Financing Financing

[Diggin It]

Looking like only some of the bigger companies do their own financing and offer '0%' options. The smaller companies like LS don't seem to. Some dealer pages link to various AG financing options, but they appear to be for the bigger farms, not the homeowner type buyer.

Banks and credit unions show rates, but they're all based on the individual, so I need to go in and talk to them, which is something I hate to do.

Where else do I look?

 

[Bigpuddie]

Farm Credit, line if credit, or personal loan. Typically people are lured to new tractors with cheap interest.

 

[Slowpoke Slim]

Call the dealer and ask who they normally work with?

 

[Gary Fowler]

Looking like only some of the bigger companies do their own financing and offer '0%' options. The smaller companies like LS don't seem to. Some dealer pages link to various AG financing options, but they appear to be for the bigger farms, not the homeowner type buyer.

Banks and credit unions show rates, but they're all based on the individual, so I need to go in and talk to them, which is something I hate to do.

Where else do I look?

LS offered true 0% interest when I bought my tractor but only for 24 months. Most if not all of the 0% interest come on deals from dealers are not true 0% since they just add in a portion or all of the interest into the loan that you finance. So check the pricing first with cash to dealer using your own financing then check the price with the dealer financing at 0% to see the real price.

 

[Geotech]

If you have a newer, paid off car, you could refinance it and use the cash to buy the tractor. Interest rates for auto loans are generally lower than for tractors.

 

[artho45]

I'm a big Dave Ramsey fan. If you haven't heard of him Goggle him. If you can't pay cash for a tractor then you shouldn't be buying it. Please no hate mail, just my opinion.

 

[coobie]

I'm a big Dave Ramsey fan. If you haven't heard of him Goggle him. If you can't pay cash for a tractor then you shouldn't be buying it. Please no hate mail, just my opinion.

SIGH !!!

 

[rngrrymd]

I'm a big Dave Ramsey fan. If you haven't heard of him Goggle him. If you can't pay cash for a tractor then you shouldn't be buying it. Please no hate mail, just my opinion.

Artho45, All the members here at TBN want to thank you for helping us out and offering to pay cash for our tractors. Please remember I'm first in line. Hopefully you'll have some of that hoard left over after paying cash for all our tractors - cause some of us have land, homes, cars, trucks and boats and we know you want to help us pay cash for those as well.

 

[Diggin It]

I make it a general rule to not buy things I can't pay for in cash. A house, a car and now a possible SCUT would be the exceptions which is partly why I'm having such a difficult time deciding. Thing is, there is a chance I could pay for it in cash, but it would mean pulling money out of a retirement account which I don't have immediate access to without a penalty that might be larger than the loan interest.

 

[artho45]

Artho45, All the members here at TBN want to thank you for helping us out and offering to pay cash for our tractors. Please remember I'm first in line. Hopefully you'll have some of that hoard left over after paying cash for all our tractors - cause some of us have land, homes, cars, trucks and boats and we know you want to help us pay cash for those as well.

Hey, I sure didn't mean to offend anyone. I'm just a normal person like I assume most of you on here are. I have a family a house and vehicles. I spent most of my life with debt. About 7 years ago I stumbled onto Dave Ramsey. we took his FPU class and it has changed our life. I don't sell anything for Dave, but I have coordinated several FPU classes and I see how it can change lives. Enough said. This will be my last post to this thread, and again if I offended anyone I am sorry.