Curious if Many Folks are Financing tractors

[Revelation]

I refuse to pay interest on a credit card. When I bought my John Deere, they had no interest for a year....so I paid it off within the year.

 

[copefarms]

If I cant pay cash for it I dont need it.
Bought last three houses with cash, bought all my cars since I was old enough to drive with cash. Just bought my tractor with cash.
Best way to be. Dont have to worry about the repo man paying me a visit when I own the title or deed to everything I own.

 

[Duffster]

If I cant pay cash for it I dont need it.
Bought last three houses with cash, bought all my cars since I was old enough to drive with cash. Just bought my tractor with cash.
Best way to be. Dont have to worry about the repo man paying me a visit when I own the title or deed to everything I own.

Amen.

 

[Hematite]

I think that it's funny that anyone would want to pay cash for something that they can pay for monthly at no interest. If you took the cash and put it in an interest bearing account and paid a monthly payment from that account at 0% you would be WAY ahead, dollar wise, of paying cash up front.

Even if you could get a better price for cash, as was suggested earlier, I can make more than twice what I can save by putting the cash in an interest bearing account and paying off at 0%. This is definitely a no brainer once the numbers are crunched!

I just bought a brand new New Holland T2310 (aka Boomer 3040) 2008 aged inventory tractor (last years model) at an additional discount for the year and a 0% for 60 months. That was an ultra nobrainer!

 

[Duffster]

I think that it's funny that anyone would want to pay cash for something that they can pay for monthly at no interest. If you took the cash and put it in an interest bearing account and paid a monthly payment from that account at 0% you would be WAY ahead, dollar wise, of paying cash up front.

Even if you could get a better price for cash, as was suggested earlier, I can make more than twice what I can save by putting the cash in an interest bearing account and paying off at 0%. This is definitely a no brainer once the numbers are crunched!

I just bought a brand new New Holland T2310 (aka Boomer 3040) 2008 aged inventory tractor (last years model) at an additional discount for the year and a 0% for 60 months. That was an ultra nobrainer!

But did you have the cash?

How much rebate did you lose to get the 0%?

How much was the purchase price (roughly)?

 

[shane]

You might check and see how much (if any) the 0% interest raises the cost of the tractor. When I was tractor shopping I found that the price went up about $1,000-$1,500 when you finance through the manufactuer.

When I was shopping I looked long and hard, willing to pay cash. I did not find any better deals. I negotiated between a couple of dealers and finally took the best offer. I had the cash and offered it. They were not willing to come off any more so I took the 3 year no interest.

 

[WilliamBos]

If I cant pay cash for it I dont need it.
Bought last three houses with cash, bought all my cars since I was old enough to drive with cash. Just bought my tractor with cash.
Best way to be. Dont have to worry about the repo man paying me a visit when I own the title or deed to everything I own.

All the power to you for doing it. Is your employer looking for help? I need a good paying gig like yours...

 

[Will_C]

I had the cash when I bought my tractor, but I used the 0% Kubota financing. The dealer told me he could no better if I paid for it with cash, and the fee for using the credit was $60.00 It was a no-brainer for me.
Will

 

[Builder]

I had the cash when I bought my tractor, but I used the 0% Kubota financing. The dealer told me he could no better if I paid for it with cash, and the fee for using the credit was $60.00 It was a no-brainer for me.
Will

I have been told the same thing on the last few pieces I financed. One salesman told me "I don't care if you pay in cash or gold, it's still the same price as if you take the financing".

I generally finance to keep my cash freed-up for other opportunities (land, houses, etc.). As long as the interest rate is low or 0% and there's no prepayment penalty, I take the financing.

Our economy is too screwed up and too unpredictable to plunk down huge sums of my cash on equipment that may need to be sold because of government policy changes, huge downswings in the economy, etc.

Besides, my business model changes too often. I'm not a farmer plowing up the same 200 acres every spring/fall.

Your results may vary.

 

[TYMinColton]

I have been told the same thing on the last few pieces I financed. One salesman told me "I don't care if you pay in cash or gold, it's still the same price as if you take the financing".

I generally finance to keep my cash freed-up for other opportunities (land, houses, etc.). As long as the interest rate is low or 0% and there's no prepayment penalty, I take the financing.

Our economy is too screwed up and too unpredictable to plunk down huge sums of my cash on equipment that may need to be sold because of government policy changes, huge downswings in the economy, etc.

Besides, my business model changes too often. I'm not a farmer plowing up the same 200 acres every spring/fall.

Your results may vary.

Wow! I'm a bit surprised to hear that folks are finding a true 0%/XX months. Every dealer I looked at (red, green, orange) offered some version of 0%, but you got roughly $500-1000 cash back per 10,000k in cost. If you have cash, it's still pretty much king in my book. Just have to read the fine print I guess . . . Congrats to any of you who wheeled and dealed your way into a true 0% machine.