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Urgent Please Give Your Input

Discussion in 'Lawn Mowing' started by Chris Aurelio, Mar 5, 2002.

  1. Chris Aurelio

    Chris Aurelio LawnSite Member
    Messages: 7

    alright tomorrow im going to go get a loan for a truck that i need to run my buinsness.Its a 95 gmc.My question is it is worth 7,000 im buying it for 5,000.my payments are only $200.00.Should i borrow another grand to have some money to sink into my buisness to help it get started?If you think i should get another grand what should i spend it on?I already got new walkbehind,blow,trimmer trailor and hand tools?

    Chris :blob2:
  2. stslawncare

    stslawncare LawnSite Bronze Member
    from DE
    Messages: 1,484

    welcome to lawnsite! i am not familier with loans and all that stuff, however as far as getting started as long as u have a truck, trailer, mower, wacker, blower u are pretty much set. do you have a need for a push mower? do you already have one? do you need an additional mower for maybe a second crew in the near future? how about a back up? if i had an extra grand there is tons i could do with it lol. basically u gotta look at what u need right now, and what u might need in the near future.
  3. landman

    landman LawnSite Member
    from NJ
    Messages: 110

    Take what you can and run. If you can borrow money at a good rate take what they'll give you, you don't have to spend it, just keep it for a rainy day. The opportunity may not be there in the future when you need it. Plus if you come across a great deal in the future on equiptment or something, you can buy it with the borrowed money and not touch you operating account.

    LAWNS AND MOWER LawnSite Bronze Member
    Messages: 1,129

    I would get the extra money. $2,000 if you can. You never know when you'll have some unexpected expenses, especially if you're just starting out this year. If you don't need the extra dough, than just pay extra on your payments to reduce the principal.

  5. C4chris70

    C4chris70 LawnSite Senior Member
    Messages: 499

    It sounds like you already have the essentials to get started. Since you are just getting into the business you may want to do some advertising to get your name out there. I'm not sure I would borrow extra money for that at this point though. You can advertise by flier fairly cheaply. You just need to look at the interest rate you are being charged for the loan and decide if the extra $1000 is necessary right now. I would prefer to keep my overhead low in the beginning. Good luck!
  6. Green Care

    Green Care LawnSite Senior Member
    Messages: 530

    Welcome to the site

    Sure you might need some other things.

    If theres a good rate go !!!!!!
  7. 65hoss

    65hoss LawnSite Fanatic
    Messages: 6,360

    I think only you can decide this. Only you know how you handle money. If you will spend this uselessly then don't get it. You would be surprised at how fast you can blow a grand if you have it in cash sitting in front of you.

    I wouldn't. I would only be borrowing the necessary amount and that's it. No more than I really need.
  8. the point man

    the point man LawnSite Member
    Messages: 79

    Got liability insurance for your business?
  9. Chris Aurelio

    Chris Aurelio LawnSite Member
    Messages: 7

    yea couldnt beleive hoe cheep for 1 million dollors285 a year
  10. Tony Harrell

    Tony Harrell LawnSite Senior Member
    Messages: 739

    Who did you get your insurance from for that price? Also, what kind of new WB did you get and how much did you pay for it? Thanks

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