Purchase Dilemma

[chh]

Your on the right track with paying cash. I do not finance anything anymore. If I can't pay cash I can't afford it.(and yes I do have excellent credit) The dealer acted foolishly though by acing the way he did when you were turned down. When you start shopping again look at all the available brands, make cash offers and see who gives you the best deal. My personal choice is to stick to all mainstream brands do to the fact that I trade tractors often enough that resale is an important issue to me. (Skip blasting me about Mahindra going the be #1 someday, I've heard it all before and I'm not knocking them except on resale)

 

[ChuckinNH]

As has been discussed over, and over, due to shipping factors the MSRP is referred to dealers, as those farther from the source pay higher freight costs. Upon checking many tractor manufacturer websites, most do not list MSRP. It isn't the same as buying a new truck, or car. Many new car buyers are use to seeing MSRP stickers on lots, and use that as a starting point to see how much money they can squeeze out of the salesman's commission.

I really don't see how it is different than buying a car, tractors certainly cost enough. MSRP is just that, and has nothing to do with shipping costs. Shipping costs vary for cars too. What is easy to understand is that Mahindra's, and some other tractor company's policy is to charge whatever the market will bear. Dealers could save a lot of sales expense by just having an auction once a month. The incentives aren't clearly stated anywhere either anymore, and that is very confusing. I got quotes from two local Mahindra dealers, and one was considerably better than the other. Eventually, I found out that one had included all the incentives possible in his quote since he knew I would be paying cash, and the other one had not. I am tired of playing detective, and will probalby not buy a Mahindra though I do like the tractors.

 

[LAWALLSTRACTOR]

It is not all that easy as Mahindra has different incentives on different models in different parts of the country.
Also I have went to bat for many customers who have had turned down credit, and I do get quite disalusioned, because I usually find the customer hasn't been completely honest with me. I do keep trying and give the customers the benefit of the doubt, because it has worked out a few times and completed the sale.

 

[LarryRB]

Personally, I feel it doesn't matter what shipping costs are, if Lawall gets an incentive to sell 7530's to people with less than a quarter acre, what has his incentive have to do with posting msrp? NOTHING>> people know enough that shipping and possibly some other items are not included in msrp. they are all excuses and the tractor mfg should post some kind of MSRP. Mahindra had it for a short time then dropped it,, I bet is someone checked their count, they probably had the most hits when that MSRP table was posted,,, THeir loss.

 

[greggh]

It's too bad that a minor error on a report created this issue. It is a good thing that you discovered the minor error on your credit. My idea would be to have the error corrected on the report. Then I would find a tractor that I really liked and go with the 0% financing that is available. Put you cash into a CD or some interest bearing account and make your purchasing of the tractor a cheaper purchase.

However you go, have a great tractor hunt and remember to send pictures when you purchase. We like those pictures...

 

[Ken]

Drive sound the area you live and look at what brand is being sold. If green probally good dealier. same for other colors.
I've purchased several used tractors to have a large amount of maintance before concidering them ready for the needed work. A new tractor the size you consider necessary and monthly payments with warrenty might be what I've found is the amount of repairs for a used machine.
Also any equipment purchased is matching the tractor.

And the satisfaction that there is no hidden repairs that might fail soon.
if does break down the warrenty covers.

ken

 

[blagg]

I had something sorta similar happen at my local mahindra dealer. He had a slightly used 3215 with fel for sale at $14000. I said ok, go ahead and run it through, what the heck it only had 67 hours and looked new. It was a local trade to a smaller machine. Agricredit came back and said they wanted $4000 down. I asked the dealership owner why? my credit was very good, so I asked him, is it because they did not like his selling price. He sheepishly said that was it. Long story short, I left and went shopping for new!! Did not trust the guy after that. I could not find any book values for tractors when I tried to do my homework when shopping for a used tractor.

 

[LBrown59]

*It's too bad that a minor error on a report created this issue. It is a good thing that you discovered the minor error on your credit.

** My idea would be to have the error corrected on the report. Then I would find a tractor that I really liked and go with the 0% financing that is available. Put you cash into a CD or some interest bearing account and make your purchasing of the tractor a cheaper purchase.

*Credit scoring and reporting is a big rip off leading to exactly what happened in the original posters case.
The consumer loses the purchase, The dealer/seller loses the sale and the bank loses the loan and everyone is the looser.
It's a no win situation for everybody.
This happens all to frequently.

**That's exactly what I did in 2004 when I bought my BX23 and again back in November when I bought the 2 BX1500s.
I could have paid cash but it would have cost me more money than financing.

 

[MasseyWV]

*Credit scoring and reporting is a big rip off leading to exactly what happened in the original posters case.
The consumer loses the purchase, The dealer/seller loses the sale and the bank loses the loan and everyone is the looser.
It's a no win situation for everybody.
This happens all to frequently.

I agree that credit scoring and reporting is a complete rip off. I have begun the process of trying to get the "error" removed from my credit report because it could potentially affect the rates I pay for insurance but getting the credit reporting agencies to actually do anything about it is not easy and can take several months at best.

The credit reporting agencies don't want people to have perfect credit because there would be no reason for people to purchase their so-called "services". Fortunately, I did not pay them a dime, and never will.

The way I see it is simple. If Agricredit (or any other lending institution) doesn't think I am trustworthy enough to pay them back, I am quite happy to pay cash and pay myself the interest that I would have been paying to them. In fact, before I got the "itch" to buy a tractor, I had always insisted on paying cash for everything.

When I was initially denied credit, I did consider myself one of the losers but now that I have had time to look at it objectively, I see myself as the winner in the long run. Not only will I be saving money, but I will be much more educated about all of the "options" that are available to me and better prepared to get best deal possible.

Time is on my side...

 

[MasseyWV]

I had something sorta similar happen at my local mahindra dealer. He had a slightly used 3215 with fel for sale at $14000. I said ok, go ahead and run it through, what the heck it only had 67 hours and looked new. It was a local trade to a smaller machine. Agricredit came back and said they wanted $4000 down. I asked the dealership owner why? my credit was very good, so I asked him, is it because they did not like his selling price. He sheepishly said that was it. Long story short, I left and went shopping for new!! Did not trust the guy after that. I could not find any book values for tractors when I tried to do my homework when shopping for a used tractor.

I completely understand your hesitation to trust a dealer.

Maybe it is just the dealers in my area but of all the dealers I have visited so far, my gut has told me to watch out. I especially hate it when a salesman walks out with a big smile on his face "acting" like he is my best friend when he doesn't know me from Adam. Just watch how quickly that fake smile disappears when I walk off the lot.

What is even funnier is how the whole "sales" thing plays out like some kind of game. Like the "absolute best price possible" that a dealer gave me which quickly dropped $2000 after I walked off the lot and contacted a competing dealer who offered a much better price.