financing?

Discussion in 'Starting a Lawn Care Business' started by barcode148, Aug 12, 2006.

  1. barcode148

    barcode148 LawnSite Member
    Posts: 86

    i was looking at the lesco website and saw that they are offering 24 monthes 0% interest. i am 16 and was wondering if i could take advantage of this without someone cosigning. i would be willing to put up a substantial amount of money.


    thanks
     
  2. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569

    Nope. They use a company here in NC (Sheffield) for all of their financing and by NC law (and most all other states also) you must be at least 18 years old to sign the contract. Plus, the company is actually owned by a larger bank and few if any at all banks would lend money to a 16 year old....sorry.
     
  3. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Posts: 3,335

    *disregard this post, my opinion obviously dont count...*
     
  4. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569


    Neither of those two are what he ask either young man....:dizzy:

    He ASK 1) if he could borrow from the company offering Lesco's financing, NOT his daddy's credit union and 2) he ask if on top of that if they would do it withOUT a co-signer........neither of which he will be able to do.....period.
     
  5. barcode148

    barcode148 LawnSite Member
    Posts: 86

    thanks so far guys but has anyone had success with what im asking or is it impossible.

    thanks again
     
  6. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569

    16 without an adult co-signer......YES IMPOSSIBLE
     
  7. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Posts: 3,335

    Is there ANY way you could get a cosigner?
     
  8. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    It's a bit of a strange idea but I know my credit union offers share secured loans (meaning they freeze the amount of the loan in funds that you must have in an existing account until such time the loan is paid for, and in case of default, they use the funds that are frozen).

    So if you have substantial money, then you might be able to try that route thou last I heard, all Toro's financing goes through one bank and I don't know what their options are, same might be for other mowers, you'd have to check with the bank offering the financing.

    But yes, anyone and I mean anybody should be able to get a secured loan, people frequently use these types of loans to establish credit.
     

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