B3030 Final Payment - She's all mine

[laen64]

Congrats to all you guys! I look forward to the day I finally pull the trigger on the BX 2660 w/FEL,60"mmm, BB,54"cutter.

HooAH!

 

[JOHNTHOMAS]

Laen 64: The sooner you buy...the sooner it will be paid off.

 

[TripleR]

I have always paid cash for my tractors and equipment, but am beginning to wonder.

I would be interested to know the pros/cons of financing vs cash. I hate making payments, but that may not make economic sense.

 

[crbr]

I have always paid cash for my tractors and equipment, but am beginning to wonder.

I would be interested to know the pros/cons of financing vs cash. I hate making payments, but that may not make economic sense.

The interest is built into the pricing. It's a wash all said and done. Thus the tiny margin for negotiations and mark-downs. Nothing is free in a world-wide corporation of marketing and sales. They are not losing money any way one looks at it, regardless of how the pricing is packaged and announced.

Cash is king.

 

[powerstroke444e]

I have always paid cash for my tractors and equipment, but am beginning to wonder.

I would be interested to know the pros/cons of financing vs cash. I hate making payments, but that may not make economic sense.

I think your on to something as when I purchase the last Kubota there was no price differance cash or 0% for 54 months? Thus I put it on the payment plan.

 

[JOHNTHOMAS]

I have always paid cash for my tractors and equipment, but am beginning to wonder.

I would be interested to know the pros/cons of financing vs cash. I hate making payments, but that may not make economic sense.

When money is truly interest free it does not make economic sense to not take it and put your cash in the bank and draw some interest on it. Now, if you have any other debt that charges interest then take cash you have and pay those debts off and make the payments on the interest free tractor (or car) loan. This can even go further for those that want to wait till they save enough cash to buy and pay cash. You save for 5 years or maybe 4 years till you have the cash then you go buy and the price of the tractor (car)has gone up 20% and then you also die 2 months later. Then the "Bango picker" that fills your shoes thanks you ever time he rides around on your tractor (car). OK, I know life isn't (should not be)instant gratification all the time but money has no real vaue other than what it will buy you or your family or charitable causes. I'm not saying go into debt you can't pay and know you can't but if you can pay it off then consider the options. Wait and wear yourself out or save yourself some wear and tear with a smile on your face. Now, to true interest. Go make your bottom line deal for the tractor (car) being financed. Tell them you'll decide the next day. The next day come back and offer a cash price some hundreds of dollars less and see if they will take it. If they will take less for cash then it wasn't truly 0%. If they say no, it's the same price, then it's truly 0%. As has been mentioned before, the company is not going to lose money so the 0% is built into the price but everyone is paying for that interest cost whether they take advantage of it or not. So, you cash buyers keep on doing what you are doing for us financing buyers (the majority of buyers), your saving us money or paying our interest for us. One other point, hard times come up and you have this debt of $xxxx thousand dollars. The tractor (car less) has some value and can be sold to pay off the debt so your probably not going to lose your home because of a tractor purchase. You'll just have to go back to using a push mower.

 

[forester2]

Well put JohnT! Paid my B3030 off this summer. Hate financing but 0% vs nothing for cash makes the decision easy. Of course, now I want another piece of equip. but the wife said 'we just paid off the tractor; can't you wait to buy some else'. My response was (you're gonn'a love this) but hon, we really haven't bought anything for over 3 years, we just took advantage of using their money. I think it's going to work.

 

[crbr]

When money is truly interest free it does not make economic sense to not take it and put your cash in the bank and draw some interest on it. Now, if you have any other debt that charges interest then take cash you have and pay those debts off and make the payments on the interest free tractor (or car) loan. This can even go further for those that want to wait till they save enough cash to buy and pay cash. You save for 5 years or maybe 4 years till you have the cash then you go buy and the price of the tractor (car)has gone up 20% and then you also die 2 months later. Then the "Bango picker" that fills your shoes thanks you ever time he rides around on your tractor (car). OK, I know life isn't (should not be)instant gratification all the time but money has no real vaue other than what it will buy you or your family or charitable causes. I'm not saying go into debt you can't pay and know you can't but if you can pay it off then consider the options. Wait and wear yourself out or save yourself some wear and tear with a smile on your face. Now, to true interest. Go make your bottom line deal for the tractor (car) being financed. Tell them you'll decide the next day. The next day come back and offer a cash price some hundreds of dollars less and see if they will take it. If they will take less for cash then it wasn't truly 0%. If they say no, it's the same price, then it's truly 0%. As has been mentioned before, the company is not going to lose money so the 0% is built into the price but everyone is paying for that interest cost including myself as a borrower whether they take advantage of it or not. So, you cash buyers keep on doing what you are doing for us financing buyers (the majority of buyers), your saving us money or paying our interest for us. One other point, hard times come up and you have this debt of $xxxx thousand dollars. The tractor (car less) has some value and can be sold to pay off the debt so your probably not going to lose your home because of a tractor purchase. You'll just have to go back to using a push mower.

Funny. Contradictory but funny. Thanks.

 

[TripleR]

Thanks for the replies, looks like I will have to do some thinking before I make my next purchase. I can afford to pay cash, but now that I know I am financing John's fleet, it doesn't seem like such a good thing; may have to do a Kubota intervention on him...

 

[mjarrels]

It is a wonderfull feeling to pay off debt... All my cars, truck and tractors are paid for! Sweetest deal is when I paid my house off 21 years early! Own two houses debt free!

mark