0% fOR 48 Mos
- Thread starter iplumb
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Will_C
Veteran Member
- Joined
- May 24, 2002
- Messages
- 1,774
- Location
- Upstate N.Y.
- Tractor
- Kubota L3560, Toro 52" and 60" ZTRs, Kubota RTV 900
The 2620 is home, sitting in the garage. According to my dealer the 0% started on Monday. I did not ask what models it covered, I assume it replaced the previous 42 month program.
The insurance was $139.50 annually. It can be financed for 0% interest. Homeowner's insurance only covers use on your property, and only covers fire and theft (so my insurance agent told me.) I use the tractor on two different properties that I own, and also at my Mother's house. The Kubota insurance covers use anywhere, and covers damage in transit. I really don't think the rate is bad for the coverage. I wish the rates on my truck were that low!
Will
The insurance was $139.50 annually. It can be financed for 0% interest. Homeowner's insurance only covers use on your property, and only covers fire and theft (so my insurance agent told me.) I use the tractor on two different properties that I own, and also at my Mother's house. The Kubota insurance covers use anywhere, and covers damage in transit. I really don't think the rate is bad for the coverage. I wish the rates on my truck were that low!
Will
Have fun! I'm still working on my 2920 deal. Do you know if I put 50% down. am I still required additional insurance? Just a thought.
stimpee
Silver Member
Based on my purchase experience last year with the 42 month 0%, nobody is REQUIRED additional insurance. You have to sign a form that indicates that you are covered for some listed variety of "oopses". In my case, I contacted my homeowners insurance company (state farm) and talked to the agent. I was covered by everything except an "accident" - like I am an idiot and I rolled my tractor down a hill and it fell off a cliff type of accident. I was covered for everything else, trailering, use off property, etc etc. I could have signed the form, and not gotten the insurance, and I would bet nobody would have ever known the difference unless something happened and I stopped paying for the tractor.
I decided that rather than take the "risk", I bought the insurance. The cost came out to somewhere just north of $600 for the 42 month period. Some here will argue that it is a bad move, since it covers THEM not ME essentially. However at the end of the day, if something did happen, I didnt want to be stuck paying for a tractor that was sitting in a pile at the bottom of the cliff. It came out to less than 3% of the total amount financed (tractor and implements was 23+k) which is still better than most/all other options I had, other than saving up and paying cash, which apparently is normal course of action for everyone on here. I guess I could have let the grass keep growing for 3.5 years, and also let the horse poo pile up and compost, but I wasn't sure that was a good idea...
I decided that rather than take the "risk", I bought the insurance. The cost came out to somewhere just north of $600 for the 42 month period. Some here will argue that it is a bad move, since it covers THEM not ME essentially. However at the end of the day, if something did happen, I didnt want to be stuck paying for a tractor that was sitting in a pile at the bottom of the cliff. It came out to less than 3% of the total amount financed (tractor and implements was 23+k) which is still better than most/all other options I had, other than saving up and paying cash, which apparently is normal course of action for everyone on here. I guess I could have let the grass keep growing for 3.5 years, and also let the horse poo pile up and compost, but I wasn't sure that was a good idea...
Mike Costello
Gold Member
- Joined
- Nov 22, 2008
- Messages
- 416
- Location
- Dunnegan, Missouri
- Tractor
- Kubota L4400HST, R4 tires, L2228 Quick-attach setup
I bought my L4400HST when Kubota was still offering 0% for 60 months. As I recall the insurance was reasonable for the 5 year period and offered good coverage.
You always got to remember, it's the stuff you're not expecting (like that old septic system you just passed over while helping out your neighbor and both of you never knew it was there) that's going to get you. Accidents with tractors happen quite often and usually without warning. The safety section on TBN says it all.
You always got to remember, it's the stuff you're not expecting (like that old septic system you just passed over while helping out your neighbor and both of you never knew it was there) that's going to get you. Accidents with tractors happen quite often and usually without warning. The safety section on TBN says it all.
LBrown59
Super Star Member
- Joined
- Oct 27, 2004
- Messages
- 16,851
- Tractor
- 2003 Kubota BX1500/2004 Kubota Bx23/2005 Kubota BX1500
* ** It's illegal for any lender to dictate who you get insurance with.
When I bought my BX 23 the cost of every thing was the same .
The only difference was there was a finance charge on the interest bearing loan and no finance charge on the 0% loan.
LBrown59
Super Star Member
- Joined
- Oct 27, 2004
- Messages
- 16,851
- Tractor
- 2003 Kubota BX1500/2004 Kubota Bx23/2005 Kubota BX1500
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Insurance IS required IF you put anything less than 100 % down.
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Insurance IS required IF you put anything less than 100 % down.
I just purchased a L4740 and RTV900, both with 0% 42 month financing last month. I believed they required a 20% down payment. From what I could see on the Kubota website, none of the Grand L 40 nor RTV series are available at the 0%, 48 mth financing plan.
