Equipment purchasing. Financing or not?

[canadianclimber]

Hey, Curious on what people prefer to do when purchasing equipment in the 15k-30k ish range? Do you finance or save to buy out right? Any info or experience you want to pas along would be great.

 

[SeanKroll]

My neighbor said that if you are in a bind and want to borrow $30k, you are screwed. If you finance the equipment and get in a bind, the bank wants to keep getting payments, as able, during the bind. They don't want your chipper.


Having enough equipment that keeps going to jobs makes the money easier making payments.



Can I make $700 bucks a month more with $35k of more equipment?
Yes, but only if I'm making good decisions, choosing the right equipment and pricing right.

 

[flushcut]

Which has a better write off? Either way, I would hope, the machine is going to make money.
Borrow their money, keep your money, make a payment or two ahead so the interest rate is nonexistent, or make a payment and half extra a month pay it off sooner increase your credit score. All while you are making money.

Buy it out right, spend your money, make money to replace the money you just spent.