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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  2. TopQualityLawnCare

    TopQualityLawnCare LawnSite Member
    Posts: 115

    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
     
  3. MOturkey

    MOturkey LawnSite Silver Member
    Posts: 2,742

    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.
     
  4. dstifel

    dstifel LawnSite Senior Member
    Posts: 899

    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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  5. TopQualityLawnCare

    TopQualityLawnCare LawnSite Member
    Posts: 115

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

    Pietro LawnSite Senior Member
    Posts: 858

    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.
     
  7. 205mx

    205mx LawnSite Silver Member
    Posts: 2,339

    Does your company own your truck?
    Or does it double as a personal vehicle?
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  8. 205mx

    205mx LawnSite Silver Member
    Posts: 2,339

    That's not the running definition of operating budget
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  9. TopQualityLawnCare

    TopQualityLawnCare LawnSite Member
    Posts: 115

    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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  10. skorum03

    skorum03 LawnSite Senior Member
    Posts: 354

    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.

    YardBros Outdoors
    www.yardbros.com
     

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