1st payment done

[JOHNTHOMAS]

Congratulations. I to can't understand why anyone would pay cash for one instead of putting the cash in the bank and making payments from the bank stash and gaining the interest earned.
Made my first payment on my RTV1140 on the 19th of Dec only 59 more to go. Left a voided check with Barlows when I bought it so I don't do anything further other than write an extraction figure each month from my checking account.
Only 12 more payments on my F2680E and I've had my BX25 since Feb so not sure how many payments left on it, don't think it was 60 when I got it and not sure on the F2880, Guess if I cared I can always go to the KCC site and see all my paid off contracts and my remaining contracts. Don't care, one day they will stop taking the money out of my checking account and send me a PAID contract. Maybe then I'll trade again as I did once before when I got two (BX1500 and B7800) paid off. That's when the BX2350 and L3240HST showed up and both of them are long gone.

 

[TripleR]

I HATE debt and payments, so I pay cash for everything. My peace of mind is more important to me than a few dollars. I don't understand why anyone other than our heirs would care one way or the other how we spend our money; this comes up every time this subject is mentioned.

 

[smstonypoint]

My cash is earning over 15% per year (I can post my account again if anyone doesn't believe it) and the borrowed dollars are depreciating in value.

Well, congratulations. So, are you claiming that you can do this year in and year out every year? If so, I would like to see your accounts for the last 10 years.

Steve

 

[JJZ 109]

Congratulations. I to can't understand why anyone would pay cash for one instead of putting the cash in the bank and making payments from the bank stash and gaining the interest earned.

It's been my experience that the interest being paid by most banks is minimal.The pittance I'd make from interest isn't worth the headache of a monthly payement. It's also another liability on the credit if I wanted to borrow for something more important than a tractor. Like Triple R, I'd just as soon not have a payment hanging over my head for the next 5 years if I can avoid it.
I also consider the fact that nobody lives forever. What if I'm not around before the term is up? A paid in full item is one less hassle for my future wife, not to mention the extra money spent if you opt for life insurance on the loan.
There's no right or wrong answer. Each individual has his/her own reasons for the way they operate.

Well, congratulations. So, are you claiming that you can do this year in and year out every year? If so, I would like to see you accounts for the last 10 years.

Steve

I agree. If it was that simple none of us would bother with other investment vehicles. We'd all have our money in gold & silver.

 

[brin]

Well, congratulations. So, are you claiming that you can do this year in and year out every year? If so, I would like to see you accounts for the last 10 years.

Steve

:thumbsup:Me too!

 

[ruralNearDallas]

I agree with the person who said he can't wait tiil his is paid off.

On the other hand, I agree with those who said with 0% it is better to finance and pay monthly. The upsides are plenty. The downsides are the monthly hassles (as mentioned), and the discipline to keep the money around until pay off.

I can't wait to pay mine off (about 6 more months), but I also can do math and realize that if I had paid cash, I would be just as sorry about the missing money.

 

[bigbull338]

dont give the guy such a hard time.he knows what he is doing by making the payments an saving his cash.when i bought my kubota i couldve paid it off.but i was like man no need in doing that when i get the money easy.heck i even made kubota pay the interest by knocking off another $2 grand.

 

[JOHNTHOMAS]

I HATE debt and payments, so I pay cash for everything. My peace of mind is more important to me than a few dollars. I don't understand why anyone other than our heirs would care one way or the other how we spend our money; this comes up every time this subject is mentioned.

Everybody HATES DEBT ABD PAYMENTS! It just bothers some more than others but we all hate it, well, except for lenders.
The hassle of making the monthly payment is writing the figure in my check book each month that KCC has taken out of my account and subtracting the amount from the line above it. Lot of hassle for sure.
If you saw a friend about to make a mistake (in your mind and from your experience) would you not mention it to him? You give advise to people all the time on this forum and I appreciate it. Your one of the tops on my list.:thumbsup: We care how you save or waste money if we feel we know better and document how and why we know better. Your a smart man and you know that paying cash instead of financing at 0% is a purly emotional issue and not a financial wisdom issue. Since you feel as strongly as you do then I advise you to pay cash cause you got it.:thumbsup: But we also know that saving a dollar or two or a hundred or three hundred or five hundred or a thousand can buy another implement or two.
Very few people can earn 15% annually on investing but if one does more power to him. Let's stay realistic and even err on the low side to not lose the naysayer up front. Most anyone should be able to earn 2%. $20,000 times 2% is $400 just in the first year. It doesn't take many of those to see that it's costing many people $1000 or more for that peace of mind and saving the widow the hassle of writing one check from the set aside pot to pay off that Kubota.
We give our opinions because this is an opinion forum and I think this was under Buying a Kubota so I think it is most appropriate for us that are willing to go to a little bit of hassle to save a thousand dollar to tell others about it and how to do it.
As a Counselor I do know that some of you need to pay cash and don't buy anything that you can't pay cash for it. Don't know of any farmers that didn't inherit their farm that didn't finance it but sure there are some. Debt is debt. To pick and choose that one debt is OK and another isn't based on a persons income and credit is............guess you can decide they rest of the answer. If you can't or aren't going to pay your debts, don't finance.

