Financing a mower?

Discussion in 'Lawn Mowing' started by TopQualityLawnCare, Feb 4, 2013.

  1. I have done 2 0% deals so far since being in biz and neither required a penny down. The only thing is that you make equal monthly payments which is better bc it keeps you honest and gets you to the payoff without paying deferred interest charges. In th OP case, the financing is great bc he has cash for other purchases like 2 cycle stuff or he can keep it in the bank. Plus, he NEEDS to build his credit and this would be the perfect way to do it.
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  2. skorum03

    skorum03 LawnSite Senior Member
    Messages: 354

    I see what you're saying now. I guess I just assumed that by buying a machine that is probably what maybe 10 grand brand new right now depending on what he's looking at I figured he might have to put something down but if he doesn't, then it totally makes sense to finance it and build his business while not spending all of his money. Thanks for the insight.

    YardBros Outdoors
  3. No problem. Financing, if done right, is a great business tool. Loot at the OP. he said he already had issues with used mower. Now he had to outlay more cash and had immediate downtime....
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  4. ztman

    ztman LawnSite Bronze Member
    Messages: 1,115

    Have you tried using the mower that wont start as a trade in
  5. inzane

    inzane LawnSite Silver Member
    Messages: 2,478

    lol, they don't want it. I just went to the gravely dealer this morning. i can get a 36" floating deck, belt driven new for 3199 0% for 3 years. i would put 1500 down. would probally be around 50 a month i guess.. i could pay it off in a year.. but makes me sick i almost got 1500 into a used machine. I brought it back to the shop, and they are looking it over.. It may be something simple... I'm hoping to get one season out of this used machine, and then get a new one for next season if all is still going well.

    If i could go back in time about 8 weeks, i would have went and financed the new gravely without hesitation! (like my wife tried to talk me into) :laugh:

  6. dstifel

    dstifel LawnSite Senior Member
    Messages: 928

    Wise man told me once that millionaires rarely buy BRAND new cars and they are millionaires because they are very smart. I know new cars are different then a machine you rely on to make you money day in and day out but every time i want to go finance a shiny new machine i keep that in the back of my head and it really helps me double check myself to make sure i really need what I'm buying. just a thought.
  7. inzane

    inzane LawnSite Silver Member
    Messages: 2,478

    i hear ya there, but a wise man once told me that grass don't get cut with a lawn mower that won't start. :waving:

  8. Yea, true, but he needs a reliable machine. It's a need. People that buy cars and roll negative equity all the time obviously don't know how to manage money that well.
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  9. larryinalabama

    larryinalabama LawnSite Fanatic
    Messages: 19,643

    Thats funny, but having a payment doesant automatically mean a lawnmower wont break.
  10. inzane

    inzane LawnSite Silver Member
    Messages: 2,478

    yeah, i know.. but the my odds may be better. :laugh: but honestly, my luck is bad, i will probally end up with the new machine that breaks on the 2nd day of using it.


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