Buying Advice kubota L3560 - 2% upfront financing fee

[Peter 315]

Yes, all were very close....... until you add in the 2% financing fee which I don't know if other dealers would have charged. Barlow's was about $1,200 cheaper ($1,800 now with the $640 fee), but I know there is value to buying local and building a relationship with a nearby dealership.

I looked I got 0% on my l47 but the financing fee was 0.11% and was 150.00 , 0 down 0% for 60 months The tractor price come out to what was quoted in the end....

 

[Peter 315]

That was in 2017 tractor was **,750 I paid **,800 so 50.00 in fees........... but still the quoted price.......

 

[old and tired]

"cash back discount"...

You call it one thing, I call it paying all the interest up front. "Tomahto" / "Tomayto"

 

[chevy]

You call it one thing, I call it paying all the interest up front. "Tomahto" / "Tomayto"

The same as paying points when getting a mortgage. I do not ever recall reading how paying points to a was a bad thing.

 

[mangler]

Exactly. You pay either way. Now I encourage people to do the math. In my case the "cash discount" did not amount to 2%, or to what they were claiming as a cash discount on the website (dealer would say they are giving you a deal on the financed price ).

The upfront cost for 0% was the equivalent of paying 1.5% interest over the course of the loan, including registration/administration fees. Which made buying cash a losing proposition.

Finance administrative fee in the states (on top of the above, different pocket) seems to hover around 150USD. Anything much higher is the "dealer portion". Definitely negotiable.

 

[rScotty]

Yes, all were very close....... until you add in the 2% financing fee which I don't know if other dealers would have charged. Barlow's was about $1,200 cheaper ($1,800 now with the $640 fee), but I know there is value to buying local and building a relationship with a nearby dealership.

Yes, there is value in building a relationship with a nearby dealer....but just like picking friends, it only works if he is a dealer who will stand up for you with good prices & service. Otherwise the relationship may be one you want to avoid.

Sometimes it is hard to tell good from not so good dealers. At least it is for me. I've been burned a few times, and have to keep telling myself that just like I have things I do well, salemanship is what a dealer does well.

But the one way I know I can tell for sure about the dealer is when we are writing a contract to buy something. That's when I can tell if he is working to get me the best price, or working to maximize his profit. I found that whichever it is at that moment tells me exactly what it will be in the future. It's a window into how the dealer really thinks about the me as a customer. I've learned to look for that. It says a lot.
rScotty

 

[paulfun9]

If you have a cash price that's different from the "0%" finance, IT'S NOT 0% FINANCING :mur:

Nothing is zero percent finance!
If your paying the same amount as the so called zero percent guy your getting ripped off!

 

[rScotty]

If you have a cash price that's different from the "0%" finance, IT'S NOT 0% FINANCING :mur:

Nothing is zero percent finance!
If your paying the same amount as the so called zero percent guy your getting ripped off!

Are you sure about that?

 

[paulfun9]

Are you sure about that?

Yes I’m sure!

 

[old and tired]

Nothing is zero percent finance!

I agree with that... Finance would be rolled into the price of it. Just like Everything Attachment's "Free Shipping"...