Financing Do Kubota incentives last through buying process?

[mljenkins]

Started dealing with dealer at the end of October this year. Placed a deposit on my tractor and implements Nov 20 (of course after credit ran and approved for financing), and tractor arrived to dealer around Dec 1, and has been in build since.

Tractor is not ready yet, and they ran into an issue today with the build which they are hoping to resolve by next week. I am concerned if they need parts they are not going to be able to deliver by year end. Dealer said I could sign the contract next week to lock in the incentives, but I am leery to do this after reading another member's story on the forums concerning partial delivery of their tractor and associated implements. The last thing I want is to be paying on a very expensive piece of equipment that is sitting in the shop for 2 months.

Does anyone know if Kubota will honor the incentives past the expiration date if I have already paid a deposit and been approved for credit? Without the 0%, the financing at 6% (no idea what it would really be) would cost over 10K, and at that point I'm not buying, but I don't want to lose my $1,000 deposit.

I'm hoping they deliver next week and this is a moot point, but if not, I've been placed in a real bind.

Thanks in advance,

Matt

 

[fried1765]

Started dealing with dealer at the end of October this year. Placed a deposit on my tractor and implements Nov 20 (of course after credit ran and approved for financing), and tractor arrived to dealer around Dec 1, and has been in build since.

Tractor is not ready yet, and they ran into an issue today with the build which they are hoping to resolve by next week. I am concerned if they need parts they are not going to be able to deliver by year end. Dealer said I could sign the contract next week to lock in the incentives, but I am leery to do this after reading another member's story on the forums concerning partial delivery of their tractor and associated implements. The last thing I want is to be paying on a very expensive piece of equipment that is sitting in the shop for 2 months.

Does anyone know if Kubota will honor the incentives past the expiration date if I have already paid a deposit and been approved for credit? Without the 0%, the financing at 6% (no idea what it would really be) would cost over 10K, and at that point I'm not buying, but I don't want to lose my $1,000 deposit.

I'm hoping they deliver next week and this is a moot point, but if not, I've been placed in a real bind.

Thanks in advance,

Matt

Did you use a credit card for your deposit?
If so, check with your credit card company to see how they would handle the refund of your deposit, should the deal fall through.

 

[mljenkins]

Did you use a credit card for your deposit?
If so, check with your credit card company to see how they would handle the refund of your deposit, should the deal fall through.

Yes I did. But it will be past 30 days and I assumed there was a limit on that, aside from a debate process that could occur with the vendor. I’m hoping it doesn’t come to that and that the financing will still apply past the expiration, but hopefully someone else has experienced getting approved and ordering close to when the incentives end and ran into the same issue.

 

[fishpick]

I went to finalize my deal today on a new L4760 + FEL + snow blower and the tractor will not be delivered until mid Jan... after credit application approval the dealer told me as of Jan1 Kubota might not have the 84 month option - which in turn would spike the deal.
Apparently you need a serial number from a unit to lock in financing terms.

Your situation is a little different but that痴 what I was told today.

 

[mljenkins]

I went to finalize my deal today on a new L4760 + FEL + snow blower and the tractor will not be delivered until mid Jan... after credit application approval the dealer told me as of Jan1 Kubota might not have the 84 month option - which in turn would spike the deal.
Apparently you need a serial number from a unit to lock in financing terms.

Your situation is a little different but thatç—´ what I was told today.

So it sounds like closer to the end of their incentives you would have to buy as is off the lot. They have the serial on the tractor because it is of course at the dealer just not working. I don’t want to sign a contract until it is delivered as that gives me no leverage for it to ever leave the shop. As my wife said, once the sales guy is out of the picture the only person I can talk with is the shop guy who isn’t making anything on the deal.

Crossing my fingers it gets resolved next week...

