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Killer Loan Rates

Discussion in 'Business Operations' started by Stonehenge, Oct 25, 2001.

  1. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Posts: 1,277

    I know that with the economy in a slight bit of a slump this may not be the best time to invest in equipment, but if you are in a growth mode and need new toys, now's the time.

    I just bought another truck (F700), and rolled an existing note in with this one, and got 5.82%!!

    Can't beat that with a stick!
     
  2. HOWARD JONES

    HOWARD JONES LawnSite Member
    Posts: 233

    Yeah - I don't know about rolling old notes into new ones, but some Ford stuff is going for 0.0%, 60 months - I did some comparisons, and $25,000 at 0.0 would be about $416/month, same payment as $21,000 at 7%.
     
  3. Randy Scott

    Randy Scott LawnSite Bronze Member
    Posts: 1,915

    Just bought a new John Deere 250 skidsteer and trailer. Financed at 4.9% for 60 months. If I could afford a bigger payment it was even better at 36 and 48 months. 0.0% for 24 months but that is a whopping payment. No charge for early payoff though. Definately a good time to buy but you still need the money to pay for it. Gotta be careful, it's too easy to get into trouble.
     
  4. CHC

    CHC LawnSite Member
    Posts: 65

    New Holland has a 2.9% for 60 months on skidloaders & possibly more during October. We traded a 1999 Lx665 @ 4.9% for a 2001 Ls 180 @ 2.9% with more goodies - suspension seat!! & will only be paying $ 35 more per month. Seem to be some really good deals out & about right now.
     
  5. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Posts: 1,277

    Well, I thought I did well!! Looks like you did even better! Good for you. And congrats to everyone for not shying away from growth in light of recent events.

    We'll all be really happy when everything gets cruising again and everyone else is paying 8%+ on loans for eqpt, and buying the eqpt at the usual, high prices.
     
  6. MOW ED

    MOW ED LawnSite Fanatic
    Posts: 5,028

    Hey Stonehenge I hope you didn't go to this bank. I got a 0% for 6 month loan from them earlier this year and look what came in the mail.

    This bank is right in your hometown and I can't believe they are trying to give those Killer rates.

    Its Wells Fargo and they sent me a letter saying that I could have a loan for 2008.57 at 36%apr.

    What a deal, the total interest paid would be 1,303.43???

    Run right down to Westhill Blvd and sign up, How can you afford not to.

    I know the scan is bad and I didn't feel like scanning it again.

    ~lwf0001.jpg
     
  7. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Posts: 1,277

    I think I'm in the wrong business!! Might as well get your vehicle loan from Mr. Cash, or CashNow or whatever those places are called.

    I use Firstar - I've used them for all of my eqpt loans so far. They typically have great rates and they seem easy to work with.
     
  8. Guido

    Guido LawnSite Silver Member
    Posts: 2,085

    Ford Credit is offering VERY LOW, if any intrest rates right now. I'll be saving some big $$ on my new F-250. I'll try to cut and paste the details, but I can't seem to get the article I had to line up right.

    Hope this helps!


    DEARBORN, Mich., Sept. 20, 2001 – Ford today announced a newincentive program, Ford Drives America, which offers consumerszero percent financing on Ford Division vehicles. "Ford is a customer-driven company with a great product lineupthat offers exceptional value," said Jim O'Connor, president ofFord Division. "This program strengthens our leadership position in the marketplace and reinforces our commitment to supporting the U.S. economy."The zero percent financing option is effective Sept. 20 through Oct. 31, 2001. As an alternative to the Ford Drives America financing option, consumers can choose the current cash back or leasing options being offered.Financing Options for Qualified Buyers:'


    01 Cars '01 Trucks
    36 Month 0.0% 36 Month 0.0%
    48 Month 0.0% 48 Month 0.9%
    60 Month 0.0% 60 Month 2.9%

    '02 Cars* '02 Trucks
    36 Month 0.0% 36 Month 0.0%
    48 Month 0.9% 48 Month 2.9%
    60 Month 2.9% 60 Month 4.9%

    Source: Ford Motor Company



    You only have a few days left on this one, I forgot it was only until the end of October. Sorry!
     

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