mower financing

Discussion in 'Lawn Mowing Equipment' started by mdo1122, Feb 10, 2014.

  1. DA Quality Lawn & YS

    DA Quality Lawn & YS LawnSite Fanatic
    Posts: 8,866

    I agree with the cash business thing. I don't have debt in my business either.
    However, if one can get 0% for 36 or 48, and have liquid cash to back the purchase up, then I don't think it is a sin to use that financing to tie up other's money, while yours earns you a little interest, dividends, etc.
     
  2. Ridin' Green

    Ridin' Green LawnSite Fanatic
    Male, from Michigan
    Posts: 13,286

    Well said.:clapping:

    Exactly how we do things. We sleep better at night knowing it's paid for and that no one can come along and change the rules and/or rates just because the economy goes to crap and they're losing money on all those idiots who got in over their heads because they never stopped to think that things could ever go bad, and now can't pay back their debts.
     
  3. TPendagast

    TPendagast LawnSite Fanatic
    Male
    Posts: 7,563

    mind sharing some yard card issues?

    im curious
     
  4. boatcapt

    boatcapt LawnSite Member
    Posts: 91

    I'm knocking on wood as I type this, but I haven't had any problems with Yard Card. As has John Deere, no problems with them either. They have been really easy to deal with. I financed a golf cart with Sheffield one time and did interest only for 3 years. I would pay more than the interest only payment thinking I was knocking down the principal and they were taking that money and putting it towards the next month interest. Took me a few months to catch on, but I vowed then I wouldn't use Sheffield again for anything.
     
    Last edited: May 5, 2014
  5. DA Quality Lawn & YS

    DA Quality Lawn & YS LawnSite Fanatic
    Posts: 8,866

    I used Sheffield this year. Important thing: 0% for 48 mos, no prepay penalty, will pay off machine by end of season.
     
  6. rockymtnnut

    rockymtnnut LawnSite Senior Member
    Posts: 284

    Good for you but he needs financing.
    Posted via Mobile Device
     
  7. TuffTurfLawnCare

    TuffTurfLawnCare LawnSite Senior Member
    Posts: 668

    I use shefield and I use it to my advantage. I make my monthly payments to shefield on my Ink business card (along with all of my business expenses) then pay it off at the end of the month. The benefit? I rack up some serious Ultimate Reward Points from Chase and use them for free airfare, hotel stays or this year a free honeymoon. Highly recommend the chase Ink cards just for the points. Look into it and take advantage of them. If you pay the card off every month, you never pay interest either.
     
  8. milkie62

    milkie62 LawnSite Senior Member
    Posts: 833

    I paid $21k for my Ferris IS3100z and dump trailer.Yes I could have paid cash but did not want to tie up my money for about 3 yrs.I took the 0% for 36 months and used a $160 lawn to pay for it.With some mulching in the spring and leaves in the fall it covered the payment.And I still had the $21k.Otherwise I may have at times used some of that money for gas,or pocket money and maybe missed paying myself back at times.I had already gotten my best price on the equipment when I decided to finance.
     
  9. tlc23

    tlc23 LawnSite Member
    Posts: 117

    I financed part of my walker through Sheffield and was very pleased with them. They did it just like financing a car and not like a credit card like most companies.
    Posted via Mobile Device
     
  10. grobinsonpa

    grobinsonpa LawnSite Member
    Posts: 101

    Hey Ridin' Green, Middle Tenn. Lawn, & Nashguy 207,
    Thank you for your comments!! Debt free is the only way to go.
     

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