Financing Financing experience's

[Slowpoke Slim]

Went through Wells Fargo's AG loan department via my Branson dealer. Process was done over the phone with my dealer and was pretty painless. All was approved and done in a matter of hours. Can either elect for direct electronic payments, or the good old fashioned payment book via mail.

 

[Blackcatstrat]

Thanks for that info Slim, I didn't know Wells Fargo had AG loans, they used to carry my mortgage so I have dealt with them before.
I will be looking into that for sure.
Hows that Branson treating you?

Jerry

 

[bdog]

I would not finance a tractor. The only thing I think it makes sense to borrow money for is a house. I would look into cheaper used tractors if buying a new one with cash is not in the budget.

 

[Turbys_1700]

At the time I purchased my new Workmaster 50 last year New Holland had I think 3.99% and 0% financing offers. The 0% offer used list price while 3.99% was typical financing with some money down. I ended up going with Farm Credit. The rate with them was actually 4.25% but they did not require New Holland insurance which in effect ended up with a lower payment per month. I think the New Holland insurance was over $1800 over the term of the loan. I was able to get insurance through Farm Bureau for less than half the New Holland insurance cost and pocketed the difference. The approval process was seamless and took less than a day.

My son just purchased a new Bob Cat ZTR from the same dealer and got 0% financing through Sheffield and his process was fast and easy. I think the requirements for them was a credit score over 700.

To be honest with you I have been considering one of those ZTR's also. Don't really care about another payment but 0% is attractive and my dealer cut substantially off list price. I've checked prices and they are very aggressive in pricing tractors, implements, and mowers. Make most of their $$$ off service.

 

[Dustind]

I used Kubota. I always wait for the zero % sale. love it

 

[check]

Hi, Jery. Looks like complications and stress are a big issue for you. I hear ya.

For absolute simplicity, I would go with the 0% deal that the dealers offer. When I was checking out Kubotas, for example the dealers near Toronto would each give me a price with and without the "0%" financing, so that I could figure out the true cost of borrowing. (Just divide the difference in pricing by the number of years financed, and then cut that in half sine the interest is of course applied on the declining balance.. The quotes I got worked out to about 4% interest, compared to about 2.5%So, Michelle will be living in the exact same building, just for floors below us. for mortgage money here in Ontario.

The nice thing about dealer financing, at least with Kubota, is that they offer a really nice insurance package that has received rave reviews here on TBN. So, if simplicity is the key then go with dealer financing, and they will arrange everything. There is nothing like one stop shopping!

Good luck with your purchase!

 

[Slowpoke Slim]

Thanks for that info Slim, I didn't know Wells Fargo had AG loans, they used to carry my mortgage so I have dealt with them before.
I will be looking into that for sure.
Hows that Branson treating you?

Jerry

Jerry,

Sorry I didn't reply sooner, didn't see your question the first time. The Branson has been fine so far, no complaints. Haven't put many hours on it yet, snow is gone and the grass hasn't really taken off yet. Only 10-12 hrs on it so far just regrading my driveway, after the snowmelt runoff washed a few ruts across the center of it.

 

[JK22]

Kubota credit has been great for me. They even send you a coupon book you can use for all your payments, you tear one out and send it in with your check. I just pay automatically.

 

[Catoosa]

Just went through this with my credit union, got a tractor loan for 2.9%. At that rate makes no sense to pull money out of investments.

 

[GManBart]

Check out AgDirect. I've used them twice and they have been very easy to work with. You can get a person on the phone right away, and their rates have been very competitive.