Financing a welder.

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Does anyone know of any websites that offer monthly credit payments? I cannot Seem to find any.
Reply:I don't think any exist.. What type of welder are you looking for?
Reply:Always paid cash. If you need to extend it by a month or two just use a card, but be careful to pay it quickly or your intrest will make it an expensive welder.
Reply:Would like a millermatic 211 for home use.
Reply:I have over 30K of welders financed through my local welding supply co. You build a credit line with your LWS as your business grows, and you would be amazed at what they will give you. For 5k I walked away with two Vantage 300s, a year later they gave me a 400, and I have paid very minimally on the first two. The rates are so low, I really have no motivation to to pay it down. Im in for about 30k right now, and they still will let me go with a box of rods or torch for no up front money. For my first welder, I got a personal loan from my bank. Go local, especially for big stuff. You will save a large amount of money. I got my 400 for considerably less than the 300 advertises at.Constant Current Weldor.
Reply:Originally Posted by DavidbrownI have over 30K of welders financed through my local welding supply co. You build a credit line with your LWS as your business grows, and you would be amazed at what they will give you. For 5k I walked away with two Vantage 300s, a year later they gave me a 400, and I have paid very minimally on the first two. The rates are so low, I really have no motivation to to pay it down. Im in for about 30k right now, and they still will let me go with a box of rods or torch for no up front money. For my first welder, I got a personal loan from my bank. Go local, especially for big stuff. You will save a large amount of money. I got my 400 for considerably less than the 300 advertises at.
Reply:I know you want a Miller but if you would consider HTP they offer financing, layaway and leasing optionshttp://www.usaweld.com/category-s/348.htmA Blue box coming soonEverlast PowerTig 185Hobart Handler 175Hypertherm Max 40
Reply:Originally Posted by MukI know you want a Miller but if you would consider HTP they offer financing, layaway and leasing optionshttp://www.usaweld.com/category-s/348.htm
Reply:Crappy welders from overpriced tool trucksTiger Sales:  AHP Distributor    www.tigersalesco.comAHP200x; AHP 160ST; MM350P,  Spoolmatic 30A; Everlast PowerTig 185; Thermal Dynamics 60i plasma.  For Sale:  Cobra Mig 250 w/ Push-pull gun.  Lincoln Wirematic 250
Reply:Originally Posted by 7A749Look into getting a signature loan thru a credit union. I've purchased several pieces of machinery doing that. The rate will prolly be better than a factory financing program. If your weld supply offers credit, see about that.
Reply:I've always paid cash for all my tools up front. I use what I have to make what I can. Pay cash for newer machines. It makes it easier to make $ with them when you aren't stuck with a monthly payment.That's my opinion.JasonLincoln Idealarc 250 stick/tigThermal Dynamics Cutmaster 52Miller Bobcat 250Torchmate CNC tableThermal Arc Hefty 2Ironworkers Local 720
Reply:TigMonsterShopping the 'Big Box' internet weld suppliers vs. buying from your LWS is an ongoing rage on WW.  It's always about 'the few pennys' saved - and nothing about service or benefit.Everyone thank Davidbrown for clarifing the benefit of a solid relationship with your LWS.Over the years I have walked out the door of my LWS with a Miller D60 Wire feeder, an XMT 300, a Lincoln SW/355, and a 14" Scotchman cold saw - all on account - without a contract schedule, or prepayment penalties.To soften the payment sting - I always put at least a quarter down.  Once established - the key for ongoing abuse - is to pay off the balance in big blocks.  You cannot go to any financial institution and pay what you want;when you want - without penality.To industrial users - LWS sell machines as low as 5% mark-up - their profit-interest is in consumables.  Your LWS wants to get the device that consumes - in the hands of the consumer - as easily as possible.Everyone thinks that they are being screwed by their LWS - this is how you take advantage of them.Opus
Reply:This will take alot of thinking
Reply:IF you can afford to make payments, then you can save up the money and pay cash.My name's not Jim....
Reply:Originally Posted by BoostinjdmIF you can afford to make payments, then you can save up the money and pay cash.
Reply:I have the cards and a lot of credit on them. I have been lucky enough to have the cash on hand that i could just pay for it. The times I have needed the credit, I have been able to pay it off in 30 days.  I do use the cards to order online. In fact, I ordered my Ellis saw online a while back. I forgot to go online to pay the bill, and it cost an extra $35! Oh well! Be careful with the credit, dont use it if you dont have to. Look on CL for used equipment.  I have been in business over ten years now, and that Ellis bandsaw is one of the few pieces of equipment that I have bought new. Most of the rest have been bought with cash from private parties.
Reply:Originally Posted by soutthpawCrappy welders from overpriced tool trucks
Reply:Originally Posted by vwguy3So Everlast and Longevity sell off trucks now?
Reply:Originally Posted by vwguy3So Everlast and Longevity sell off trucks now?
