I'd consider checking in with Live Oak bank. Don't know what their rates are, but they have a program oriented specifically toward our industry.
On Fri, Feb 28, 2020 at 5:36 PM Dev <d...@logicalwebhost.com> wrote: > We had a company quote us 7%, but our math came out to 12%, they disagreed > no matter what we said. Aren’t they required to disclose the real rates? > > IIRC Ritalia was around 12% or so, so expensive money. > > I wish our credit union could be bothered to consider it, but they have a > fresh stack of blank stares from all staff. > > I heard banks in the Midwest were more used to equipment financing. Don’t > want to buy new at 2-3X the price because they have a good deal on > financing. > > On Feb 28, 2020, at 16:21, Forrest Christian (List Account) < > li...@packetflux.com> wrote: > > > > And don't fall for the 'lease rate' crap the leasing companies push. > > Let's say you get a 5-year lease on a 100K piece of equipment. The > leasing company will quote you a leasing rate of something like 2.5%, with > a payment of $2500/month, with a dollar buyout. The naive assumption is > that 2.5% is the interest rate. Which would be a great rate. > Unfortunately, this isn't actually what it is. Instead, 2.5% is the > amount of the total purchase you pay each month. So this means your > payment is 100K * 0.025 = $2500 per month. > > If you take "100K, 5 Years, 2500/month" payment and stick it into a loan > calculator, you'll find that the rate is actually 17.274%. Which is pretty > bad. > > It's even worse that the sales people will tell you to your face how great > the rate is and how it's better than your bank. And then argue with you > when you tell them how bad it really is. > > > > On Fri, Feb 28, 2020 at 2:28 PM can...@believewireless.net < > p...@believewireless.net> wrote: > >> Ritalia has horrible rates. Other companies are better. Your bank is >> probably the best. >> >> On Fri, Feb 28, 2020 at 4:07 PM Jeff Broadwick - Lists <jeffl...@att.net> >> wrote: >> >>> +1 on Ritalia! >>> >>> Also done well with Summit and LCA. >>> >>> Jeff Broadwick >>> CTIconnect >>> 312-205-2519 Office >>> 574-220-7826 Cell >>> jbroadw...@cticonnect.com >>> >>> > On Feb 28, 2020, at 2:53 PM, Graham McIntire <gra...@vntx.net> wrote: >>> > >>> > We did a lease/finance through Ritalia and had great luck with them. I >>> > can't say we had a great rate (I don't remember what it was,) but they >>> > were easy to deal with and worked out well. >>> > >>> > Graham McIntire >>> > Verona Networks >>> > President/Owner >>> > >>> >> On Fri, Feb 28, 2020 at 2:40 PM <ch...@wbmfg.com> wrote: >>> >> >>> >> I have had a pretty good experience with John Deere on both rent to >>> own and >>> >> lease on a couple of mini excavators. >>> >> Just ask the dealer for dealer financing. >>> >> >>> >> -----Original Message----- >>> >> From: Dev >>> >> Sent: Friday, February 28, 2020 11:32 AM >>> >> To: AF@af.afmug.com >>> >> Subject: [AFMUG] equipment lease/purchase companies >>> >> >>> >> Has anyone had a good experience with equipment lease/purchase/finance >>> >> companies for things like mini-ex, directional bore, etc? Our local >>> banks >>> >> are totally clueless on equipment, so you have to go find a broker >>> (who >>> >> takes a cut) who shops it to an out-of-state non-retail bank. >>> >> -- >>> >> AF mailing list >>> >> AF@af.afmug.com >>> >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> >> >>> >> >>> >> -- >>> >> AF mailing list >>> >> AF@af.afmug.com >>> >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> > >>> > -- >>> > AF mailing list >>> > AF@af.afmug.com >>> > http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> >>> >>> -- >>> AF mailing list >>> AF@af.afmug.com >>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> >> -- >> AF mailing list >> AF@af.afmug.com >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >> > > > -- > - Forrest > -- > AF mailing list > AF@af.afmug.com > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > > -- > AF mailing list > AF@af.afmug.com > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > -- - Forrest
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