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Tractor Talk Discussion Board

Re: Economy..Should I buy now or hold out?


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Posted by Texasmark on April 28, 2008 at 06:08:55 from (12.154.45.40):

In Reply to: Economy..Should I buy now or hold out? posted by mike from cny on April 27, 2008 at 18:45:23:

Only concern now would be interest rates and current availability of decent credit. Unit pricing may be better if sales demand is low.

Don"t know if you are looking to buy for your own use or to use as a business base.

If own use I stated feelings above.
--------------------------
If for business you really need to survey your market before you jump out there; take a really good look at your potential business and how you plan to develop it. Others comments about additional necessities are absolutely part of it.

Have some serious constraints facing you with prices of most everything going up. Folks will just put off what they don"t absolutely have to have.

Don"t overlook costs of fuel, insurance, and taxes including road taxes.

Getting started and developing a name for yourself takes time.....time is money. Insure that you have a cushion to rest on while this is building up....payments will come every month regardless of your income.

Having financed my son"s personal business caper my first question to him was where was his business plan....he didn"t even know what it was. All I got out of him was "I know I can do it". Well, sorry, but that doesn"t make it happen and he went down the pipe sucking a heck of a lot of my wife's and my money with him. I knew better at the time (cause what I just said) but he caught us at the right time financially and I thought I would give him a chance......who knows, he could have made it big.....course as time passed I realized he had no aspirations for making it big.

Not saying you won"t make a go of it. Just saying you need more than a strong will to survive. Do your homework and if it looks bad back off. Course I know that's not what you want to hear......but that's what's good for you......believe it.

Mark


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