 

[RickB]

So it sounds like closer to the end of their incentives you would have to buy as is off the lot. They have the serial on the tractor because it is of course at the dealer just not working. I don稚 want to sign a contract until it is delivered as that gives me no leverage for it to ever leave the shop. As my wife said, once the sales guy is out of the picture the only person I can talk with is the shop guy who isn稚 making anything on the deal.

Crossing my fingers it gets resolved next week...

Today´s programs require today’s contract. If you don’t trust the dealer to deliver your tractor you are at the wrong dealership. If you aren’t going to have trust in ANY dealer then you will settle for whatever program is in effect the day your tractor is delivered/ picked up.

 

[mljenkins]

Today´s programs require today’s contract. If you don’t trust the dealer to deliver your tractor you are at the wrong dealership. If you aren’t going to have trust in ANY dealer then you will settle for whatever program is in effect the day your tractor is delivered/ picked up.

Rick, I am new to our area. I spoke with 5 different dealers in a 1 hour radius of my farm, 3 which were Kubota. I went with the dealer that was more local and more responsive and knowledgeable. I did research on them prior to talking pricing. The point here is there is not yet an establishment of trust between myself and any dealer local to me.

My predicament is the deposit as I paid it with the intention, in writing, of getting specific financing. Financially it is unwise to pay full price on something with no guarantee of a delivery date. The package here isn’t a base model subcompact. It is a lot of money and I feel it in my best interest to protect myself financially. I can give countless examples from my vehicles to my home purchase where the final payout hasn’t happened without delivery, despite having a trust with the seller in many cases.

Perhaps I shouldn’t have posted the rest of my story other than to ask the simple question of if the financing will carry over. However I thought the background information regarding the actual build wait rather than receive from the factory could influence the incentive decision.

 

[RickB]

Rick, I am new to our area. I spoke with 5 different dealers in a 1 hour radius of my farm, 3 which were Kubota. I went with the dealer that was more local and more responsive and knowledgeable. I did research on them prior to talking pricing. The point here is there is not yet an establishment of trust between myself and any dealer local to me.

My predicament is the deposit as I paid it with the intention, in writing, of getting specific financing. Financially it is unwise to pay full price on something with no guarantee of a delivery date. The package here isn’t a base model subcompact. It is a lot of money and I feel it in my best interest to protect myself financially. I can give countless examples from my vehicles to my home purchase where the final payout hasn’t happened without delivery, despite having a trust with the seller in many cases.

Perhaps I shouldn’t have posted the rest of my story other than to ask the simple question of if the financing will carry over. However I thought the background information regarding the actual build wait rather than receive from the factory could influence the incentive decision.

I understand. And I was brusque. But my point is finance terms are finite in duration and are applicable to contracts executed while those terms are in place. Executed is the key word. Initiation date does not lock the terms in, execution does. Always has, probably always will. Not a Kubota exclusive, it’s been industry wide for longer than the two plus decades I’ve been a tractor dealership employee. It’s simply the way it works.

 

[mljenkins]

I understand. And I was brusque. But my point is finance terms are finite in duration and are applicable to contracts executed while those terms are in place. Executed is the key word. Initiation date does not lock the terms in, execution does. Always has, probably always will. Not a Kubota exclusive, it’s been industry wide for longer than the two plus decades I’ve been a tractor dealership employee. It’s simply the way it works.

Understood, and it makes sense considering at the end of the line there is a bank whereas the dealers and manufacturers are somewhat middlemen in the financial process. I was talking it over with my wife, and if things take longer than the end of the year, I may try to work something out with the dealer where I could sign the contract, and get a date in writing or otherwise they would be responsible for the payments. Either that or see if they would come down a payment on the total.

 

[RickB]

Consider that there really is no incentive for a dealer to needlessly delay delivery of a tractor/package without a valid reason. They literally have nothing to gain by holding your assets hostage. Serial numbers are listed, leins are filed when financing is involved. Insurance against loss is likely in place. The equipment isn’t going anywhere. Especially in this digital age where unscrupulous tactics can get widespread attention in short order.