financing

Discussion in 'Lawn Mowing' started by splatz100, Oct 24, 2004.

  1. splatz100

    splatz100 LawnSite Senior Member
    Posts: 647

    which mowers right now have the best deal on financing. i think ferris and hustler have like no down payment and no payment for 36 months. im not sure though. also is what is everyones views on financing.
     
  2. splatz100

    splatz100 LawnSite Senior Member
    Posts: 647

    anyone????
     
  3. Throgmorton

    Throgmorton LawnSite Member
    Posts: 52

    I'll reply.
    I'm a part-timer and work as a lender at a Bank full-time. My philosophy is this. Interest free is great but if it is for six months and your going to refinance it at your own bank then your will probably get hit again with closing fees, so it might not be worth it. If your going to let the company that is carrying the note at zero % carry the debt for a longer period than the six months beware of high interest rates. If they will carry the note for say 4 % over prime or less, which would be currently 8.75% then it's ok. Remember this, equipment is high risk financing to a bank because it is not titled. So, 8.75 or less is really not a bad rate on equipment currently. If you have further financing questions you can email me at todd.w.throgmorton@usbank.com
     
  4. launboy

    launboy LawnSite Senior Member
    from indiana
    Posts: 273

    Check out Scag they seem to have good deals
     
  5. splatz100

    splatz100 LawnSite Senior Member
    Posts: 647

    i dont have a SCAG dealer near me. all i have is exmark,snapper,cub cadet,ferris,hustler,gravely,dixie chopper, and john deere.
     
  6. N.H.BOY

    N.H.BOY LawnSite Bronze Member
    Posts: 1,604

    hey i bought a cub cadet zero turn with no money down and 0% APR FOR 3 YEARS through cub cadet commercial. check it out
     
  7. Envy Lawn Service

    Envy Lawn Service LawnSite Fanatic
    Posts: 11,062

    Toro and eXmark also have 3.9% for 36 months
     
  8. oneandonlyjojo

    oneandonlyjojo LawnSite Member
    from NY
    Posts: 125

    financing is stupid i feel if u cant afford it dont buy it
     
  9. HOOLIE

    HOOLIE LawnSite Gold Member
    Posts: 3,981

    I think the old saying goes "You have to spend money to make money"

    Donald Trump still finances his construction ventures. Maybe he's not a great example, don't know if he's a billionaire or bankrupt. That changes every year.

    Financing is a calculated risk. You gamble that you will make more than enough money off the new equipment to justify its purchase. If you always waited until you "had the cash", a lot of opportunities would pass you by.
     
  10. midtnstone

    midtnstone LawnSite Member
    from mid tn
    Posts: 76

    not saying financing is a great thing at all. but if you do this i would try to pay alot down, and get it paid off as fast as i could. Just because they have good intrest rates for 36 months i would shoot for paid in full in about 12 months. but that is my idea. i hate owing anybody.
     

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