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Re: Equipment Financing - Holy Crap !!!



"NickMark" <nmarkowitz@xxxxxxxxx> wrote in message
news:e7e13211-35e0-4e20-b3b3-f326ad0291f7@xxxxxxxxxxxxxxxxxxx
> 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
>> kind
>>
>> of overlaps.  I've been doing some CNC machining making parts on the side
>>
>> for the last few years.  All of my saleable work is done with desktop
>> hobby
>>
>> level machines.  My big holdup has really been that I just can't make
>> many
>>
>> parts on the desktop machines before I have to tear them down and rebuild
>>
>> them.  I do have some repeat customers though, and I do make a few
>> dollars
>>
>> on it.
>>
>>
>>
>> I recently decided to try and step up a little bit and see if I could
>>
>> finance a couple slightly larger more robust machines.  Most outfits
>>
>> wouldn't even talk to me since I have not been in the CNC machine
>> business
>>
>> full time for atleast 2 years.  (I don't intend to stop being a
>> contractor
>>
>> anytime soon.)  I did have a few though that said they would be glad to
>>
>> finance new equipment purchases...  at interest rates from 45% to 60%.
>> Wow!
>>
>> Well, I am glad to see that every industry has its opportunistic sharks.
>>
>> Not just the alarm industry.
>>
>>
>>
>> I decided it would be better to just sell some equipment and pay cash.
>> Even
>>
>> at a loss on the equipment its cheaper than paying 45% or more on
>> financing.
>
> I take care of electrical issues at several machine shops and they all
> scream about price of new machines thats why there's such a big used
> market I have 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

Machine parts from machine manufacturers have really gone nuts for price,
but if one knows where to look and what to look for there are other
alternative sources.  Often something like a position sensor from Hurco will
be 15-25 times more expensive than the exact same part from somebody like
Digi-Key.

I have some demand which is why I need to just buy a machine or two to take
over for my hobby level machines, but I can retrofit and build machines
myself.  Its just a matter of time verses money.  That, and I am still
working on the retrofit on my big machine that I planned for making more
smaller machines.  LOL.  Speaking of Hurco.  This is an old Hurco KMB1 that
I have gutted the electronics cabinets to convert it over to direct PC
control.





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