Equip financing -Atlantic Financial?

Discussion in 'Lawn Mowing' started by Guardian, Feb 3, 2002.

  1. Guardian

    Guardian LawnSite Senior Member
    from Florida
    Messages: 269

    I noticed a "equipment finance" ad in Grounds Maintenance mag for a company called Atlantic Financial. I talked with a loan officer there and it seemed that they were high on interest rates. They kept pushing for a lease. Anyone deal with these guys?

    I currently have a year left on a loan with Sheffield. PRO day is this week at my main dealer - I am considering a new loan.
  2. _GUNNER_8

    _GUNNER_8 LawnSite Member
    from TN
    Messages: 61

    just curious why would you want to use them anyways, don't u have local bavk you do business with?i would think u would get lot better rate with them.
  3. lawnperfections

    lawnperfections LawnSite Member
    Messages: 63

    If you can't buy it with cash then don't buy it.
  4. big james

    big james Banned
    from texas
    Messages: 152

    I am curious too ,why don't you use a local bank , I got some real bad stuff on my credit ..it;s a long story but my point is my local bank will still deal with me based on my record with them.and them alone.:confused:
  5. big james

    big james Banned
    from texas
    Messages: 152

    What a chicken **** remark that is ,
  6. KirbysLawn

    KirbysLawn Millenium Member
    Messages: 3,485

  7. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Messages: 4,771

    It would be nice to pay cash for everything, but that has to be the worse business advice to give anyone. I am glad I don't think that way!

  8. lakegastonla

    lakegastonla LawnSite Senior Member
    Messages: 296

    Some people try to play the "big guy" a bit too much. I also find that it is usually these same people who owe a payment on EVERYTHING they own.
  9. Turfdude

    Turfdude LawnSite Bronze Member
    Messages: 1,899

    Talk to your dealer. They can usually get you no payments and no interest for 6 months. Just make sure you pay the entire amount off by then. Send payments as often as you can. This way you're using their $$ for free. I have done this now for the last 3-4 years and I have had very little interest to pay as all most everything was paid before the 6 month period.
    BTW did this w/ z-rider, 200 gal spray tank, leaf vac, aerator and a few other larger equip purchases. Trimmers, blowers, and small stuff go on house account. Pay them off w/monthly statement.

  10. YLC1

    YLC1 LawnSite Member
    Messages: 72

    There may be some advantages by using a lease.A residual lease arrangement may have some tax advantages.On the residual lease you make monthly "lease" payments then at the end of the lease you purchase the equipment for $1.Talk to a tax advisor,this may work out for you.Richard

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