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Red River Valley | 1) this operation does not have the money to sell it and then pay off the debt against it.
2) the easiest credit you can get is from the dealers finance plans
- to start with the manufacture will take on a high risk buyer because they get to make money on two fronts with them
a) They get to sell apiece of equipment that they manufactured - profit point 1
b) They get to make money on the finance package
- The dealer and salesman will make sure you qualify because they need to sell equipment and also the store needs the repair bill
Dealer or manufactures credit can be gotten with a credit score under 500 and with some kind of down payment under 400
Private selling will most likely leave any major piece of 3 year old equipment with $50,000.00 of uncovered debt.
and I think it is unrealistic to believe that anybody having to sell that equipment has that kind of cash laying around. | |
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Depreciation
