Financing Does Massey financing offer Insurance options?

[AxleHub]

Greetings,

We all know that if you're buying Kubota equipment and Land Pride implements . . . special financing options from Kubota thru its financing/insurance branch are offered. And as I just mentioned . . that includes Land Pride product included in the financing.

Well Massey has special financing options through their large Massey/AGCO tie in . . . and it also now includes Woods implements. However does Massey have an insurance opportunity offered with that financing . . . Like Kubota does with their's?

 

[MJB62676]

Greetings,

We all know that if you're buying Kubota equipment and Land Pride implements . . . special financing options from Kubota thru its financing/insurance branch are offered. And as I just mentioned . . that includes Land Pride product included in the financing.

Well Massey has special financing options through their large Massey/AGCO tie in . . . and it also now includes Woods implements. However does Massey have an insurance opportunity offered with that financing . . . Like Kubota does with their's?

All I know is I have insurance, and it was part of my deal. I think it was right around 600 bucks. I think it functions more like mortgage insurance rather than coverage on equipment.

 

[AxleHub]

All I know is I have insurance, and it was part of my deal. I think it was right around 600 bucks. I think it functions more like mortgage insurance rather than coverage on equipment.

Greetings mjb,

Interesting that you had to pay it upfront. What kind of financing did you get . . is it the 0% 72 month or one of the 1.99 or 2.99 or 3.99 for shorter periods?

How long ago did you buy?

I know in Kubota's case . . There is a couple filing fee types of items that add up to about $300 but those aren't about insurance .

I bet there are a bunch of readers who bought something on these finance plans . . . Anybody get insurance?

For reference: Kubota finabcing allows the buyer to use rgeir own ibsurance as long as it meets certain criteria. Their perdpective is they offer insurance . . not about loan issues . . . But about insuring the equipment from damage or accidents or transpirtation to dealers etc. etc..

 

[MJB62676]

Bought last month. I ended up doing the 6months no payments no interest followed by 5.5 yrs at 3.99. Just made more sense for us.

 

[moparmaga]

Massey does offer insurance just like Kubota. Agco credit was insistent that I use theirs or otherwise secure it from somewhere else before they would agree to finance.

I took the 0% for 72 months deal with a 10 percent downpayment.

What I really like about Massey is there is not one price for cash and one for credit like Kubota. It is all the same price. Come on now, how can you beat 10% down, 0% interest for 72 months, and the exact same price as if I was paying cash.

 

[AxleHub]

Massey does offer insurance just like Kubota. Agco credit was insistent that I use theirs or otherwise secure it from somewhere else before they would agree to finance.

I took the 0% for 72 months deal with a 10 percent downpayment.

What I really like about Massey is there is not one price for cash and one for credit like Kubota. It is all the same price. Come on now, how can you beat 10% down, 0% interest for 72 months, and the exact same price as if I was paying cash.

Well I'm not sure what you are refering to . . . But there is a definite difference in price whether its the 0% xx months rather than the cash price with the 1.99 or 2.99 or 3.99% rates. Its on the website . . . Its on each bid ive gotten from each Massey dealers.

 

[moparmaga]

Don't know. I was given three options.

Cash

0 down payment, 0 payments for 6 months, 0 interest for six months, 3.99% thereafter ----OR

Down Payment determined by AGCO on a credit score? basis. Think between 10 and 20% down and 0% for 72 months.

I'm looking at the "special offers" page of Masseyferguson.com and these two are what come up for me. Maybe the other rates are not "special?"

 

[ml8163]

Yes... MF financing does offer insurance and they role into your monthly payment. I just did it on my 2615. It only added a few extra dollars a month, so no big deal. Also, it takes away the hassle of having to get insurance lined up prior to purchase.

 

[onceacop]

State farm $300 for 35K coverage 500 deduct.

 

[AxleHub]

Well I have an answer to the question of Massey Ferguson insurance as I am looking at the rates and coverages.

We all know Kubota promotes their insurance on Kubotas with their own wholly owned insurance company KTAC.

Well AGCO has something similar.

Coverages from weather, collision, theft/vandalism etc. are pretty comprehensive.

It is a 5%/$500.00 deductible . No liability is included. And it is a combination of loan insurance and damage insurance.

Lets take an example. Lets say you will finance a $15,000 amount over 60 months at an Agco low interest rate. The cost of insurance is about $275.00 for the entire 60 months . . that's about $ 4.80 a month.

Now if you had it only under your homeowner's coverage . . Would tip over be covered . . would being stored or used somewhere else be covered . . how about flood, hail or other acts of nature be covered ??? If it even was covered . . at what deductibles?