0% loans on new tractors

[Turbys_1700]

I've not financed an auto in over 13 years. That time I went through my credit union. Better rates than the dealer offered. My cousin was the sales manager and got the truck at black book wholesale. They didn't tack on any administrative fees .

I just bought my Workmaster and New Holland is advertising 0 financing like others. Of course the 0 financing price was higher than the cash price. I traded in my 1720 and financed the left over amount through Farm Credit Finance at a lower cost than New Holland Finance.

 

[dickfoster]

A couple of the quotes I got on new tractors offered a cash price a $xx,xxx or the option of a 0% loan at a higher sales price. Of course you could still buy it at the cash price if you wanted a 4.99% loan. Going through the math, the total cost to the user is exactly the same, within $50, with the 4.99% loan as it is with the 0% loan. Are we as dumb as we look?

In short, nothing in life is free so don't go looking for it because you'll never find it. A lesson in life that everyone learns sooner or later. Well most do anyway, some go to their graves with empty pockets wearing rose colored glasses, they're called Democrats. LOL

 

[jaydee325]

And don't forget that when a dealer sells a loan for any lending institution they get a commission. I had a dealer quote me a price on a tractor with 0% financing once. I countered with the question, "what is the cash price?" Reply was, "same price"! I walked.

 

[dickfoster]

And don't forget that when a dealer sells a loan for any lending institution they get a commission. I had a dealer quote me a price on a tractor with 0% financing once. I countered with the question, "what is the cash price?" Reply was, "same price"! I walked.

Yep, I would have too. The difference would probably have gone into his pocket.

 

[Polarisjunky]

I just bought a Kubota and the zero percent financing was the same dollar amount for 60, 72, or 84 months. 72 was 10% down and 84 was 20% down. Deere was another story. 0% for 60 months. 72 and 84 cost more money plus finance fee.

 

[KennyG]

And don't forget that when a dealer sells a loan for any lending institution they get a commission. I had a dealer quote me a price on a tractor with 0% financing once. I countered with the question, "what is the cash price?" Reply was, "same price"! I walked.

Again, it depends on what the factory is offering. When I bought my tractor, I negotiated with the intent of paying cash. Then they explained that the 3 year financing was 0% with no financing fee. The load was from John Deere, not a bank. If it was factory financing, maybe you should have stayed.

 

[KennyG]

Duplicate

 

[DieselBound]

Also consider that the higher sales price comes with a higher tax amount.

 

[Cougsfan]

Ferguson, not Furgeson.

Harry Ferguson will never forgive me!

 

[Cougsfan]

I just wish people could play straight and honest with you and not try to pull the wool over your eyes. These games tell me that the company I am dealing with doesn't have very high standards of integrity. But unfortunately nearly every dealer or company considers it standard practice to try to trick you in some fashion. So these deceptive practices have slowly evolved into the accepted norm. Anyone who is offended by this is considered old-fashion, idealistic, naive, or a simpleton. That is a shame.