0% 60 months

tooln · Sep 16, 2014

Do you think this will be extended?

0% APR for 60 Months on New John Deere 2 Family and 3E Series Compact Utility Tractors PLUS $500 off with the purchase of 2 or more John Deere or Frontier implements. Offer available August 1, 2014 through October 31, 2014.

kcflhrc · Sep 16, 2014

Hard to say, I got the same deal in January of this year on my 3032E

fishheadbob · Sep 16, 2014

Heck, I got it 29 months ago. But there is no free lunch; I offered to pay cash looking for a discount which didn't happen. The cost of the interest is built into the selling price however the Deere was the best deal around looking at comparables.

kcflhrc · Sep 17, 2014

Odd that JD would put the cost of interest in the price of a tractor. Who told you that? Why would they not discount to a cash buyer?

fishheadbob · Sep 18, 2014

kcflhrc said:
Odd that JD would put the cost of interest in the price of a tractor. Who told you that? Why would they not discount to a cash buyer?

Nobody came out and said that the interest was specifically included, as I said there's no free lunch. Auto dealers frequently offer 0% or a few thousand in rebates but rarely both on the same vehicle.
Why wouldn't they discount more for cash ? You'd have to ask JD. I suppose when a sale is made JD finance kicks a check to the dealer for the full sales price. If they gave me an additional discount for cash, the check I wrote them would be slightly less than the one from JD. Why take less.

kcflhrc · Sep 18, 2014

The dealer gets their money no matter what, finance or cash. Not sure where the profit comes in when it's 0%. All I know is I take the tractor price and divide it by 60 and that's my monthly payment, simple enough. I cant borrow money anywhere for that. JD does the 0% to move their products, just like Harley, General Motors, Ford etc. I specifically asked my dealer also if the cash price was different than financing through JD, the answer was no, same price. So why go get a loan for even 1%, just doesn't make sense. Now, they do require insurance either through them or another source, but that's true with any vehicle. Their insurance was $330 for the life of the loan, covers theft, roll over etc. Once again, a bargain for 5 years of coverage.

tooln · Sep 18, 2014

I asked one dealer I talked to about the 0-60 and if it would be extended and they told me as long as the competitors are offering the financing @ 0 % JD would also to stay competitive.

DVR · Sep 18, 2014

There is also a loan origination fee with JD finance. So cash would at least save that.
The insurance through JD is pretty good and so is the rate. If you pay off the loan early they won't let you keep the coverage.
Every statement has a payoff listed. Payoff is less than the sum of the total remaining payments. It deducts the the remaining insurance cost as it will not be extended.

MechE1 · Oct 1, 2014

I've been watching for years. The 0%/60 is the norm. I'm surprised they have not increased the 0% to 72 based on others offers. If interest rates start going up that might be a good indication that things like this could change. The offer for "cash back" on the implements comes and goes depending on what Deere wants to sell more of it seems. I'm looking at the new 3R series so I'm hoping they want to start to move more of these now that they are in production and offer implement incentive as well. Deere runs these in 3 month cycles. Feb-Apr. May-Jul. Aug-Oct. and Nov-Jan.