Buying mowers new with cash or financing?

Discussion in 'Lawn Mowing' started by DillonsLawnCare, Apr 13, 2008.



  1. Who Finances There Equip.??

    13 vote(s)
  2. Who Buys Equip. With Cash All The Time??

    14 vote(s)
  3. Who Buys Strictly Used Machines??

    1 vote(s)
  1. DillonsLawnCare

    DillonsLawnCare LawnSite Bronze Member
    Messages: 1,100

    how many of you guys finance your equipment? how many buy with cash? how many buy strictly used?

    has anyone ever had a bad experience with financing a mower. like not being able to pay it off. sell other equipment to pay it off....etc...
  2. lawnspecialties

    lawnspecialties LawnSite Silver Member
    Messages: 2,524

    I've always financed mowers in the past. Up until recently, it was never an option for me but as your business grows, so do your cash reserves.

    I just never had an extra $8,000-$10,000 lying around.

    As for new or used, I always buy new. I'm a solo LCO and take care of my equipment far better than typical crews do. I also can't catch up after a breakdown as easily as crews can. Therefore, it's always new for me.:)

    THRIFTY LawnSite Member
    from (913)
    Messages: 208

    I finance only when 0%, or rarily VERY low interest rates are availible. On large purchases I like to finance even when I can afford to pay cash for them. I can use someone elses money for free, and put MY money into high interest savings accounts, CD's, bonds, etc...Its just is financially smarter IMO...
  4. 06HD BOSS

    06HD BOSS LawnSite Member
    Messages: 96

    my new 60" exmark i just took advantage of their 12months no payments/no interest. just gotta pay it off before 12months. ive got the money for it but i rather make my money work for me, and if i dont need to spend the cash, why not save it incase i need it for something else that comes up.
  5. TrapperJohn

    TrapperJohn LawnSite Member
    Messages: 70

    With the interest rates some companies are offering, why would you not finance?

    Buy it new, depend on it, be done with it. Reliable service is what keeps you in business. Short of a LCO going out of business, there aren't many good commercial mowers for sale used.
  6. jaybird24

    jaybird24 LawnSite Senior Member
    from midwest
    Messages: 623

    Depends on cash reserves and such. We usually buy most stuff in december if we need some write offs and then we pay cash. Skidloaders and trucks we usually finance because these tend to bring in more income over their life and most deals have been low for a number of years. As rates change things may change. I usually consult my accountant on big purchases. We have even leased in the past and that worked out real well, so if I had my choice I would always pay cash, but a lot of variables come into play.
  7. LwnmwrMan22

    LwnmwrMan22 LawnSite Platinum Member
    Messages: 4,373

    As long as manufacturers keep offering 0%, I'll keep financing.

    Whether it's Dodge for 0% for 5 years, sometimes 6 years if you keep your eye peeled, or Kubota for 36+ months.

    Sheffield Financial will finance just about anything in the green industry if your dealer is set up with them, and usually for 2 years, if not 3 at 0%.

    The Yard Card will usually get you 0% for 2-3 years as well if you watch, or ask your dealer to watch for the deals.

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