The Yard Card, traditionally used by landscape contractors to finance purchases, is now accepting pressure cleaning contractors. This is a private label revolving credit card, issued by TD Bank, NA. The APR is 28.99%, however special promotional rates are available. Right now we are offering 6.9% APR for 48 months on equipment purchases. Call or email me for an application.
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Russ Johnson Southside Equipment, Inc Pressure Cleaning Equipment Service Chemicals Louisville, KY 888-243-6506
We had at one time a leasing company when we bought our John Deere Skid Steer and it was leased with an option to buy at the end for like a dollar buy out. Not sure what the difference may be but I understand lenders are a less skittish with lending of that type. Being that they technically own it it can be repo'ed if need be. Something to check into?? Here is one I have found:
The only drawback to leasing is the fact that you're locked in full term. With the Yard card, it's a credit card, so you can pay it off quicker if you like, and save interest. The 6.9% promotion means that for the first 4 years, you're interest rate is reduced to 6.9%, but if you stretch it out longer than the 4 years, it reverts to the then current standard rate, currently 28.99%.
And, I have actually reposessed equipment at the leasing company's request.
-- Edited by Southside Equipment on Wednesday 26th of October 2011 09:09:59 PM
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Russ Johnson Southside Equipment, Inc Pressure Cleaning Equipment Service Chemicals Louisville, KY 888-243-6506