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low credit score...NEED LAWN MOWER

Discussion in 'Lawn Mowing Equipment' started by Btomlin, Mar 2, 2009.

  1. Btomlin

    Btomlin LawnSite Member
    Posts: 2

    does anyone have any advice on how to purchase a commercial mower with a low credit score. i have a fulltime job but cut grass on the side. i need a new mower, but don't have good enough credit to get finianced at the dealer. i have enough yards to clear $2000.00 per month easy, but i don't have any proof of that income. any suggestions?
  2. Fox Landscape Services

    Fox Landscape Services LawnSite Member
    Posts: 77

    Mow with the one you have, save the 2 grand and you will soon have enough to at least buy a used one.
  3. allfiremencutgrass

    allfiremencutgrass LawnSite Member
    Posts: 32

    Well I would either try to get a cosigner to help you or buy a good used mower w/ cash. I did the latter and it has worked out well for me. 2K a month can in my opinion be done w a good used commercial grade mower..good luck
  4. KeystoneLawn&Landscaping

    KeystoneLawn&Landscaping LawnSite Senior Member
    Posts: 774

    Two words....USED & CASH...its that simple!
  5. nosparkplugs

    nosparkplugs LawnSite Gold Member
    Posts: 3,445

    I cannot feel sorry for you, you obviously have made some bad financial choice's in the past, and surly you are blaming others for your troubles too. Keep your full-time job, pay your bills down, and leave the green industry for the professionals. You need to be on a "how to fix my credit score blog" then come back.

  6. TheCanadianLawnRanger

    TheCanadianLawnRanger LawnSite Member
    Posts: 99

    Some people do have financial trouble. This is not for us to judge. My advice is get a used one for cash. Or get a cosigner. I needed a cosigner cause in canada you can not get credit for a buisness until you have been in buisness for 2 years.I myself have nto perfect credit. But keep ontrack and it will get better mine is alot better then it use to be
  7. lilwill12

    lilwill12 LawnSite Member
    from East TN
    Posts: 28

    Is the reason for your low score because you are young? I know when I was first entering the world of credit my score was low because I did not have a credit history. Couple that with you lack of proof of income and it can be hard to buy anything.

    My suggestion is struggle with the mower you have save up and buy a good used one, or save the money from this year to buy one at the end of the season. There is a load of used equipment on this site alone for sale, and there are many dealers offering 1% financing.

    If in fact your score is low because of bad decisions in the past, only hard work and worry will get you through that.


    CLARK LAWN LawnSite Silver Member
    Posts: 2,526

    why dont you have proof of income? dont you claim the money on your taxes? I was just taling to a guy at the bank and he told me that you now need a score of 740 or higher to get a loan like that. Im good but i know a few who arent. good thing is it may stop so many people from trying to do this every spring.
  9. nosparkplugs

    nosparkplugs LawnSite Gold Member
    Posts: 3,445

    The average credit score of the "credit worthy" American consumer 630- 680 depending on what credit tracking company you go through. Two years ago 630 was a moderate risk. Today you have to have above 680 to get a loan period. Look at what lending to irresponsible people got us. Were now going to carry the dead weight of the entire POS american consumer whom had to have the 20" rims on the GMC Denali and at least two plasma TV's, and a 500K house. I have zero pitty for people with low credit scores,these scores are like that for A REASON. It's now even harder for people with GOOD credit to get loans. In late 2008 I had to jump through 45 hoops, and hope on 1 leg to get a business loan last year; because of the sense of entitlement some people have. it takes years to build good credit, and years to fix it. Soon were going to be whipping credit scores clean for those worthy of it:hammerhead:
    Last edited: Mar 2, 2009
  10. punt66

    punt66 LawnSite Fanatic
    Posts: 8,538

    I agree with both your posts 100%. he is a risk and its obvious. He has a business and one thats not legit. Doesnt pay taxes and doesnt have sence enough to put money aside for replacement equipment. Can you say high risk. The next few years should get interesting.

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