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The Finance Process
Everything is really simple and it all begins with you filling out one simple loan quote form. With just basic information, you can complete the form in a couple of minutes. Once you are done completing your form, simply hit submit and the magic begins.
Unlike retail financing, you will be dealing with a loan network and that is a very good thing. When you apply at a retailer, you are dealing with one lender with one set of requirements. If you are looking for a zero turn mower financing with bad credit, this makes life hard. Don’t meet their expectations and you get denied and that is it. If you have bad credit, it is very likely you will get denied.
Lender networks are very different. Fill out one form and your info will go from lender to lender until one is found that wants to offer you a loan on a zero turn mower. It is the easiest way to get an approval despite having bad credit.
Once you have your offer, you will get the chance to review all of the terms of your zero turn loan. If you like it, you can accept the loan and your lender will get you the loan money you need ASAP. If you do not like the loan, you just turn it down and go about your business.
Once your money is deposited into your bank account, you can use it however you like. Buy a mower new from a dealer or dive into the used market. You might be able to buy a used professional quality mower for the same price as a residential mower.
That is the great thing about using an installment loan over a store credit. You can shop how you like and get the mower that is right for you.
Why Loan Monkey?
Loan Monkey is not a direct lender but we can still help you get financing when you have been unable to get it elsewhere. With our website, you can get access to one of the largest networks of lenders on the internet. This can allow you to get zero turn mower financing with bad credit. A large network will have more lenders ready to work with bad credit. Lenders that can offer you the monthly installment loan that you need.
In addition, if you get approved, you will get your loan in cash. It will be deposited directly into your bank account. This is a huge advantage to traditional financing.
The ability to be a cash buyer is a huge advantage. If you were to get approved by a retailer, you would have to shop at one store with probably just one brand of zero turn to choose from.
If you have cash in hand, you can go to any dealer that you like. Play dealer against dealer to get the best price. If you can purchase anywhere, you have much more negotiating power.
Lastly, cash gives you one more power. You can buy from the used market. This can allow you to buy a residential zero turn for the price of a standard garden tractor. It also allows you to buy a high power commercial zero turn for the price of a residential model. It is a great benefit if you want to let somebody else take the initial depreciation.
As with any loan, you should always ask yourself if the price of the loan is worth it and if you have other options.
Whether the loan is worth it will in all likelihood come down to one thing. Are you a commercial or residential mower.
If you have bad credit and want a residential mower, you may be better off waiting and saving. Perhaps you can get by with a standard garden tractor until you can afford to purchase the zero turn of your dreams. Take the money that you would spend on payments and save it for the mower or put it towards your other revolving credit so that you can approve your score.
If, on the other hand, you are a commercial mower, it might be all different. Even at a bad credit interest rate, the purchase and loan could be worth it. It could allow you to make a great deal of money, which would greatly overcome the financing costs. Sometimes you have to do what you have to do to progress your business and even at high interest, the loan might just more than pay for itself.
Paying Your Loan
If you are a commercial mower, paying for your zero turn financing is a no brainer. Simply do the work that the mower allows you to do and make your payment.
If you are using the mower for residential use, you will need to fit the payment into your regular household payment. Take your budget and add in the cost of the loan payment. If it works, fantastic. If not, let’s make a couple changes.
The first change that you could make would be cutting some expenses. This is the easiest route. If you are going to come up short, simply cut your cable bill or stop going out to lunch every day. Just a few sacrifices a month can make a huge difference and can pay for your entire zero turn purchase.
The other choice is to add some extra income. You can do that by using Uber or Lyft to add a couple hours of work a week. Uber advertises an average of 25 dollars an hour so working just 4 hours a week would be 400 dollars a month. That should go a long way towards paying your mower payment.
Choosing Your Zero Turn Mower
Now that you have your financing, you need to choose your mower.
The first thing that you need to decide on is whether to go commercial or residential. If you have a small lawn, a residential mower will probably be fine for you. For a larger yard or if you are a professional, a commercial mower is the way to go. Commercial mowers will have stronger decks, more powerful engines and will generally be built to handle more abuse. They will cost you though with an average commercial zero turn starting at around 8000 dollars.
Next, you need to look at the size of mower that you need. If you cut around two acres, a 54 inch deck will do. If you have a larger property, a 60″ deck might be appropriate and a seriously big lot might be well suited for a 72″ deck on a commercial mower. Keep in mind that as you increase the size of your zero turn cutting deck, you decrease maneuverability. If you have a lot of trees and obstructions, a smaller cutting path may be best even if you have over two acres.
When making your zero turn mower decision, choose carefully. This is an expensive piece of equipment that should last you 10 years or more. This means that you are going to be stuck with whatever you decide on for some time. Make a smart choice and get the mower that works best for you. If in doubt, ask neighbors what they use and see how they like their choice. There is no replacement for real world experience with a lawn mower or any large piece of equipment.