DMSentra
Cast Iron
- Joined
- Sep 12, 2008
- Location
- Eugene Oregon
This looks like the best forum to speak of this.
I'm doing side work producing parts for a certain few models of cars. Things are getting busier and I keep adding to the offerings. This is in my home shop, in what was my free time. My 40hr work may also have issues in a few years so this is a semi backup plans also. It's gotten to the point where a cnc mill and lathe look like the thing to do. I'm planning the savings for a huge chunk of the purchase, but would like to get financing also to boost the timeline.
I've been programming and running a puma12 and small okuma mill at work for about 6 months. Not setting the world afire, but I have a decent handle on getting going so cnc isn't all new.
My credit union is the only place I've inquired about the particulars so far, and came out with 7-7.5% rate. Nothing written, just discussion at this point. Being in a home shop am I looking at it wrong in that a couple hundred a month out for a 12k to 18k machine will be safer than stepping in deep for a more reliable and expensive option?
Are there better options on where to check on the financing?
Thanks for any help you all offer. Loren.
I'm doing side work producing parts for a certain few models of cars. Things are getting busier and I keep adding to the offerings. This is in my home shop, in what was my free time. My 40hr work may also have issues in a few years so this is a semi backup plans also. It's gotten to the point where a cnc mill and lathe look like the thing to do. I'm planning the savings for a huge chunk of the purchase, but would like to get financing also to boost the timeline.
I've been programming and running a puma12 and small okuma mill at work for about 6 months. Not setting the world afire, but I have a decent handle on getting going so cnc isn't all new.
My credit union is the only place I've inquired about the particulars so far, and came out with 7-7.5% rate. Nothing written, just discussion at this point. Being in a home shop am I looking at it wrong in that a couple hundred a month out for a 12k to 18k machine will be safer than stepping in deep for a more reliable and expensive option?
Are there better options on where to check on the financing?
Thanks for any help you all offer. Loren.