Financing JD Financing

[willer65]

I am planning on buying a new CUT before Spring and have been monitoring this forum for the past month or so and all I can say is thanks to everyone for the great information. I had been trying to decide between the Kubota BX2200 and the JD2210. After looking at and driving both, I am pretty well stuck on the JD. My question is, has anyone used the JD 0 down, 0% financing for 36 months? Are there any catches?
I most likely would pay the balance at the end of the 36 months. Any info would be appreciated.

 

[BenderKC]

I used this, no catches, except you pay equal installments each of the 36 months, so there is no balance at the end of the 36 months. No finance charges, no balance. Just divide the purchase price by 36 and there you go. You do want to have it paid off or the rate goes UP>

 

[raynman]

1st, Green is a good choice /forums/images/graemlins/grin.gif

The only catch is if you don't pay it off in the 36 months, then you will be paying interest, most likely at a high rate.

 

[SteveH_CT]

My 4310 was just delivered today - I used the 0% for 36 months - No hitches, no gimmicks, and no pre-payment penalties. Basically it's free money. /forums/images/graemlins/wink.gif

 

[zuiko]

It is an installment loan so you have no choice about the 3 years if that is the term you choose.

Their smaller stuff like lawn tractors is handled on a revolving credit plan, which would give you a choice of how much to pay every month.

 

[Yankee]

Check the terms carefully. Sometime promotional loans of this type trigger interest for the ENTIRE TERM and ENTIRE AMOUNT FINANCED if you have a late payment or don't fully pay off by the end of the term. In other words, time your last payment wrong by a few days and you could be on the hook for 3 years worth of interest on the full amount financed. I've had two loans with this kind of provision. I set them both up to pay automatically from my bank account and to pay them off a month early.

Zero interest is a great thing. It's one of the things tilting me a bit toward NH and Case (not sure I like the Deere's all that much) and away from Kubota - whose rates went UP for 2004.

Bill

 

[yellowsocks93]

Do Case and NH have the same program going on right now? What do you dislike about the Deere compacts? Just curious.