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how long it took to pay off your equipment?

Discussion in 'Introduce Yourself to the Community' started by Brian's Lawn, Nov 30, 2006.

  1. Brian's Lawn

    Brian's Lawn Senior Member
    Messages: 120

    im just wondering how long it took to pay off some of your guys plows and spreaders? how many years? F.Y.I. i live in central ohio in case this helps on determining how long it would take.


    i was thinking of buying a plow next year and was wondering if it would pay itself off in a year or so


    thanks
    -brian-
     
  2. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Paid off ? What's that?payup :confused: :cry: :D
     
  3. jcesar

    jcesar Senior Member
    from Mi
    Messages: 492

    Well, if you do it right, it should pay for itself in a year. I bought my first plow used, and it paid for itself before I bought it. The next 2 were new, and again, paid for by themselves. Hope this helps.
     
  4. Brian's Lawn

    Brian's Lawn Senior Member
    Messages: 120

    that does help. im thinking i might get into plowing next year or the next. we'll just see how things go. i wouold really like to but i just dont know if we get enough snow for me to pay it off. i would probably be a sub and get most of my work that way. subs around here get paid ok if you ask me
     
  5. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Your area is a little lite on snow. Maybe get hooked up with a company or a solo guy and offer snowblowing for a year or two and watch and learn.If you do buy a plow don't do what some do and put it on a charge card it will never get paid off,better to get a short term loan and kept your cash available (unless you have a lot)!
     
  6. Rcgm

    Rcgm Senior Member
    Messages: 613

    :confused: I put my plow on a credit card.Been 2 months I got 14 hundred of her paid off so far.


    RCGM
    Brad
     
  7. Grn Mtn

    Grn Mtn PlowSite.com Addict
    Messages: 1,644

    I take any up-front money from my accounts and buy equipment with it. This way your not wondering where the money is going to come from. And if I didn't have the money up-front than I would have to think hard about such a purchase.
     
  8. NoFearDeere

    NoFearDeere PlowSite.com Addict
    Messages: 1,715

    I put mine on a credit card for the first couple months because of 0% at the time. After 6 months, I paid it off. I would say where you are at geographically, to be safe, I would go 2 years before paid off. ;)
     
  9. Rcgm

    Rcgm Senior Member
    Messages: 613

    I am doing the same thing 6 months 0 % thats why I am chunking away at it.But if I only paid it off with snow money I would agree with POP and say 2 years.Unless we get that blizzard that we are well over due for:redbounce

    RCGM
    Brad
     
  10. Superior L & L

    Superior L & L PlowSite Veteran
    from MI
    Messages: 3,039

    It takes 30 seconds to pay for a plow. (write a check)
     
  11. QMVA

    QMVA Senior Member
    Messages: 431

    The rule of thumb I heard was that your first year will pay for the plow and equipment the second year is when you make some cash.payup My set-up payed for itself in two years but thats one large account and only a few snow storms last year.
     
  12. daninline

    daninline Senior Member
    Messages: 430

    I paid for my truck in 1/2 a season it's a older truck 1994 F250 with a 8 foot Fisher.
    Plus I do all my own work so when it breaks or any work I do to it is much cheaper.
    I would say I put about a grand into the truck each year to keep it up parts only.
    Now I went and got a spreader, next year a 2nd truck for a back-up
    It sleeps on a lift the night before a storm :)
     
  13. Rcgm

    Rcgm Senior Member
    Messages: 613


    But some of us aren't big ballers like you I guess and can just whip out the check book.


    RCGM
    Brad
     
  14. ALarsh

    ALarsh Senior Member
    Messages: 203

    I agree. I paid cash.
     
  15. jce4isu

    jce4isu Senior Member
    Messages: 289

    i put it on truck loan i pd a little more but lower intrest if were to go to the bank and get a per. loan at least for me