As regards insurance coverage, my understanding is that with ANY financing plan, Kubota will require documentation of appropriate insurance coverage. Since I have a farm policy for my house and 20 acres, I figured I would have sufficient machinery/implement coverage so as to not require additional outlay. Guess again. After speaking with my independent insurance agent, he informed me that with items up to about $5-6,000, I would likely be ok if I had a claim and filed it with my carrier. For more expensive items, it is best to have each piece listed separately on the policy. That way, if there were a loss on or off premises, there are no questions asked and they pay for REPLACEMENT cost. If not listed, and a claim occurs, they may 1) ignore it completely since it isn't listed on the policy (likely), 2) give you what you paid (unlikely), or 3) possibly pay you what they deem it's worth, which is likely thousands less that what you paid. As I said, my agent is independent from my insurance carrier so I don't feel he was just fishing for increased commission. What he didn't want, and has seen occur in the past, is a claimant show up at his door expecting coverage and receiving a unpleasant surprise instead. This leads to bad blood between agent and client.
I opted to go with my farm policy carrier for the coverage. In my case they were actually cheaper than Kubota for the same coverage. I believe I'm paying about $260 annually for both the tractor and RTV. In any case, ALWAYS check out your coverage before you take it home. The insurance industry is riddled with the statement, "But I thought I was covered".
As regards insurance coverage, my understanding is that with ANY financing plan, Kubota will require documentation of appropriate insurance coverage. Since I have a farm policy for my house and 20 acres, I figured I would have sufficient machinery/implement coverage so as to not require additional outlay. Guess again. After speaking with my independent insurance agent, he informed me that with items up to about $5-6,000, I would likely be ok if I had a claim and filed it with my carrier. For more expensive items, it is best to have each piece listed separately on the policy. That way, if there were a loss on or off premises, there are no questions asked and they pay for REPLACEMENT cost. If not listed, and a claim occurs, they may 1) ignore it completely since it isn't listed on the policy (likely), 2) give you what you paid (unlikely), or 3) possibly pay you what they deem it's worth, which is likely thousands less that what you paid. As I said, my agent is independent from my insurance carrier so I don't feel he was just fishing for increased commission. What he didn't want, and has seen occur in the past, is a claimant show up at his door expecting coverage and receiving a unpleasant surprise instead. This leads to bad blood between agent and client.
I opted to go with my farm policy carrier for the coverage. In my case they were actually cheaper than Kubota for the same coverage. I believe I'm paying about $260 annually for both the tractor and RTV. In any case, ALWAYS check out your coverage before you take it home. The insurance industry is riddled with the statement, "But I thought I was covered".
I just purchased a L4740 and RTV900, both with 0% 42 month financing last month. I believed they required a 20% down payment. From what I could see on the Kubota website, none of the Grand L 40 nor RTV series are available at the 0%, 48 mth financing plan.
As regards insurance coverage, my understanding is that with ANY financing plan, Kubota will require documentation of appropriate insurance coverage. Since I have a farm policy for my house and 20 acres, I figured I would have sufficient machinery/implement coverage so as to not require additional outlay. Guess again. After speaking with my independent insurance agent, he informed me that with items up to about $5-6,000, I would likely be ok if I had a claim and filed it with my carrier. For more expensive items, it is best to have each piece listed separately on the policy. That way, if there were a loss on or off premises, there are no questions asked and they pay for REPLACEMENT cost. If not listed, and a claim occurs, they may 1) ignore it completely since it isn't listed on the policy (likely), 2) give you what you paid (unlikely), or 3) possibly pay you what they deem it's worth, which is likely thousands less that what you paid. As I said, my agent is independent from my insurance carrier so I don't feel he was just fishing for increased commission. What he didn't want, and has seen occur in the past, is a claimant show up at his door expecting coverage and receiving a unpleasant surprise instead. This leads to bad blood between agent and client.
I opted to go with my farm policy carrier for the coverage. In my case they were actually cheaper than Kubota for the same coverage. I believe I'm paying about $260 annually for both the tractor and RTV. In any case, ALWAYS check out your coverage before you take it home. The insurance industry is riddled with the statement, "But I thought I was covered".
As regards insurance coverage, my understanding is that with ANY financing plan, Kubota will require documentation of appropriate insurance coverage. Since I have a farm policy for my house and 20 acres, I figured I would have sufficient machinery/implement coverage so as to not require additional outlay. Guess again. After speaking with my independent insurance agent, he informed me that with items up to about $5-6,000, I would likely be ok if I had a claim and filed it with my carrier. For more expensive items, it is best to have each piece listed separately on the policy. That way, if there were a loss on or off premises, there are no questions asked and they pay for REPLACEMENT cost. If not listed, and a claim occurs, they may 1) ignore it completely since it isn't listed on the policy (likely), 2) give you what you paid (unlikely), or 3) possibly pay you what they deem it's worth, which is likely thousands less that what you paid. As I said, my agent is independent from my insurance carrier so I don't feel he was just fishing for increased commission. What he didn't want, and has seen occur in the past, is a claimant show up at his door expecting coverage and receiving a unpleasant surprise instead. This leads to bad blood between agent and client.
I opted to go with my farm policy carrier for the coverage. In my case they were actually cheaper than Kubota for the same coverage. I believe I'm paying about $260 annually for both the tractor and RTV. In any case, ALWAYS check out your coverage before you take it home. The insurance industry is riddled with the statement, "But I thought I was covered".