Re: [AFMUG] equipment lease/purchase companies
We have done some with LCA and process has been fine but rates a bit high. Latest equipment we have financed through the dealer at around 5-5.5% I believe. On Fri, Feb 28, 2020, 1:33 PM Dev wrote: > 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
Re: [AFMUG] equipment lease/purchase companies
Might check with John Scrivner at Live Oak Bank. He is the ISP/Broadband rep there, IIRC. Ryan -Original Message- From: AF On Behalf Of af-requ...@af.afmug.com Sent: Friday, February 28, 2020 4:20 PM To: af@af.afmug.com Subject: AF Digest, Vol 21, Issue 479 -- Message: 1 Date: Fri, 28 Feb 2020 16:27:14 -0500 From: "can...@believewireless.net" To: AnimalFarm Microwave Users Group Subject: Re: [AFMUG] equipment lease/purchase companies Message-ID: Content-Type: text/plain; charset="utf-8" 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 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 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 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. > >> --= -- next part -- An HTML attachment was scrubbed... URL: <http://af.afmug.com/mailman/private/af_af.afmug.com/attachments/20200228/ac a2b0f7/attachment-0001.html> -- -- Subject: Digest Footer == -- End of AF Digest, Vol 21, Issue 479 *** -- AF mailing list AF@af.afmug.com http://af.afmug.com/mailman/listinfo/af_af.afmug.com
Re: [AFMUG] equipment lease/purchase companies
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 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 >> 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 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 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 -- AF mailing list AF@af.afmug.com http://af.afmug.com/mailman/listinfo/af_af.afmug.com
Re: [AFMUG] equipment lease/purchase companies
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) 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 >> 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 >>> 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 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 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
Re: [AFMUG] equipment lease/purchase companies
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 > 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 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 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
Re: [AFMUG] equipment lease/purchase companies
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 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 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 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
Re: [AFMUG] equipment lease/purchase companies
+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 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 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
Re: [AFMUG] equipment lease/purchase companies
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 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
Re: [AFMUG] equipment lease/purchase companies
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
Re: [AFMUG] equipment lease/purchase companies
Another approach would be a line of credit, which again, they don’t care what you buy. Once upon a time those were easy to get, and they are usually indexed to prime rate. But the days when your local bank would go into the vault and bring out a wheelbarrow full of money and ask are you sure you don’t want more, those days are long gone. From: AF On Behalf Of Josh Luthman Sent: Friday, February 28, 2020 1:33 PM To: AnimalFarm Microwave Users Group Subject: Re: [AFMUG] equipment lease/purchase companies Wouldn't a lease from them for a machine be like 10% though? That's awfully expensive. Josh Luthman Office: 937-552-2340 Direct: 937-552-2343 1100 Wayne St Suite 1337 Troy, OH 45373 On Fri, Feb 28, 2020 at 2:23 PM Erich Kaiser mailto:er...@northcentraltower.com> > wrote: We use Lease Corporation of America for all of our leases, they don't care what you buy. Erich Kaiser On Fri, Feb 28, 2020 at 12:33 PM Dev mailto:d...@logicalwebhost.com> > wrote: 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 <mailto:AF@af.afmug.com> http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list AF@af.afmug.com <mailto: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
Re: [AFMUG] equipment lease/purchase companies
Wouldn't a lease from them for a machine be like 10% though? That's awfully expensive. Josh Luthman Office: 937-552-2340 Direct: 937-552-2343 1100 Wayne St Suite 1337 Troy, OH 45373 On Fri, Feb 28, 2020 at 2:23 PM Erich Kaiser wrote: > We use Lease Corporation of America for all of our leases, they don't care > what you buy. > > > Erich Kaiser > > > > > > On Fri, Feb 28, 2020 at 12:33 PM Dev wrote: > >> 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
Re: [AFMUG] equipment lease/purchase companies
We use Lease Corporation of America for all of our leases, they don't care what you buy. Erich Kaiser On Fri, Feb 28, 2020 at 12:33 PM Dev wrote: > 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
[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
