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The Ramsey Show Highlights

Take Out a Loan for a Business?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Business, Investing

4.5840 Ratings

🗓️ 22 March 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

💵 Sign up for EveryDollar today - Create a free Budget! Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more! Next Steps 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 🏦 Take Your 3-Minute Money Assessment - Get a personalized money plan! Listen to more from Ramsey Network 🎙️ The Ramsey Show   🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

brought to you by the every dollar app start budgeting for free today let's go to dj and

0:08.2

pittsburgh pennsylvania dj how can we help buddy so i'm kind of having some trouble wrapping my

0:16.2

head around an issue where i'd like to start my own small equipment rental company, but I have a natural

0:25.4

kind of aversion to debt, but I think that the amount that I'm going to need to start this

0:32.1

company at the lowest level is going to be enough to where it might be worth getting into some level of low

0:42.2

level debt.

0:43.0

I found a zero percent loan for the particular piece of equipment I want to buy.

0:47.4

So I'm not sure where to go from here.

0:50.2

How much?

0:51.0

Tell us about the equipment.

0:52.1

How much?

0:53.4

All right.

0:53.8

So you need the

0:55.1

backstory because it's a good backstory. The company that I work for is extremely motivated to help

1:00.9

their employees out. They like to have their employees be able to have the equipment they sell.

1:05.8

So they sell their equipment at cost plus a small transaction fee and on the new equipment.

1:14.4

The amount is $30,000 for the piece of equipment that I want plus the attachments that I would

1:20.8

need in order to make it marketable.

1:22.6

Oh, you get the attachments with the $30,000?

1:25.7

You get the attachments, you get the equipment, you get the warranty,

1:29.7

and I'm also then allowed to be my own repair man. All right, so what kind of a machine are we

1:35.0

talking about? What is it doing? About a 3,500 pound mini excavator with zero K elsewing.

...

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