Price Check 2011 4320 Cab tractor with FEL

[OrangeAgain]

Regarding my 0% / 5 year financing payment increasing 5% after twelve months, I discovered that the 5% is a late payment fee for my November payment. Although my online bill paying service mailed the payment in plenty of time, JD Financing didn't receive it for almost three weeks. I've since changed my online bill paying to electronic transfer which takes one day.

 

[Martian]

Regarding my 0% / 5 year financing payment increasing 5% after twelve months, I discovered that the 5% is a late payment fee for my November payment. Although my online bill paying service mailed the payment in plenty of time, JD Financing didn't receive it for almost three weeks. I've since changed my online bill paying to electronic transfer which takes one day.

Don't you hate it when your charged for something that is clearly not your fault.

 

[AKfish]

Regarding my 0% / 5 year financing payment increasing 5% after twelve months, I discovered that the 5% is a late payment fee for my November payment. Although my online bill paying service mailed the payment in plenty of time, JD Financing didn't receive it for almost three weeks. I've since changed my online bill paying to electronic transfer which takes one day.

Very unfortunate situation... A couple of questions come to mind:

1.) What level of responsibility does your former, on-line bill paying service have in this situation? Or is the problem with the Postal Service? Be curious to note when the letter was date stamped by the Post Office...

2.) Is the 5% fee increase a one-time; one month penality? Or does that mean that the remaining financing term will also be increased by 5%?

The reason for asking is -- IIRC -- the financing contract with Deere has language which indicates that the company (Deere) has the option of raising the charged interest rate from 0% to whatever... if you're late with payments. Very scary!

So, did "Mother Deere" come after you with an immediate, 5% stick - after a single late payment?

If that's the case; many current, financing owner's as well as possible buyer's will have significant reason to review their contract with JD or a definite "PAUSE" before signing the purchase agreement on a new tractor.

AKfish

 

[OrangeAgain]

My credit union says they will reimburse me for the 5% late fee. My understanding of the conversation with JD Financing earlier this week is that the 5% late fee only applies to the November 2011 payment. We shall see.

 

[Martian]

My credit union says they will reimburse me for the 5% late fee. My understanding of the conversation with JD Financing earlier this week is that the 5% late fee only applies to the November 2011 payment. We shall see.

Lets hope, would hate to see that. Nice to see that your going to get that extra money back.

 

[Martian]

Shibney,

Have you gone forward with the purchase?

 

[Glen Watkins]

Hope it wasn't a Craigslist Scam!

 

[RoyJackson]

Don't you hate it when your charged for something that is clearly not your fault.

Although the fault lies with the Post Office (probably), the payer is still responsible for on time payments.
It does suck though...
I've had 3 Deeres (all used) all financed through Deere. I did all my payments electronically...even back in 2001.
It's a good way to go, really...just make sure you print out the confirmations until you know they have the money.