Mahindra Max downpayment

[David Devuono]

My experience is with buying cars and trucks. What kind of downpayment would one expect to pay when ordering a new tractor. Personally I don't think they should ask for more than shipping costs. It kinda turned me off when asked to put $3,000 down to order one. Last truck I ordered, took three months to come in and they only asked for 500 bucks. Thanks

 

[dadreier]

Dave,

I put down a thousand dollars toward the final transaction which was going to be a cash deal.

In my situation, the deposit amount was going on my credit card which has a nice rewards program and I never carry a balance. My dealer actually asked me how much I'd like to put down and I volunteered the thousand. He said that would be fine. Then I asked if two thousand would be better and he refused, saying he'd rather avoid more credit card fees.

Dennis

 

[MahindraDon]

I'm not sure how it works in Canada, but in the U.S. we would typically ask for a deposit just to show good faith. We usually go ahead and do the financial paperwork if the customer wants to finance. That way they don't get hopes all up only to find out the bank can't approve them for the loan. This also avoids us being stuck with a tractor that we typically wouldn't have ordered and may not sell well in our area. I usually have customers sign a bill of sale with intent to purchase and ask for 1,000$ deposit if they are paying cash. I like your idea about paying the freight costs though. Would you have given the dealer the freight cost whether you purchased or backed out, so he wouldn't have incurred extra cost due to your indecision? That sounds more than fair to me! Good luck with your new Mahindra.

 

[David Devuono]

I never thought about putting the down payment on my points card. My concern is, if I put $3000 down and the dealer (Mahindra is his only line) goes out of business before the tractor comes in, I am out all that money. I can stand to loose a thousand. He had HST in stock, but I want a Gear (Shuttle) tranny. I do a lot of trail making and skidding trees in tight quarters and so Brake Turns are used a lot. Not sure I want the hassle of engaging a cruise control or heal and towing the HST and L-R brakes at the same time. I think $1000 is a reasonable down payment, much more and many buyers will need to borrow for both the down payment and the purchase.

 

[MahindraDon]

I agree David. I would want the Shuttle shift too. Have you offered $1,000 deposit? To ease your mind, I would have something on paper signed and dated that says you agree to purchase and he agrees to provide said machine. I would also include something that said in the event that the machine isn't produced or your needs aren't met, the money will be refunded in full.

 

[David Devuono]

Even though I mentioned that I would be arranging my own Financing (cash to the dealer) I think he was used to persons Financing through Agra-Credit who wants 15-30% down payment so they did not think it would be an issue. I will offer 1000 down and the balance upon delivery.

 

[DavesTractor]

My experience is with buying cars and trucks. What kind of downpayment would one expect to pay when ordering a new tractor. Personally I don't think they should ask for more than shipping costs. It kinda turned me off when asked to put $3,000 down to order one. Last truck I ordered, took three months to come in and they only asked for 500 bucks. Thanks

I suppose every dealer is different, but I think $500 shows that a guy is serious. To order a standard model tractor that most dealers carry in stock should not require much up front. If you want some special order oddball sort of thing, that would require a significant deposit.

 

[wedge40]

If nobody else will ask, I will. Which tractor are you looking at?

 

[David Devuono]

I was looking at the Max XL Shuttle with AG's. He had HST in stock with AG's but not shuttle. I never heard back from the dealer regarding what downpayment he would accept, so finding a Kubota B3200 demo with 78 hrs for the same price with 3 year PT warranty, I ended up going for the Kubota. The Kubota dealer thought I looked honest and said I did not need to put anything down, but I put 500 down anyway so he would not sell to someone else before I gathered the rest of the money. Funny I wanted Shuttle and ended up with a Kubota HST. I was really ready to buy, lol.

 

[rockshaft]

I never think twice about using my credit card for such things. The benefit of using credit isn't just convenience, it's also fraud protection. When i've ever been stiffed, i just contact the credit card bank and dispute the charge. Most recently i had to do this with an unscrupulous shipping company for my most recent tractor delivery. Just don't carry a balance!