Reply:I established a good reputation with all three of my LWS. Through the years I bought each and every machine on a 30,60,90 day payment plan. You need an account though. Everyone should have an account anyway to take advantage of thier tiered pricing schedule.Weld like a "WELDOR", not a wel-"DERR" MillerDynasty700DX,Dynasty350DX4ea,Dynasty200DX,Li  ncolnSW200-2ea.,MillerMatic350P,MillerMatic200w/spoolgun,MKCobraMig260,Lincoln SP-170T,PlasmaCam/Hypertherm1250,HFProTig2ea,MigMax1ea.
Reply:Originally Posted by BoostinjdmIF you can afford to make payments, then you can save up the money and pay cash.
Reply:Originally Posted by DSWUnfortunately it's not always as easy as that when you do this for a living. Some times you need the equipment to do the job, so you can get paid and pay off the new equipment.I've been lucky enough the last few years to have enough credit on the card to buy what ever I need to cover the job. I do however have accounts with my LWS ( apparently a pretty decent line of credit form what I understand) as well as several other suppliers. In fact in some cases I get better pricing if I put the materials on credit vs paying them directly with the card. The other advantage is it gives me another 30-60 days before I have to put that money on my card if that's the way I'm going.
Reply:I know it's not what you're looking for but everlast offers a payment plan.Craftsman 90 amp Arc welder
Reply:I have no idea if OP is relatively young or not, but in my situation when I bought mine, I took out a personal loan from the bank. Not only did it get me the machine that I wanted, but it also helped me build my credit (which is imperative if you're house hunting like me!)Miller Spoolmate 200 w/t S-52 WirefeederMM 211'09 Miller Trailblazer 302
Reply:Originally Posted by soutthpawNot that I know of.  The snap on branded Century welders are on there for twice what a good Miller or lincoln would cost though.Originally Posted by mikecwikYou would be completely wrong here. Add a remote feed to a Miller welder and recalculate the cost.Get a new credit card with 18 months zero interest. Miller does or did offer no interest for business owners.
Reply:Filled out credit app at the lws today
Reply:Originally Posted by DavidbrownI have over 30K of welders financed through my local welding supply co. You build a credit line with your LWS as your business grows, and you would be amazed at what they will give you. For 5k I walked away with two Vantage 300s, a year later they gave me a 400, and I have paid very minimally on the first two. The rates are so low, I really have no motivation to to pay it down. Im in for about 30k right now, and they still will let me go with a box of rods or torch for no up front money. For my first welder, I got a personal loan from my bank. Go local, especially for big stuff. You will save a large amount of money. I got my 400 for considerably less than the 300 advertises at.
Reply:Originally Posted by TigMonsterWould like a millermatic 211 for home use.
Reply:Originally Posted by matt1mortonIf you have to finance a Miller 211, @ $1200 on cyberweld.com, you need to re-evaluate things.  People finance pipeline welders because they're closing in on $20,000.  In my opinion, financing something so minimal, by welding standards, is a poor choice.  Banks are going to require collateral or exceptional credit and then only allow 6 months or so to pay it off.  Therefore, your payments are going to be around $200 bucks a month.  Save your money and pay cash!
Reply:If you think you can pay it off in 6 months use Paypal - (Bill Me Later). No interest for 6 months. After that it is 19.99%MillerMatic 212, Lincoln Precision TIG 225, Hypertherm 45XP
Reply:fdcmiami  In a seller/consumer relationship: there is a top-end / and a bottom-end. Conveniently - this is a joined system - with both ends having options.With time - these bicameral options have narrowed.Your interstitial perspetive is appreciated . . .Opus.Last edited by OPUS FERRO; 11-14-2014 at 03:17 AM.Reason: karl & hayek
Reply:Originally Posted by OPUS FERROfdcmiami  In a seller/consumer relationship: there is a top-end / and a bottom-end. Conveniently - this is a joined system - with both ends having options.With time - these bicameral options have narrowed.Your interstitial perspetive is appreciated . . .Opus.
Reply:Purchased a power mig 256 today for 1999 after rebates
Reply:Originally Posted by TigMonsterPurchased a power mig 256 today for 1999 after rebates
Reply:I put down 1000$ and 6 month payment on the rest. Already purchased spool gun lol
Reply:Originally Posted by matt1mortonIf you have to finance a Miller 211, @ $1200 on cyberweld.com, you need to re-evaluate things.  People finance pipeline welders because they're closing in on $20,000.  In my opinion, financing something so minimal, by welding standards, is a poor choice.  Banks are going to require collateral or exceptional credit and then only allow 6 months or so to pay it off.  Therefore, your payments are going to be around $200 bucks a month.  Save your money and pay cash!
Reply:yea id finance too, the revolving credit is a very good idea.If the conversation isn’t money, then I’ll see you later.
