What do you pay a month??

Discussion in 'Business Operations' started by ryan41, Aug 10, 2012.

  1. ryan41

    ryan41 LawnSite Senior Member
    Posts: 326

    i was looking at trading in my current lawn mower at the end of the season and getting a brand new Gravely ZTR. I would take out a loan and put down some money. How much do you guys average pay a month for your mowers?? Just trying to get a feel for how much i will be paying every month...
     
  2. Jimslawncareservice

    Jimslawncareservice LawnSite Platinum Member
    from mn
    Posts: 4,133

    Depending on how much you barrow, for how long and interest. Anywhere from 100-250. General ball park.
    Posted via Mobile Device
     
  3. Gatewayuser

    Gatewayuser LawnSite Bronze Member
    Posts: 1,734

    I pay $121 for my Gravely with the loan amount of around 5k and 3% interest (pays down quick).
    My JD was $140 loan amount of 8k at 5.9% interest. Great Dane was $120, 7k loan at 2.9%.
    Sheffield is who Gravely uses and they seem like a good company, also JD is great too!
    Good luck!
     
  4. herler

    herler LawnSite Fanatic
    Posts: 5,144

    One payment, the cost of the mower with tax, pay cash and done.
     
  5. Gatewayuser

    Gatewayuser LawnSite Bronze Member
    Posts: 1,734

    lol yeah thats the best way.
     
  6. Keith

    Keith LawnSite Gold Member
    Posts: 3,977

    I won't pay cash for one as long as we can borrow the money at nearly 0%. Most of the manufacturers are subsidizing financing at most times. And that's really the only way to go when it comes to financing equipment. A local bank is not the best option here. But be aware, you need to have pretty decent credit. If you don't, expect a larger down payment and higher interest rates.

    To the original question, the last one I financed was a Hustler Super Z. It was $283 for 35 months. I put nothing down. The Lazer before that was around the same. Use an online calculator and plug different interest rates and terms in there and see for yourself what you might be looking at.
     
  7. Fleur De Lawn

    Fleur De Lawn LawnSite Member
    Posts: 197

    Go somewhere with a yard card they are doing 0 percent for 30 or 50 months
     
  8. herler

    herler LawnSite Fanatic
    Posts: 5,144

    In that case someone better run down to the bank and see if they'll loan the money in the first place because as the rule says, banks are always willing to lend first to those who don't need it which comes to mind whenever someone's asking about payments...
    The clue being, when someone's asking it's almost never the folks who don't need it ...

    But that's only the half of it...

    We're not talking about your wife's car here.
    We are speaking of a tool that your work requires.
    Would you take out a loan to buy a hammer?
    But why not, if they're willing to give it to you at near 0%?
    So then what happens when repo man shows up?
    You're fresh out of a tool that your job requires.

    Better off save your money and buy it cash.
    Even if you have to mow with a 21" until that time.
    Feel your pain, maybe this way you'll respect it.
    Maybe now you won't take the rest of us through your bankruptcy (when someone defaults it costs all of us)
    Feel your pain, maybe now you won't ride with the rops down.

    The reward doesn't lie at the end of easy street.
    It's always the hard road that reaps what you sow.
     
    Last edited: Aug 11, 2012
  9. jackal

    jackal LawnSite Senior Member
    Posts: 489

    Wouldn't you be better off to trade in the spring.

    Most have 6 month intrest free.

    Pay it off before the intrest kicks in.
     
  10. jsslawncare

    jsslawncare LawnSite Bronze Member
    Posts: 1,674

    I agree. Never buy something for the yards you have today. We all know here today, lowballed tomorrow. And wait until next spring.
     

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