Re: Equipment Financing - Holy Crap !!!

[NickMark <nmarkowitz@xxxxxxxxx>]

On Sunday, August 5, 2012 5:44:19 PM UTC-4, Bob La Londe wrote:
> As some of you might be aware I dabble in other fields, but this item kin=
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> of overlaps.  I've been doing some CNC machining making parts on the side=
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> for the last few years.  All of my saleable work is done with desktop hob=
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> level machines.  My big holdup has really been that I just can't make man=
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> parts on the desktop machines before I have to tear them down and rebuild=
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> them.  I do have some repeat customers though, and I do make a few dollar=
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> on it.
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> I recently decided to try and step up a little bit and see if I could=20
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> finance a couple slightly larger more robust machines.  Most outfits=20
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> wouldn't even talk to me since I have not been in the CNC machine busines=
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> full time for atleast 2 years.  (I don't intend to stop being a contracto=
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> anytime soon.)  I did have a few though that said they would be glad to=
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> finance new equipment purchases...  at interest rates from 45% to 60%.  W=
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> Well, I am glad to see that every industry has its opportunistic sharks.=
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> Not just the alarm industry.
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> I decided it would be better to just sell some equipment and pay cash.  E=
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> at a loss on the equipment its cheaper than paying 45% or more on financi=
ng.

I take care of electrical issues at several machine shops and they all scre=
am about price of new machines thats why there's such a big used market I h=
ave seen relays and starters and transformers etc i replace on machines go =
triple fold in price in last 10 years. It is out of hand