Today I’m going to scratch the surface about leasing, but first I want to say a great big “Thank You!” to everyone who reads this newsletter. Because of your continued readership and interaction in the comments section, we’re really starting to build a great community.
As a matter of fact, we’re starting to make a name for ourselves. I’m beginning to get inquiries from folks in related businesses such as cart builders, small business coaches, etc. They see us as potential partners. This is great for you because it allows me to get to know them a lot better and then I’ll be able to recommend only the best to you when you come here for advice.
On that subject I want to make one thing clear. You, dear readers, are my first priority. My goal here is to make you all successful. If you’re successful first, my success will naturally follow. Therefore I will not recommend any product or service to you unless I think it’s in your best interest.
In fact, I just turned down a deal last week (not leasing related) that had the potential to be quite good for me, but I just wasn’t comfortable with the level of experience of the other party (or their attitude). I couldn’t recommend them to you in good conscience, so I walked. I lost a lot of time and a small amount of money because of it.
They couldn’t believe it. Actually they were pretty pissed, but I’m not losing any sleep over it. It definitely wasn’t right for you, therefore it wasn’t right for me either.
The right fit always comes along sooner or later.
Speaking of the right fit, I was contacted by the top agent for one of the top food cart leasing companies in the world. He wanted to let me know that he is available to work with us and he can provide financing for new hot dog carts at the best rates available, and hot dog carts are his specialty. If you’ve ever tried to get food cart financing from a bank, you’ll know how difficult it can be because they just don’t know the business.
This guy lives it.
Now here is where it gets good. This is your chance to have all of your financing questions answered by the pro. In the comments section at the bottom of this article, I want you to ask any questions you may have about leasing and financing. I’ll write them all down.
Then I’m going to set up an interview with this person and put him on the hot seat. I’ll ask him every one your questions and a few of my own. And I’m going to record it. When I’m finished I’ll compile the questions and answers into “The Complete Guide to Hot Dog Cart Financing”. I could make this into a book and easily charge $37 for it, but I’m not going to do that.
I’m going to make it available to you… for free.
It will probably be in ebook format with the full audio recording in MP3 so you can listen in on the entire call.
Go ahead and ask your questions now in the comment section below. Don’t email them to me directly, I want everyone to see them here. Questions always spark further questions.
And thanks in advance to our leasing expert for helping us out. Unlike some others, he’s willing to prove up front how hard he’ll work to provide the best service. That’s how he got to be #1 in his field.
And that’s a lesson for us all…
I can’t say how long it will take to get the interview done, compile the report, and get it out to you, but I’ll put it on the front burner.
Thanks again for contributing!
-Steve
Bob Abraham
// May 11, 2009 at 7:27 am
Hi Steve,
Actually, I just sent an application in with Nations Leasing.
I put down 36 (months) terms. Should I have gone longer? Is there a penalty for early payoff?
What are interest rates?
How much should you put down for equipment cost? Ask the least amount?
T.C.Spicer
// May 11, 2009 at 9:02 am
was wondering how this cart financing,would work with people that didnt have perfict credit?
Mark
// May 11, 2009 at 9:26 am
Leasing – What are the pro’s and con’s of leasing vs purchase of a hotdog cart?
Insurance – With a lease, is insurance a different proposition?
Credit – How does your credit score effect leasing ?
Option to purchase? What are the options to purchase with a lease?
Lenght of time for approval – With leasing what is the typical period of time for approal on a lease application?
Thanks,
Mark
Hector Ruiz
// May 11, 2009 at 10:08 am
Generally, what are the income and credit requirements, for leasing carts? If it is leasing, why is it called financing?
James
// May 11, 2009 at 10:55 am
Steve;
Their are probably tones of questions people need to ask so I guesss the most prevelant ones will be:
Where to get the carts? Shipping to our area?
Terms of lease, like can they be leased to own? Cost of leasing verse buying out right? That should start things off. I am sure others will have something to say.
/s/ Jim
DW
// May 11, 2009 at 12:17 pm
To finance not lease how much is needed for down payment and what are the interest rates and terms on say a 720 score and will they finance multiple carts?
Sal
// May 11, 2009 at 12:38 pm
Is this cart are insured while we leased.. how mutch
money do we need to start the lease
Do we owned at the end of lease.
Is theres instruction acompany it about how to use it and operated?
Jackie
// May 11, 2009 at 12:42 pm
What is the diference between leasing and financing. Is there a difference?
Arttur
// May 11, 2009 at 12:56 pm
Will your past credit history have a whole lot of effect leasing?
How long does it take for approval?
How difficult is it to get approved if you’re already self employed?
Dwain
// May 11, 2009 at 1:18 pm
How much does leasing verses owning effect profits?
Tom
// May 11, 2009 at 8:10 pm
I am excited about the possibility. Would leasing work for the part time person just getting started and working it to full time? How can the company help me with this type of concept? Working shows, fairs, and weekends?
Eugene Zafra
// May 11, 2009 at 8:55 pm
Timely subject. Have been considering leasing to start up the business.
What is the maximum amount for the cart to be leased?
My other questions wouuld be all the above that others have asked.
Great forum. Will be puchasing your guide soon.
larry
// May 12, 2009 at 6:44 am
is there another finacing company that dont require 600 credit score just need a chance had problems in past
Smokey
// May 12, 2009 at 7:00 am
Can a person get pre-approved so they know how much they qualify for and how much they can spend on a cart?
Dave
// May 12, 2009 at 9:29 am
Will he lease a cart to someone who doesnt have perfect credit?
CEO
// May 12, 2009 at 12:53 pm
The questions that I have are:
How long do you have to be on your job in order to meet the minimum requirements for financing?
What are the min requirements for financing a cart?
dave perkins
// May 14, 2009 at 3:23 pm
is the current economy and credit markets making it harder to get approved now
Denton Heindel
// May 15, 2009 at 7:48 am
do you think leasing is beter than owning your owneing your owen cart.
JIM
// May 16, 2009 at 10:18 am
We just leased a cart from Nation’s all we need was a credit score of 600 or better. Great people to work with. Cart will be delivered on Monday May 18th. we leased for 36 months
Hot Dog Cart Leasing Tips - Sign Up For The Advance Notice List // May 18, 2009 at 7:21 am
[...] you have no idea what I’m talking about, read my article from last week, “Leasing A Hot Dog Cart”. It’s not too late to ask more questions in the comments section at the [...]
William
// May 18, 2009 at 4:09 pm
I recently lost my job, how will that effect my chances of getting a lease/financing?
tony
// Jan 13, 2011 at 1:02 pm
I lost my job , what are my chances of getting a lease or loan .
Kerry
// Jan 16, 2011 at 9:45 am
I am wanting to start a hot dog cart business but would like to lease instead of buy.Can a person do this if there credit isn’t perfect?I know i can make it work if i can just get started.Thanks.
steve
// Jan 17, 2011 at 9:03 am
Hey Kerry,
My Hot Dog Biz 101 course includes ‘The Definitive Guide To Hot Dog Cart Leasing”. It will answer all your questions. You can get it at http://www.HotDogBiz101.com
-Steve
Regina
// Feb 24, 2011 at 10:34 am
do i have to get a buissnes name and corporation