Financing Anyone use John Deere financing?

[megotatractor]

I did the 6 months no pay/no interest thing. would've rather done the no payment EVER but.... Anyways, no problems with the company.

 

[garchib]

I used them....no issues with them whatsoever....

 

[Cliff_Johns]

I got 3 years 0% after the cash negotiations were complete. I asked of it would cost the dealer any money if I went ahead and used the financing and he sais no. So we did that. No extra fees, no problems. They just wanted to make sure that we sent them proof of insurance. I am quite happy with that.

Cliff

 

[Magruder]

I used JD credit to buy my 790. The interest was lower than my credit union offerd and early payment had no penalties at that time. I would make sure and ask the dealer, as programs and offers are changing all the time, and you don't want any surprises. Come to think of it I just got a promotion in the mail for "Spring Training" w/ 0% on selected models. Don't know if the one you're looking at is included.

 

[RoyJackson]

I've used John Deere Credit for both tractors I've purchased. There are no pre-payoff penalties.

Got a pretty good interest rate too, considering they were both used machines.

As far as insurance, I just gave them my Homeowner's policy number. Of course, this is for residential use, not commercial or agricultural.

 

[bigpete]

Ah'yup, all of the above. JD financing has very simple programs. If it's the right deal and the right rate, I wouldn't hesitate to use them. I've had three JD equipment loans and my family has had a couple over the last 40 years for major farm purchases when the bank wasn't a good fit. I have paid only a very small amount of interest by paying one of mine off early a few years ago, and never paid a penny of interest on my second loan. I'm on a 0% for three years right now and will make the last payment on the last day of the 36th month, no earlier.... /forums/images/graemlins/wink.gif Basically, JD makes their nut up front and believes in keeping us satisfied with no hassles and good parts and service. That's my take on their business model, anyway.

 

[obrith]

John Deere doesnt charge penalties for early payment.

However, if you DONT pay off a loan on the 0% programs (6-12months), they charge you credit-card style rates (19%+) FROM THE BEGINNING of the loan; IE the day you recieved it.

Be very careful with JD financing. They have good programs, but they are atleast as mean as your credit-card company if you miss a payment or get the 0% program and cant pay it off in time. Read the fine print.

I can vouch for Kubotas financing though. Everything is simple-intrest/fee-free (aside from UCC-1's).

Hope that helps.

 

[GaryBDavis]

I just recently took advantage of JD Credit’s zero interest on a tractor purchase. I had to call JD Credit because my payment coupon book hadn’t shown up yet. While I was on the phone with them, I asked about any harsh penalty’s if you are late on a payment. The customer service lady said they don’t use those schemes. Granted, I haven’t read all of the fine print in my purchase contract, but I would be surprised to find that in there. Did you know first hand that JD Credit employs a harsh penalty/late payment scheme? If so, it would be good to know.

At any rate, I’m making my first payment a double payment. That way, I have a month’s grace period.

 

[Wannafish]

"At any rate, I’m making my first payment a double payment. That way, I have a month’s grace period."

Just make sure you send in 2 coupons with your payments or they will apply the money from the second payment to the principal of the loan and you will still have to pay next month's payment...please don't ask how I found that out /forums/images/graemlins/crazy.gif

 

[BillyP]

I know this guy that has his tractor financed through JD Credit. My...I mean his wife forgot to make the payment one time and got a reminder from JDC. They also assessed a $5.00 penalty. Sounds pretty harsh to me /forums/images/graemlins/shocked.gif