Privacy and financing? How to keep income private from dealer?

[broncosfan]

I live in a small rural area where everybody knows the gossip in the whole county and beyond. When you finance at a tractor dealer is there anyway to keep your income and debts private from the tractor dealer? could a person get approved say through kubota or deere or New holland online then purchase at a dealer? Or no matter what can dealer can look up the gossip on you? I know you could go to outside sources.... but was asking about the tractor company financing and all those 0 percent for 36 months deals. I have found small towns don't conform to confidentiality clauses. Yes a person could drive really far away but some dealers give bad service if you don’t purchase from them. One post had a deere dealer refusing to do warranty work. He contacted Deere and they said they could do nothing.

 

[ODT]

Speaking only for CNH/New Holland, yes you could apply online, get approved, then go to your local dealer and purchase a tractor.

That's all we do when handling an instore ap--fax it to CNH credit who then calls us back with a yea or nay. At the store level, we get no more information than name, address, and SS#. That's it.

There is no reason for a dealer to get/need any additional information--the exception being if you have a questionable credit past, in which case a local dealer may be of benefit to you by vouching for you with CNH.

 

[KrumpsBrother]

Bronco,

It's all about your credit score; if you have great credit, I wouldn't even fill in the blank to report your income, or perhaps a small income at the most.

When I financed my last tractor (34,000 36mos @ 0% through Agricredit), I elected NOT to fill in the salary/income space. My dealer faxed the application and an hour later I had the OK. I do not have a large income and my wife insist on me having a spotless credit report.

There is no way I could afford it, but I'm pretty sure I could go out tomorrow and buy a '07 Corvette.

KB

 

[broncosfan]

appreciate the feedback. In our particular case we have fine credit .... just wanted to keep income private But didn't know if it was possible. You folks who grew up in small rural town's know what i'm talking about. Nice to know there are options out there. I never would have thought I could try to keep the income part blank. Worth a try tho. I'm new to the forum and sure do appreciate the wealth of information here.

 

[john_bud]

If you are really serious, then get your bank or credit union to approve you in advance for a tractor. Shouldn't be a problem in a rural area, they do equipment all the time.


Or pay cash.

jb

 

[rox]

Ialos think t s a good idea to leave the income blank. You coud simply call the dealer the next day and if they turn you down ask for the phone number of the credit department and call them yourself and provide that info over the phone. If you tell that credit manager you do not want any of your confidential information disclosed tot he dealer they WILL respect your wishes. I was a credit manager for many years. I did third party finance, basically we called it dealer financing, we financed furniture tv's etc. so I do have experience in the field. Actually what you could do is jsut go to the dealer and ask for the phone number of the credit department and go home and call in your information, again specifically asking the credit manager to not disclose your financial information to the dealer. they wil respect your wishes, don't worry about it.

Also I happen to agree with you, there is no need for a tractor sales person to be privy to your financial information. I would probably balk jsut like you are. Perfectly normal reques if you ask me.

 

[jeffinsgf]

All they should ever need is name, address, and SSN. If your credit score is high enough, they will just give you the rubber stamp and keep moving.

 

[MessickFarmEqu]

Kubota will require a fair amount of inforamation. You must fill in all the blanks, but the information does not need to be correct. You could put in a $0 for income, but still get approved because your credit score is good.