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Monthly payments on rider.

Discussion in 'Lawn Mowing' started by Bunton Guy, Sep 13, 2001.

  1. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,754

    I was thinking of getting a Great Dane Chariot 61" cut mower or a Exmark Lazer Z 60" cut or 61 whatever the heck they are now...anywho I was trying to get a figure on what you guys are paying monthly. I would be getting the loan through my mom...she has great credit. We have no problem getting loans so that isnt a concern. I would be putting down no more than 500 bucks on it. And im not sure what the interest rates are rite now. I know one guy said he is paying $289 a month with no money down on his Bob-cat 61" rider and another guy said he is paying $215.00 a month on his John Deer 61" rider and he put down no more than 300 dollars down. So if you could give me figures with what you guys put down and payments and all of that would be great. I think If I get the Great Dane it will be through John Deer credit, if I get any other mower it will be through Sheffield Finnacial corp which I had my last loan through (48" walk behind) which was a 36 month loan that I paid off in a year the ammount was like 2,500....so hopefully that made my moms credit better.
  2. mowerconsultant

    mowerconsultant LawnSite Fanatic
    Male, from Syracuse, NY
    Posts: 9,761

    Bunton Guy,
    Become a "Hustler Guy" and go look at the Hustler Z or Super Z.
    Then when you decide that you want it, we will provide you with 1.9% financing, this program is a 12 month program.
    6.9% for 24 months
    9.9% for 36 months
    You can buy now and make no payments till April 2002
    These programs are through Sheffield
    All of these programs are no money down, and are for all Hustler products
    Go see Chad Whiltley in Monroe, and he will hook you up !!!

  3. Cleve

    Cleve LawnSite Senior Member
    Male, from Rockmart, GA
    Posts: 398

    I'm suprised you don't already have those figures.
    You seem more interested about the "monthly" than you are about rates or time.
    Why not just have your mom ask the bank what the going rate is for a loan and go from there? When I bought my first big mower it was a Toro WB and Toro offered some special financing through a local loan company that involved 6 months free. Took advantage of that and just paid it off at the end of the 6 month period. Had already figured if we couldn't come up with the entire amount we would just go the the bank and borrow it at current rates. When we got the Walker in 1994 we just went to our local bank and they gave us identical rates as for an auto loan. Seems like it was around 7.9% or so for 3 years. They seemed happy to loan us $10,000 at that time. No problem at all that it was lawn equipment.
  4. Eric ELM

    Eric ELM Husband, Father, Friend, Angel
    Posts: 4,831

    It will depend on how much you finance and for how long and what the rates are, how much your payment will be.

    On the question what others are, mine is $0.00 a month and I'm glad of it.
  5. AltaLawnCare

    AltaLawnCare LawnSite Senior Member
    Posts: 962

    Be careful..
    Buying a new mower on credit is commiting to owning that mower for how-ever long you finance it. If you add up all your monthly payments, they will be much more than what your buying price was. This will tell you how much the mower will really cost you in the long run.:eek:
  6. KirbysLawn

    KirbysLawn Millenium Member
    Posts: 3,486

  7. Randy Scott

    Randy Scott LawnSite Bronze Member
    Posts: 1,915

    Also, why don't you see if they will let your mom co-sign for you and build YOUR credit in the process. Good credit is crucial. Never too young to start. I see you are 19 and the bank shouldn't have a problem if her credit is good. Good luck!
  8. eslawns

    eslawns LawnSite Senior Member
    Posts: 712

    I financed mine on a 0% interest for 1 easy payments plan. My hand was trembling so badly I could barely sign the check.
  9. geogunn

    geogunn LawnSite Gold Member
    from TN
    Posts: 3,010

    bunton guy--regarding your credit rating...paying off early has no effect on your credit rating.

    paying on time does and they expect you to do that for the life of the loan.

    pay late...you're dead for credit when you really want it, like when you want a prefered low rate for a home loan.


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