Financing JD Low Introductory Payment Financing

[454shooter]

Anyone ever use this financing option?: No down payment required. Reduced payments for the first 36 months with a 7.9% APR and is for qualified buyers. After the first 36 months, payments will be based on 2% of the amount financed at 7.9% APR.
I sent an email to deere based on a loan of 25Kand they replied: In researching your request for information on
the Low Payment option the repayment would be $299.00 for 36 months at 7.9%. After the 36 months are up the payment would be 2% of the original amount financed or $500.00 for 48 months financed at 7.9%. The total time period would be 84 months. This would be an approximate payment and time period.
Anyone go this route and were you satisfied? AND did you refinance after a time period?
I really want to order a 3720 with hoe and mower and am considering my finance options as I can't swing a 3 year finance and still be able to have food and shelter. I already have a home equity loan so that option is out for a couple years. Thought the 3 years of lower payments would buy me some time so I could then refinance.
Thanks in advance for any replies.

 

[DJLX]

I did the low intro payment for my X585. I did not like it although some of it was my fault. They were suppose to be taking automatic payments but didn't. They still collected interest though and it was three months until payments started. The low payment is just paying the interest and not the loan so really nothing gets paid until it goes up. In the long run you end up paying more. /forums/images/graemlins/frown.gif

 

[rivers]

Wait and see what happens on Tuesday. My dealer said that compact sales are down significantly and Deere needs to stay competitive. I won't be surprised to see better deals. Dealer tried to get the scoop for Tuesday, but Deere Finance was tight lipped, saying that they wouldn't know anything until then.

I'm locked in at 2.9 percent for 36 months. If things get better on Tuesday, then I'll make the switch. We'll see what Tuesday holds.