Reply:Originally Posted by fdcmiamisounds like a fairy tale to me, no contract; terms, percentages, contingencies, covenants, did they hold the paper or sell it,   they give away welders, nice. I want one, when can I pick it up. lol  not necessarily to the OP but to some other's that have posted here.  get a credit card, make payments on it and build your credit.   get another and a third.visa/mastercard/amex/discover will be around long after your local LWS and those cards will provide you the leverage to shop multiple locations at one time for best price.here is an example from a small operator, me, with good credit.I saw a demo for a TB325 and decided I wanted one.  I had been getting multiple offers from chase to write a check and borrow some money.  the last onewas at a cost of 2 points of the total I borrowed.  I then have to pay 1 point per month on the unpaid balance for thirteen months at which time the rate goes to  10 percent.  the 1 point is not interest and it is applied directly to the unpaid balance.   I had them do a transfer of xxxxx dollars into my business checkingaccount.   then I purchased 7k worth of goods from IOC.  in three days my new unit pulled up in front.   I then placed an ad on craigslist and within a few days Iunloaded a tb302 for 3200 dollars. ah, I missed a step,  the money chase deposited in my business account never moved.   I used a second card, amazon visa, to purchase the equipment fromIOC.   once my reward points cleared and I purchased a couple of tools with the points I paid off the card.nice and clean,  never left the shop.    there are additional benefits regarding taxes but that's a different story.your friend at the LWS can't get you a rental car,  purchase gas, pay all your utilities, airplane tickets, concerts and on and on.    however your good creditrating will get you better pricing when you walk in because now they know you are strong and can go elsewhere.   In America having bad credit is worse the a criminal record.   for one thing it is hard to get copies of a person's record but it is easy to get a copy of their credit file.   there is more information about youin your credit file than court records.here is an example.  I had to do some time with the feds, reasons not important, I made sure minimum payments were made to my cards the whole time I wasdown.   within four hours of release I had my hair cut, bought some new clothes, got dinner, and purchased a one year old truck at a good price and with, at thetime, a very competitive interest rate.do yourself a favor; get a credit line and pay your bills.   then do whatever the hell you want.
Reply:Originally Posted by #1SomeGuyHonestly I can't think of a single situation where financing something under $5000 is a wise financial choice.
Reply:Originally Posted by soutthpawSomehow when snapon welders hit Craigslist they all turn into gold.
Reply:Originally Posted by lighttekkuLet me help you.Someone lists a SAE-500 on Craigslist for $1000. You don't have $1000 so you take out a $2000 loan from the bank at, lets say 5% intrest, and buy the SAE-500 for $950. You sell the SAE for $12,000 and pay off the loan. You just made more than $10,000.Let me give you another one from real life. A house is for sale for $3,000. Its a pretty decent house in a city where houses regularly sell for $10,000. The house is rented for $650 a month plus utilities and the taxes are $1,500 a year. The reason it is for sale for such a low price is because it will need a roof within a year or two. You know a roofer that will repair it for less than $2,000.You don't have $3,000 in the bank so you take out a 5 year loan for $4,000. You allow the renter to stay for the same rents and collect $7,800 the first year. This pays off the loan, the taxes, and the new roof. The next year you increase the rents to $700 a month and walk home with $6,900 a year without owing a dime on it.Those are two situations that using credit for a purchase under $5,000 is a good idea. Open your eyes more. Credit can change your life if you use it wisely.
Reply:Originally Posted by #1SomeGuyI would argue that anyone who doesn't have a minimum of $5000 of cash available for unexpected things is making poor decisions with their life as well.Also, where the heck do you find houses for 10 grand? LoL
Reply:Originally Posted by #1SomeGuyI would argue that anyone who doesn't have a minimum of $5000 of cash available for unexpected things is making poor decisions with their life as well.Also, where the heck do you find houses for 10 grand? LoL
Reply:If this is for home use, and not a business expense,  here is the best piece of advice I've received, and it applies to many areas: "never borrow for toys. If you have to borrow, you can't afford it." Save the money you would making in payments, and pay cash.
Reply:Originally Posted by TigMonsterIm sorry that us blue collar workers are not made of money.
Reply:Originally Posted by #1SomeGuy$5000 is not a lot of money, working part time in a grocery store you can save up that much.Wow, never knew it was that bad there.
Reply:[QUOTE=#1SomeGuy;4960521]$5000 is not a lot of money, working part time in a grocery store you can save up that much.It might not be a lot to you. You can send me 5g to prove it. The world median household income is $10,000.
Reply:Originally Posted by #1SomeGuy$5000 is not a lot of money, working part time in a grocery store you can save up that much.Wow, never knew it was that bad there.
Reply:Just FYI, the welding supply will give you a contract. It allows you to run up a tab, to a maximum amount. There is an agreed upon percentage rate, with minimum payments. All these terms have been found to be flexible. I have skipped some payments without retribution,  and my max has been exceeded, allot. The way they explain it, is they make money off my future business, they want my ALL my business, and they got it.Constant Current Weldor.