 

[TripleR]

Everybody HATES DEBT ABD PAYMENTS! It just bothers some more than others but we all hate it, well, except for lenders.
The hassle of making the monthly payment is writing the figure in my check book each month that KCC has taken out of my account and subtracting the amount from the line above it. Lot of hassle for sure.
If you saw a friend about to make a mistake (in your mind and from your experience) would you not mention it to him? You give advise to people all the time on this forum and I appreciate it. Your one of the tops on my list.:thumbsup: We care how you save or waste money if we feel we know better and document how and why we know better. Your a smart man and you know that paying cash instead of financing at 0% is a purly emotional issue and not a financial wisdom issue. Since you feel as strongly as you do then I advise you to pay cash cause you got it.:thumbsup: But we also know that saving a dollar or two or a hundred or three hundred or five hundred or a thousand can buy another implement or two.
Very few people can earn 15% annually on investing but if one does more power to him. Let's stay realistic and even err on the low side to not lose the naysayer up front. Most anyone should be able to earn 2%. $20,000 times 2% is $400 just in the first year. It doesn't take many of those to see that it's costing many people $1000 or more for that peace of mind and saving the widow the hassle of writing one check from the set aside pot to pay off that Kubota.
We give our opinions because this is an opinion forum and I think this was under Buying a Kubota so I think it is most appropriate for us that are willing to go to a little bit of hassle to save a thousand dollar to tell others about it and how to do it.
As a Counselor I do know that some of you need to pay cash and don't buy anything that you can't pay cash for it. Don't know of any farmers that didn't inherit their farm that didn't finance it but sure there are some. Debt is debt. To pick and choose that one debt is OK and another isn't based on a persons income and credit is............guess you can decide they rest of the answer. If you can't or aren't going to pay your debts, don't finance.

All well and true John and as usual a very good post, but I just gotta laugh as I think we both have similar philosophies, we just go about it from different directions. From a purely financial standpoint, I would never advise a friend to buy 130 cars or 12 Kubotas.:laughing: I have always kept a vehicle a minimum of 10 years or 200k miles and sometimes longer, so buying selling all the time never made much economic sense. I also have tractors made in the 50's still being used. I think I may be breaking out of that a little bit now though.

Neither of us live our lives with the balance sheet as a guide though I had to most of my life, so now we do what makes our life the most pleasant and for me that is paying cash whenever possible or practical. Having lived my first 60 years a slave to payment books, being able to pay cash brings me great satisfaction.

I agree completely that the choice of payment is often based on other than financial grounds for me and have so stated, so I provide opinion and not advice on this subject.

On our last cash purchase, M8540 HSDC, I consulted with a financial professional and was advised to go with cash as we originally intended to finance through our LLC. And no I don't really understand the ins and outs as that is why he gets paid.

I always enjoy your posts, opinions, advice and help. Larry

 

[JOHNTHOMAS]

All well and true John and as usual a very good post, but I just gotta laugh as I think we both have similar philosophies, we just go about it from different directions. From a purely financial standpoint, I would never advise a friend to buy 130 cars or 12 Kubotas.:laughing: I have always kept a vehicle a minimum of 10 years or 200k miles and sometimes longer, so buying selling all the time never made much economic sense. I also have tractors made in the 50's still being used. I think I may be breaking out of that a little bit now though.

Neither of us live our lives with the balance sheet as a guide though I had to most of my life, so now we do what makes our life the most pleasant and for me that is paying cash whenever possible or practical. Having lived my first 60 years a slave to payment books, being able to pay cash brings me great satisfaction.

I agree completely that the choice of payment is often based on other than financial grounds for me and have so stated, so I provide opinion and not advice on this subject.

On our last cash purchase, M8540 HSDC, I consulted with a financial professional and was advised to go with cash as we originally intended to finance through our LLC. And no I don't really understand the ins and outs as that is why he gets paid.

I always enjoy your posts, opinions, advice and help. Larry

I knew you would take my post as intended. Discussion and not argument between friends.:thumbsup:
I have to smile about my buying so many cars and so many tractors. I as you have had to watch the bottom line most of my life and still have to but........as with you there has to be some reason for saving here and there. it's so we can buy things we want and don't need and feel OK about it. Knowing we saved $7500 on the house financing that we had to have justifies a $12500 RTV that we want. I have always shopped and researched for the best price on those 130 cars and 12 Kubotas!!!
I have a not reasonable but still there phobia. I grew up in the 60's when cars were better, not. You had to keep a big screwdriver to jump the solinoid and a good spare tire and some water for vapor locks and always two big friends to help push. When a car nears 40000 miles I'm afraid to take it out of town. Not logical but it's still there.
I to look forward to your responses on this forum and respect your many years of tractor ownership that exceed mine by probably 5x. I know you know the farm side and the around the house use which is my use. I don't do farms and never have. We did have a small garden this past year and plan on another one next year but sure don't need a tractor for it.
HAPPY NEW YEAR, My Friend.:thumbsup: