mower payments? help

Discussion in 'Business Operations' started by mbean408, Nov 1, 2010.

  1. mbean408

    mbean408 LawnSite Member
    Messages: 74

    hi everybody, im matt, 18, and im running 30 mowing accounts and 25 annual maintenance accounts. im getting to the point where i dont know if i can rely on my 10+ yr old wb's. although they look, run, and operate flawlessly, im starting to become weary that one day, when i have alot stacked against me, one may break down and leave me stranded. i need piece of mind so i would like to purchase a brand new hydro wb 48", toro, exmark, grandstand, something of that nature.

    Can someone please let me know about how much id be paying per month for equipment like this?

    i have already established pretty good credit so far, so getting it financed isnt going to be a problem, i just think that if payments are under $200 it'd be worth the piece of mind and reliability, especially with just enough time to run my business with college

    Thanks for any responses, im trying to grow a little bit more and i dont want my business to bury me alive due too older equipment.
  2. madisonpressurewashing

    madisonpressurewashing LawnSite Senior Member
    Messages: 366

    I would save my money and look for a sale this winter
  3. G. Ramey

    G. Ramey LawnSite Senior Member
    Messages: 376

    You can find payment estimators online. Just decide what you want and how much it will cost you. Then find out what your interest rate will be. You can apply at your bank or credit union or Sheffield or Yardcard or who ever you want to use. They will tell you what rate you would be getting.
  4. fl-landscapes

    fl-landscapes LawnSite Silver Member
    Messages: 2,542

    sounds like you have enough business to justify the purchase. The finance charges are 100% write off on your taxes as well.
  5. OrganicsMaine

    OrganicsMaine LawnSite Senior Member
    Messages: 553

    I agree with that. Save your money....have a rainy day fund set aside for your business so that if something does go wrong with one of your mowers, you will have it financially covered. Hopefully you have a good relationship with your dealer. Wbs are pretty basic, especially if they are belt driven. worst thing that can happen is the motor blows, and that is probably a 2-3 hour fix max, if your dealer has the motor in stock, and you are good at the mechanics, then you will only lose about a half day. Plan for it and it won't even be that bad, find a new engine on sale, and keep it at your shop, then all you will need to do is swap it out.

    Doing this part time, I just wouldn't recommend payments. Milk those machines as long as you can.

    JMO! Good luck.
  6. Richard Martin

    Richard Martin LawnSite Fanatic
    Messages: 14,699

    Around $5500 should run you just under $200 a month on a 36 month term. Maybe as low as $170. Great credit is priceless.
  7. Fleur De Lawn

    Fleur De Lawn LawnSite Member
    Messages: 197

    buy a zero turn rider. They cost about the same price.
  8. mbean408

    mbean408 LawnSite Member
    Messages: 74

    i agree with what you guys are suggesting, i was just weighing other options for next year, my only problem with these mowers is hills, theyre horrible and it takes a lot of manhandling
    to keep them under control. i despise the dayswhere i haveto cut my hilly accounts, but i can always get by if itll save me a lot of money in the long run
    thanks alot for the responses!
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  9. AI Inc

    AI Inc LawnSite Fanatic
    Messages: 26,824

    Up the price on the hillys, you will not hate them so much.

    CLARK LAWN LawnSite Silver Member
    Messages: 2,526

    ya if you multiply the cost by 2

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