Down Payment?????
- Thread starter Bill in VA
- Start date
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timswi
Elite Member
- Joined
- Nov 18, 2008
- Messages
- 4,997
- Location
- Beaver County Pa
- Tractor
- Kubota BX23 TLB, Kubota RTV1100, Kubota Z724 & Polaris RZR 900 Trail
I got 2.9 on my BX in 2004 with 10% down. 0% on my RTV500 with 10% down.
0% on my RTV1100 with 50% down...None of this had any impact on the purchace price. They didn't care what I was doing in this respect. I like to be in a position to fire-sale if needed. So if I'm not buried in the machine, I can clear the deck if needed. Hence the 50% on the last one. Could have paid for the whole thing, but i'm making a little on my cash now. So I held on to it.
0% on my RTV1100 with 50% down...None of this had any impact on the purchace price. They didn't care what I was doing in this respect. I like to be in a position to fire-sale if needed. So if I'm not buried in the machine, I can clear the deck if needed. Hence the 50% on the last one. Could have paid for the whole thing, but i'm making a little on my cash now. So I held on to it.
Cat_Driver
Veteran Member
- Joined
- Jan 15, 2008
- Messages
- 2,359
- Location
- Coachella Ca.
- Tractor
- 2016 Kubota 4060, 2017 Tackeuchi excavator TB260
Down payment means nothing to a dealer. It just passed through his hands anyway. He still makes what he makes even if you put down nothing or 20K.
He gets his money from the finance company then pays the manufacturer and keeps the rest.
Only people that love huge down payments are the finance company because if they repossess the unit they already have a nice chunk of your money.
He gets his money from the finance company then pays the manufacturer and keeps the rest.
Only people that love huge down payments are the finance company because if they repossess the unit they already have a nice chunk of your money.
OP
Bill in VA
Member
- Joined
- Apr 27, 2010
- Messages
- 43
So the only affect down payment then will have for me is to lower my monthly payments.
If I'm getting 0% I might as well make the down payment just big enough to keep the monthly payments manageable.
I did find out if I pay 3% above the final tractor price they will allow 72 months at 0% which I see no advantage in.
So I'll pay off some current debts that do have an interest charge, apply some of the rest of my mattress money to the down payment to make the payments manageable, bury the rest of the mattress money somewhere new since I gave away the mattress storage fact in this post, get another month older and forget where I buried the remaining money, use the new TLB to dig up the yard and find the money, thereby justifying the remaining cost of the TLB by the recovery of the buried treasure.
I love logic
If I'm getting 0% I might as well make the down payment just big enough to keep the monthly payments manageable.
I did find out if I pay 3% above the final tractor price they will allow 72 months at 0% which I see no advantage in.
So I'll pay off some current debts that do have an interest charge, apply some of the rest of my mattress money to the down payment to make the payments manageable, bury the rest of the mattress money somewhere new since I gave away the mattress storage fact in this post, get another month older and forget where I buried the remaining money, use the new TLB to dig up the yard and find the money, thereby justifying the remaining cost of the TLB by the recovery of the buried treasure.
I love logic
fredhargis
Gold Member
That was my experience as well, just last month on my B2920. I pulled out my checkbook and the dealer asked "Don't you want the 0% financing?".
om21braz
Veteran Member
Same story here 5 years ago. At the time, all that was required upfront was to pay the recording fee (ucc? $100 I think). Also, the purchase price was the same for paying cash, 100% financing, or anywhere in between. It did'nt make sense to me either, but that's how it is. How long it will remain that way - who knows.
