Toro or Exmark lease

Discussion in 'Lawn Mowing' started by HazellLawnCare, Jul 1, 2003.

  1. HazellLawnCare

    HazellLawnCare LawnSite Senior Member
    Posts: 832

    Ok I'm going to be buying all new mowing equipment next spring and I've narrowed it down to Toro and Exmark. My question is have any of you taken advantage of their lease programs. I've always thought this is the way to go because a commercial mower isn't worth having around after 3 or 4 years. How do the 2 year leases work? Is it financially ok to do this? Give me your input.
     
  2. T.E.

    T.E. LawnSite Senior Member
    Posts: 799

    I have a Toro 52" Z Master that I put on a lease. I have the money to buy it out right,but I figured I would lease it and save my capital. I have a buy out clause where I can purchase it at any time, at a negotiable price! That I found to be nice. If I choose to make all the lease payments, then at the end of the lease I have a $1.00 dollar purchase price.
     
  3. DanG

    DanG LawnSite Member
    Posts: 234

    I got my 52" Z-master, a bagging set up for it and a 37" Toro with bagger walkbehind on a lease. With a $1.00 purchase option at the end of it (which i took advantage of).

    It made more sense for me to do it that way on the advice on my accountant. I used Advance Acceptance for the lease program.
    And i've also used sheffield financial for equipment purchases and leases.

    Dan
     
  4. MacLawnCo

    MacLawnCo LawnSite Bronze Member
    Posts: 1,847

    You two that used the lease, what did the total of the lease payments ammount to (what percent more than the total purchase price)? Were you able to write off the lease payments entirely? Thanks
     
  5. LLMSERVICE

    LLMSERVICE LawnSite Member
    Posts: 96

    I'm leasing my Lazer HP, but through Kubota financial as the local dealer carries a number of manufacturers and their financing affiliates. I was able to choose the company with the best terms and options.

    The benefits are:

    Ability to write off 100% of payments
    Competitive interest rate to purchase financing
    I can pay it off earlier without penalty
    Free up capital for other things
    Low buy out at end of lease term
     
  6. T.E.

    T.E. LawnSite Senior Member
    Posts: 799

    I would have to find my paper work on the toro to see what the total amount will be, but yes I was told that 100% is allowed to be written off. :)
     

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