financing

[swnoel]

Took delivery of my new DK35 this past weekend...

Bought it with 0% financing... I thought

Turns out the finance company Agri something made it a 4.99% loan over 60 months rather than the 36 mo. 0%

Dealer has told me they do this on each of the loans he has submitted even though he has advised them differently.

Anyone else havig same thing done to them?

[Gordo]

I'm talking to my dealer about the financing also. If the deal was for 0% you should have 0%. I'd go back to the dealer and ask him to make it right. This deal seems bogus to me! Go to bankrate.com look at the autoloan calculator then see what the financing is going to cost you over the three year period. Tell him you'll take an implement of that value and you'll call it square. [img]/forums/images/graemlins/smile.gif[/img]

Total interest on a 3 year loan for $20K at 4.99% is $1575 according to my calculations. Go to: http://www.bankrate.com/brm/auto-loa...page=calc_home
to check for yourself.

By the way what did you get with your DK35?

I'll let you know what my dealer says. He told me 0% for 36 and 4.99 for 72 mo. I'm leaning toward taking the 72 mo loan and then paying off in 3 years anyway. That way if I run into any money problems I've got a fall back option.

Good Luck,
Gordo
Prospective owner
DK35
1450 FEL with 4/1 blade
1550 Backhoe

[mgrick]

I took delivery of a DK35 in May,I wanted 0% for 36 months and thats what I got.If you made the deal at 0% for 36 months then thats what you should get.They shouldn't have changed it without telling you first.That's no way to be doing business.If it was me I'd be putting up a big stink.

Rick

[shoppintractors]

Kioti has a loan calculator with their rates programmed in here.

Don
Shoppintractors

[dmccue]

I took delivery of my CK20 a week about 10 days ago. I financed for 36 months at 0% and that's what I got. You should have received a finance sheet from Agcredit showing your monthly cost and finance charge. At 0%, your finance charge x the number of payments (36) should equal the amount you owe to the finance company.

[swnoel]

I'll let everyone know how this turns out...

DK35,1450 loader, 2385 hoe

[depratt_equip]

Im a kioti dealer and we have never had any problem with agircredit doing this... and we have done quite a few 0% for 36 months no prob... sounds like you might want to question your dealer a little more, this doesn't sound like something agricredit would do.... if you still have problems you might get the phone number for agricredit and give them a call....

[gmol]

I just got my new DK 55 financed with them , NO Problem [img]/forums/images/graemlins/smirk.gif[/img]

[swnoel]

I did call my dealer and he said that this was something that Agricredit has done to him more than once.

I also called Agricredit and advised them that I wanted 0% 36 months and they said they'd get a new contract out to the dealer and me Fed Ex. That was Tuesday and as of today (Saturday) I still don't have the new contract.

[stvman]

I would say the dealer is full of it. If you fill out a credit app. and it states 0% how does it end up at 4.9%. Do you have the original app. it should list all the terms and conditions.

I would be curious to know if Kioti gives the dealer an incentive for getting people to go for anything other than the 0%.