Clarifying "Paid Off"...touches a few past threads

[QueBota]

Same here, mine arrived within two weeks of the payoff date. Going to check with the dealer next time I am over that way and see if they have a "title" or lien release document.

Dave

My 2 year 0% deal was paid off at KCC and I got a nice pay off letter and a copy of the retail installment contract showing it was paid in full.

 

[bowhunter3030]

Same here, mine arrived within two weeks of the payoff date. Going to check with the dealer next time I am over that way and see if they have a "title" or lien release document.

Dave

Good idea. Keep us posted.

Thanks,

Steve

 

[Bird]

Yep, my experience with KCC was the same as Bowhunter's, too.

 

[KeithInSpace]

I asked my dealer and he specifically stated that there is not "title" for these things. Tough week, so I didn't get to make any calls (2 hrs sleep Monday night, 6 Tuesday, 4 Wednesday, and never went to sleep Thursday night...worked straight through...collapsed at 9:00 pm Friday after getting my boy to bed).

Will this week, though.

 

[MikeD74T]

Financed my DK45S thru Agricredit Acceptance LLC, couldn't argue with 0% interest for 2 years. Made last payment 3 rd week in June. Expected something saying I was paid in full so called them. They take 6 weeks to send out a paid in full notice. Still waiting. MikeD74t

 

[fih25]

I paid my kubota off in May, I waited until Almost the end of June for something from KCC, I e-mailed them and received all the papers about 2 weeks later.

 

[khd]

My last payment was May and I got my papers from KCC last week. Came without asking.

Kevin

 

[Spiveyman]

Have you all considered the 100% down plan? It may take a little more patience, and may take time than some folks don't not have, but you can't beat the terms! I saved up and paid cash for a good used tractor to get started farming. My family isn't relying on my tractor for daily rations yet, so I have that luxury. I realize not everyone is in that position, but it certainly saves the hassle of dealing with finance people after the fact. Good luck getting things sorted out.

 

[ovrszd]

Have you all considered the 100% down plan? It may take a little more patience, and may take time than some folks don't not have, but you can't beat the terms! I saved up and paid cash for a good used tractor to get started farming. My family isn't relying on my tractor for daily rations yet, so I have that luxury. I realize not everyone is in that position, but it certainly saves the hassle of dealing with finance people after the fact. Good luck getting things sorted out.

That input was real helpful.....

 

[Z-Michigan]

Most states don't issue titles for tractors the way they do for highway vehicles. The dealer is presumably filing a "financing statement" under Article 9 of the Uniform Commercial Code (UCC) adopted by nearly all states in basically the same form. You definitely want to get a letter or something from the dealer that your loan has been paid in full and that they have, or will, release the lien. You also would ideally check and make sure that the lien is actually released, though this is some extra work (you would contact the applicable authority - probably the Secretary of State in your state - and ask about UCC filings and how to confirm that a lien has been removed).

It's all something of a pain. It's a very simple system for dealers and lawyers, but not so user friendly for consumers. I personally do like the 100% down plan, but obviously that doesn't work for many people.