How much debt do you have?

Discussion in 'General Industry Discussions' started by ColePyck, May 16, 2007.

  1. ColePyck

    ColePyck LawnSite Member
    from Midwest
    Posts: 208

    So I have been thinking a lot about getting a new truck, which would bring my business into more debt. I can justify because my older half ton is on its last legs. Then I look around at the largers companies in town and think that they must have HUGE amounts of debt. So how large are you and how much debt do you guys carry with still being able to sleep at night ?
     
  2. FIRESCOOBY

    FIRESCOOBY LawnSite Senior Member
    Posts: 981

    I am solo and only have what is listed below.

    Everything is paid for minus the truck and I currently owe $15,379.57 on it. I will be selling or trading the Mini-Z in on either a SuperZ or Exmark next Spring. I won't be financing it though. Pay only cash or it doesn't get bought.
     
  3. ALarsh

    ALarsh LawnSite Silver Member
    from Midwest
    Posts: 2,412

    Under $4k of debt and I have all the equipment that I need and a full route.
     
  4. T.E.

    T.E. LawnSite Senior Member
    Posts: 799

    Zero debt, and my plan is to keep it that way.
     
  5. procut

    procut LawnSite Bronze Member
    Posts: 1,853

    I have about $14,000 in business related debt.
     
  6. Prestige-Lawncare

    Prestige-Lawncare LawnSite Senior Member
    Posts: 753

    Not counting the truck .. which I had before starting this full time ... $0.00 debt. All equipment is paid for in full.

    With that said ... truck payment ... mortgage ... camper ... and the usual host of other bills ... cell, satellite TV, utilities, ... and the biggie ... 2 teenagers!!!
     
  7. fiveoboy01

    fiveoboy01 LawnSite Silver Member
    Posts: 2,988

    Truck loan balance is around 26K...

    The 36" exmark which I bought a couple weeks ago, that's around 4800 or so.

    The truck is 0% for the life of the loan, and the mower is no payments, 0% interest for a year. We'll have it paid for well before that.

    All my other equipment/trailer etc, I do not owe anything on.
     
  8. Mr Priceless

    Mr Priceless LawnSite Senior Member
    Posts: 412

    i have about -$170.00 in debt. in otherwords, people owe MEpayup
     
  9. Mark13

    Mark13 LawnSite Member
    Posts: 173

    I guess its better to be owed something than to be oweing someone something.
     
  10. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Posts: 3,331

    About $2400 on equipment, and $3000 on my Chevy truck.
     

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