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Sheffield Financial

Discussion in 'Western Plows Discussion' started by anj4ever6236, Nov 17, 2009.

  1. Has anyone financed with sheffield financial? How does it work? Trying to get some help because there site really doesn't say anything.
     
  2. millsaps118

    millsaps118 Senior Member
    Messages: 694

    What are you trying to finance? Just fill out the app and submit it. If you plan on buying a piece of equipment at a dealer, just let the dealer submit it for you. You have a better chance getting approved this way then doing it on your own, the dealer can pull some strings to push an approval better then you would be able to on your own.

    Good luck.
     
  3. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    I used them for my mowing stuff. Little high on the rates though. Try a local bank or join a credit union if you need to finance it
     
  4. Brian Young

    Brian Young PlowSite Veteran
    Messages: 3,382

    We use them for a rider (mower) we financed, they are great to deal with. They gave us a better rate than any local bank did for a small business loan....like 7 or 8% fixed rate. I dont know what their rates are now but again, they seem to be good to deal with.
     
  5. Trying to get a plow had one but got stolen and my old truck got wrecked insurance didn't cover the plow wtf.....and I'm low on cash I filled the application but it got denied :( now I don't know what to do...
     
  6. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Lack of time in the biz or credit?
     
  7. millsaps118

    millsaps118 Senior Member
    Messages: 694

    Just go to the dealer and tell them you applied and got denied. The dealer might be able to call them and ask them to reconsider. Like I said, the dealer has a little pull with Sheffield since they use them to finance buyers. If it's a dealer you have done business with, more then likely he'll go to bat for ya.

    Maybe try your bank.
     
  8. Brian Young

    Brian Young PlowSite Veteran
    Messages: 3,382

    Man that sucks big time! Only thing I can suggest given your situation is jump on doing sidewalks. Hell you might even make more money. Thanks to an ex-wife years and years ago my credit went to crap and I couldnt do anything! Now all is good but I remember those bitter days.
     
  9. Yea I'm trying to get a plow from Delf's Garage in Waukegan trying to get a western midweigth. I'm willing to take atleast 1000 When I go. But as of this hard times my credit sucks..i make my payments this summer I really saw hard times and was behind 2 months on somethings and messed everything up then my truck got trashed then on sat nite they stole my lawn equip from garage son of a....i mean I'm not a big lawn company I have 19 accounts good thing the season is over. Now I have to start all over on equip just my luck huh...And for the walks I was thinking about it but already got 6 driveways and parking lots signed so turning back now.sorry for the long sob story
     
  10. millsaps118

    millsaps118 Senior Member
    Messages: 694

    If you have a 1000, why don't you ask a parent, sibling, friend, relative etc... who knows your situation to help you out with a loan and buy something used. Borrow $1500 from someone and pay them back. If you have a few accounts already signed it shouldn't be hard to pay back $1500 -v- $3500 + tax & interest on a new unit.

    It's always nice to have new equipment but sometimes you just have to make the best out of bad situation.

    Good luck........
     
  11. Yea I already tried but everyone is just as broke.
     
  12. RepoMan207

    RepoMan207 PlowSite Fanatic
    from Maine
    Messages: 5,033

    Sheffield has a 700 or better score cap I believe. I wanted to do it under my tax id & duns # because my companies credit is spotless, but they also look at your social. I was trying to finance a new polycaster and got denied, I then tried the wife and they said yes....Then I said no. They wanted 13% with a 720 score!

    Have you tried that new D&D Financing yet?
     
    Last edited: Nov 17, 2009
  13. Wow. No I'm new to the whole financing thing all thos $ confuse me I always paid my stuff cash...
     
  14. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    And now you learned about credit in the business world. Sometimes cash isn't king!
     
  15. 33yearsinsnow

    33yearsinsnow Senior Member
    from ohio
    Messages: 111

    have you gone to you dealer to discuss this with them? i assume you are looking for a Western plow. Western has started there own credit source called douglas credit and although the interest rate is high approx 15.9% it is lower that Sheffield. try your dealer as he will do what he can to get you the credit as he wants to sell you the plow
     
  16. Im going to go saturday see what happens thanks for all comments.
     
  17. millsaps118

    millsaps118 Senior Member
    Messages: 694

    Worst case scenario, you do sidewalks this year and sub out ur plowing accounts.
     
  18. Jenkins12

    Jenkins12 Junior Member
    Messages: 27

    Sheffeild sucks in my opinoin. The place where i get my plows on the application loan it stated 17.99% which is totally high.
     
  19. nekos

    nekos Senior Member
    Messages: 586

    Ok, First off no one will lend you $1k - $1.5k. It's not worth it to any bank to finance such a small amount. That's what pawn shops are for. They usually have minimum's of $4000 or more. Anything less wont even be looked at and instantly denied.

    2nd, Put it on a credit card. You will actually pay less then financing threw some ****** little bank like Sheffield. I looked into using Douglas credit this year and had to pay documentation fee's, %18 interest ... I ended up just putting my latest plow on a credit card at 4%. Give your credit card company a call and tell them your planning on making a large purchase. They will usually try and lower your interest rates. They want your money and will try and get it from you. If your credit is bad enough to where you can't get a credit card with $5k - $10k + credit limits, you wont get financing threw any one anyway.
     
  20. Mark Oomkes

    Mark Oomkes PlowSite Fanatic
    Messages: 10,868

    Sorry GV, credit is what has gotten us--the country as a whole--into the mess we are in.

    I love this kind of financing. 12 months 0%, no payments. I will buy a mower and pay it off 100% before the first payment PLUS 12 MONTHS interest--is due. Happy to use their money for a year. BUT, I only do it when I can pay it off.