Ron Werner
Member
What is a reasonable amount to be paying a month?
$1000
<1000>1000
I know it depends on individual's finances. But roughly how much?
$1000
<1000>1000
I know it depends on individual's finances. But roughly how much?
Monthly payment for new equipment
- Thread starter Ron Werner
- Start date
Scott Rogers
Member
- Joined
- Oct 7, 2006
- Messages
- 1,033
I would factor in current gross income and expected future income, and how is this equipment going to help you achieve that growth.
1000 may be a bargain, or it may be a total waist of money. It all depends on what it is going to do for you.
1000 may be a bargain, or it may be a total waist of money. It all depends on what it is going to do for you.
Ron Lippold
RIP
1147 a month for a mighty V
steve frasier
Supportive Member
for a couple of more years you can get a Vortex, I know that when I priced things a little while ago for new equipment, A Vortex seem to make a lot of sense
for a little more a month and a another year or 2 you get easily 2 times the machine
plus the machine will hold value better then anything else out there
for a little more a month and a another year or 2 you get easily 2 times the machine
plus the machine will hold value better then anything else out there
R
R W
Guest
I paid cash for my Genesis 59 in 2003 (just under $20,000), but financed the truck at $400 a month for 60 months, 0% finance rate. (a 2003 Chevy 2500 EXT, HD suspension, air, power windows and locks).
So it would have been in the $900 range. If you can do $1000, then I'd shoot for a Vortex.
So it would have been in the $900 range. If you can do $1000, then I'd shoot for a Vortex.
The monthly payment isn't too much higher than what I have, 2006 Chevy with a '06 BlueWave at about $880 a month. But, that was $1k down on the machine, zero down on the van with GM's good rate also.
Correct me if I'm wrong, but to get those kind of payment numbers with the V you need to put down 10% and it's for 7 years in comparison to my 5 year notes. This time around I did a Business equipment loan instead of a lease so there is no buyout at the end. The monthly payment is not exactly a fair comparison.
Ron, if you don't mind me asking, is yours a lease, what was the down payment, and how much is the buyout if you have a lease?
Correct me if I'm wrong, but to get those kind of payment numbers with the V you need to put down 10% and it's for 7 years in comparison to my 5 year notes. This time around I did a Business equipment loan instead of a lease so there is no buyout at the end. The monthly payment is not exactly a fair comparison.
Ron, if you don't mind me asking, is yours a lease, what was the down payment, and how much is the buyout if you have a lease?
Ron Lippold
RIP
no lease down was 4500 no buy out
bob vawter
Grassy Knoller
I'd pay bobvawter $5000.00 down on a Genie wit $ 0.00 easy monthly payments!
HydroDude
Member
I'm dang near 100% debt free...plan to keep it that way. If I can't pay for it or pay it off with in 30 days, I'm not getting it!
J Scott W
Member
I took the average days gross over a year, not my best days or wishful thinking. When I was starting out, it was a conservative estimate of what I would be making once the new equipment was put to use.
Equipment debt payments should not exceed 3 days income per month. So, if your average day was around $333 then you could make monthly payments up to $1,000.
Of course, if can accomplish what you need with less payments, that is always a good thing. Have a plan for equipment to produce income before you purchase it. Any new tools should be able to pay for themselves.
Scott Warrington
Equipment debt payments should not exceed 3 days income per month. So, if your average day was around $333 then you could make monthly payments up to $1,000.
Of course, if can accomplish what you need with less payments, that is always a good thing. Have a plan for equipment to produce income before you purchase it. Any new tools should be able to pay for themselves.
Scott Warrington
The Preacher
Member
- Joined
- Oct 13, 2006
- Messages
- 3,401
for a southern baptist mormon, Scott makes alot of sense!!!
Becker
Member
1997 I agreed to $1355 per month.
New van, water tank, hose reel, TM, hydraforce, blower, some other extras
New van, water tank, hose reel, TM, hydraforce, blower, some other extras
just out of past experience from seeing other people start up carpet cleaning businesses....id stick with a machine that will support how many ever wands you plan on using most of the time.if you plan on dueling it buy something big....if its just gunna be you....why buy more than what you need? lol
G
Guest
Guest
Tim, I'm buying my 06 Butler at $904 a month and no money down, and I had a lease that was only $ 699 a month and no money down
I personally think that pricing has very little to do with it..you are setting up a business....are you planning on doing tile...dual wanding?...etc etc...price isnt the factor here i dont think. I guess thats easy for a supplier to say....but i personally think it should be based on what you want to clean, and how much of it you want to clean ...and also how fast you want to clean it. if you dont have plans to dual wand....why buy a dual wand machine? catch my drift....are you willing to buy a used van to put your equipment in? And speaking of tools....do you buy snap on? or craftsman? I dont always think it is wise to base every thing on price. Matching your equipment to your needs and goals is what i would suggest you do, then you can see what you will be able to base your payments on each month to pay for what you actually need . it isnt price...its necessity..... and how much necessity costs to make you a profit
Ron Lippold
RIP
snap on
There are other things to consider also . Business and truck insurance. A little extra for things that can go wrong with your new truck brakes,tires you know what i am talking about. I have a 2007 Butler with all the bells and whistles for 975.00 a month. Talked to greenie and got 90 ft of two and half inch hose and greenhorn wand. Then bought a RX20 new for 1000.00 cash guy needed the money. It all adds up but sure makes the job alot easier.
