Funding my first chipper

[wjotner]

So, I'm after some varied opinions on how others have financed buying their first chipper.

 

Do you buy a second hand one cheap? But risk it breaking down?

Buy a new one on Lease or Hire Purchase? More expensive but more reliable. But more debt.

[Blake@waveney]

Speak to Marco at arblease tell him I recommend you. Buy the best you can. Buy cheap buy twice it’s not worth it in the long run. 

[woody paul]

When I need my first chipper worked hard raised the money and bought it and it then had to work hard for me which then bought the second.

No dedt the machines are mine.

[Mick Dempsey]

Don’t be afraid of credit/debt, it’s a business tool same as any other.

[Mike Hill]

It depends on your situation.

 

Buying new means it is less likely to let you down.

 

Buying used means its cheaper initially but could be more expensive in the long run.

 

If you are not particularly handy with the spanners and have  plenty of work on,then buy a new one.

 

I was always adverse to finance.This held me back in the development of my company.In recent years I have changed my attitude and financed some expensive machinery.This has ment I am able to tackle large jobs more efficiently and to be honest is one of the best decisions of my career.

 

These decisions were made after some great advice from people on here.

[MattyF]

My first chipper was used and a dog that cost more in time and money repairs .. I would not hesitate again to get a machine on lease hire/finance as it’s 100% tax deductible... chippers being Chipper’s will always need money spending on them but there is a lot more peace of mind on a new /nearly new machine.

Ex demo if you can find one will save a you a bit but I would avoid ex hire machines with low hours as they generally have been abused unless you can get a warranty on it.

 

[jfc]

I bought a timberwolf 160 just over a year ago, new on finance. Committing to £12.5k of loan was a bit scary but has been such a good move. The tw dealer is local to me which is helpful.
Hope that is useful.

[wjotner]

31 minutes ago, jfc said:

I bought a timberwolf 160 just over a year ago, new on finance. Committing to £12.5k of loan was a bit scary but has been such a good move. The tw dealer is local to me which is helpful.
Hope that is useful.

Yep, I'm thinking of going down the same route with a TW160 too.

 

9 hours ago, Yorkshire Compact Loaders said:

Speak to Marco at arblease tell him I recommend you. Buy the best you can. Buy cheap buy twice it’s not worth it in the long run. 

Spoke to Arblease, they've quoted a reasonable leasing finance option.

 

I think you're all correct. I'd love to be able to buy a cheap one outright, but can't help thinking it'll break down straight away.

You never know what your gonna get from a used chipper.

9 hours ago, woody paul said:

When I need my first chipper worked hard raised the money and bought it and it then had to work hard for me which then bought the second.

No dedt the machines are mine.

You did well. There's no way in hell I could save £12K for a chipper - would take me years and I'd be losing money the whole time I waited for it. Better off borrowing I think.

 

Cheers chaps

[dan494]

I think there's merit either way, my first chipper was a timberwolf 18/100 I paid £2000 for and sold 18 months later for £2800. Then bought another used chipper a jensen a530 for £6000 which i've been running for 3 years now. I've had to spend on it, probably about £1500 (not including blades etc) so not end of the world, maybe I was lucky? Currently in save up mode for a decent deposit on a brand new machine to keep the monthly outgoings down 

[woody paul]

When I bought first chipper it was a timberwolf 18/100 which was not £12,000, think it was £5,000 then a used 150 with low hours for £12,000.