Buying Advice Kubota or Kioti or Mahindra or LS or McCormick????

[azkubotaguy]

I just bought a Kubota L3800 on the 0% Interest for 60 Months, the insurance rate broke down to $ 257.00 per year or $ 21.44 a month. I did not think it was a bad rate considering it covers:

Theft
Fire
Glass Breakage
Falling Objects
Collision
Hail
Tornado
Hurricane
Flood
Vandalism
Roll-Over (upset)
Earthquake
Water Damage

I carry insurance on everything I own, so this tractor would be no exception.

 

[TomSeller]

I just bought a Kubota L3800 on the 0% Interest for 60 Months, the insurance rate broke down to $ 257.00 per year or $ 21.44 a month.
I carry insurance on everything I own, so this tractor would be no exception.

Excellent. Please post pictures, we like pictures.

 

[Coyote machine]

Who said anything about the government? The government's only role here is to require that insurance be from someone other than the loan company. The loan company can simply offer some independent insurance company options or the buyer is free to provide their own. The lender just needs to specify what kind of coverage is required. The buyer then provides proof of coverage. This prevents lenders from gouging on insurance rates and hiding so-called "interest free" costs.

Now if lenders wanted to offer insurance that gets rebated back to the buyer when the loan is paid off, I could get behind that. Many short-term loans at big box stores sorta work like this. No interest as long as you pay on time; be late and it'll cost you dearly. I'm OK with this tactic as long as it's clear up front.

Cost of insurance against loan default vs. costs to cover loss will vary from situation to situation. Insurance is all about assessed risk. Risks are very unique to each situation. In some cases the risks of default are higher. In others, the risk of loss are higher. Risk: This is what all insurance is about, including healthcare.

Insurance rebating is illegal. No interest does not mean you're not paying a higher rate, (amount of total $ spent) than if you were to buy by cash. It only means the loan is not charging a rate higher than zero percent. The cost of buying the money is calculated into the number of payments over the duration of the loan. Kubota's required 'insurance' on their loans is handled by a third party, and everyone makes money on the deal, all paid by the consumer. It's sort of like credit life insurance that car dealers offer to make sure the finace company gets paid even if the buyer croaks; in this case, since it's a tractor the third party offers benefits like fire or other incentives to sweeten the deal. They count on not having too many claims and that's where they make their money, actuarial computation of accessed risk.

 

[azkubotaguy]

Excellent. Please post pictures, we like pictures.

Ask and you shall receive

 

[AchingBack]

How crazy is it that "Nuclear Accidents" are listed !?

I should point out that both my credit union (first tractor loan) and AgriCredit (my LS) require insurance. But they don't specify which type of policy or coverages are required. Both are covered under my standard homeowners policy thru StateFarm and therefore I'm not paying any extra for it.

However, I'm not covered to the extent that the Kubota insurance does.

I financed my tractor through AgriCredit. The policy for a 36 month contract on a $15K purchase was a mere $75.00 per year; a little over $6.00 a month. Pretty cheap for piece of mind. Tractor are stolen, rolled, smashed into, destroyed in floods, hurricanes, and tornadoes, catch fire, and so forth. Without insurance, who is going to replace the tractor while the person who financed it is still paying for the loan?

 

[k0ua]

I could have bought any insurance that I wanted, yes I needed to show proof of insurance for agricredit on my Kioti. I choose the Kubota KTAC based on their reputation and price. In other words, how much for how much. They were easy to deal with. I have never had a claim, but based on the testimony of others, they seem to be a good value.

James K0UA

 

[TomSeller]

Ask and you shall receive

Very nice.

 

[PWM3rd]

Narrowing down my choices finally and would love the input from TBN network of friends/ The Kubota B3200HSD or the Yanmar EX3200? As most of you have stated, there are many "great" small tractors out there but you need to be happy with the "dealer relationship" and service reputation. Both of these dealers have been very professional with no pressure. Any advise on "pulling the trigger" for either one of these tractors will be appreciated as well as play some part in my final decision. "I'm sick of waking up in my sleep every night thinking of tractors"....:confused3:

 

[TSO]

Narrowing down my choices finally and would love the input from TBN network of friends/ The Kubota B3200HSD or the Yanmar EX3200? As most of you have stated, there are many "great" small tractors out there but you need to be happy with the "dealer relationship" and service reputation. Both of these dealers have been very professional with no pressure. Any advise on "pulling the trigger" for either one of these tractors will be appreciated as well as play some part in my final decision. "I'm sick of waking up in my sleep every night thinking of tractors"....:confused3:

I like the yellow coloring ... looks good with the black. Good luck.

 

[TomSeller]

. "I'm sick of waking up in my sleep every night thinking of tractors"....:confused3:

Man, you are living the life, what else would you want to wake up dreaming about?

Of the two, they are both good brands but I would choose Kubota in that size range. Tons of dealers and parts.