Loans?

Discussion in 'Starting a Lawn Care Business' started by GravelyWalker, Oct 10, 2012.

  1. GravelyWalker

    GravelyWalker LawnSite Member
    Posts: 86

    Its becoming hard on me seeing all the other LCO's driving around with their nice trailers and mowers.(no offence to anyone). I have a old 40'' Gravely walk behind belt drive, its wearing on me after a 6 hr mowing day and I want to make my job easier. My question is how many of you have financed or taken a loan out for equipment? I really really dont want to because I dont like credit. This year I only went part time but planning on full time next year. I just dont think I can come up with 4-5k by spring to get a ZTR. Any thoughts?
     
  2. RussellB

    RussellB LawnSite Fanatic
    Posts: 5,998

    Gravely offers 0% financing for four years if you have an excellent credit rating. If you are going Full time I would invest in machines to make your life easier and more productive. Good luck
     
  3. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    Avoid credit as long as you can but maybe save some money like you are making payments. This way you will have some cash when the time comes.
     
  4. GravelyWalker

    GravelyWalker LawnSite Member
    Posts: 86

    That is my plan over winter but work is tight unless we get some snow. Might just look into getting a bigger hydro walker. I dont mind the walking as much as hand cramps and having to use my body weight to turn my old machine
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  5. Spring Valley Lawn Service

    Spring Valley Lawn Service LawnSite Member
    Posts: 142

    3.9 percent for 60 months. 5700 for a z400 toro 48 inch. That is 106 a month. That is 6360 or 660 interest plus a finance fee. 106 can be made possibly in two hours or three easily.
     
  6. grandview (2006)

    grandview (2006) LawnSite Gold Member
    Posts: 3,466

    How much would it cost you to go to a doctor vs monthly payments on the mower?
     
  7. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,284

    If you go into debt its likely you will fail, you may be able to buy one of those ztrs used from one of the other lcos when he cant make his payments.
     
  8. grandview (2006)

    grandview (2006) LawnSite Gold Member
    Posts: 3,466

    Based on that, I should still be cutting wit a 36 inch belt drive,or be out of business.
     
  9. get a loan, help stimulate the economy.
     
  10. jsslawncare

    jsslawncare LawnSite Bronze Member
    Posts: 1,674

    You never use credit in this industry. 30 accounts today, 3 tomorrow. Cash is king.
     

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