Filing fees?

spencer200 · Jun 3, 2003

yes in your case New Holland would have taken 72.50 of the fees that your dealer charged. Your dealer would have kept the balance.

Inspector507 · Jun 3, 2003

Well at least I know how much additional "hidden" profit my dealer got. $150 /forums/images/graemlins/mad.gif

Anonymous Poster · Jun 3, 2003

My financing was through NH credit. My dealer told me that NH required the physical damage insurance; he specifically stated that my homeowner's policy would not be adequate.

Greg, if you're reading this (I recommended you start reading this forum), I'm finally pi$$ed. I paid your price for the tractor; I paid your stupid administrative fee, but I didn't have to pay your stupid insurance fee. You owe me, and you should come up with some creative ways to handle it, or I'll start recommending some other brand (since there is no reasonable alternative to you as a NH dealer). I had four people stop by my property just last weekend to ask about my tractor...call me.

Inspector507 · Jun 3, 2003

I told them who my homeowners was through........satisfied the dealer

spencer200 · Jun 3, 2003

Sorry to hear your dealer was not up front with you on the insurance. Finance and Insurance can be big profit centers for dealers. This is why car dealers have someone who specializes in just this area. This method of business is slowly creeping into other large purchase areas like tractors, boats motorcycles, etc. etc. I know when I purchased a new truck the dealer I normally deal with charges 320.00 in admin. fees for something that takes less than 20 minutes to do! I guess when we try to squeeze every last cent out of a deal no matter what you are buying, this became the only method for the dealer to hold onto some profit that most customers do not question.

Phred · Jun 3, 2003

yes the insurance is reqiured for NH credit I found the same thing. But I got it through a private insurer for about 1/2 the cost listed above. And thats for a more expensive tractor. Not trying to rub it in just trying to save others some money.

As far as the fee for zero down that sounds fishy. I had three options when I bought my machine zero for one year ~1% for two, ~2% for three, etc... I can't rember the exact rates but they were low. I went with the one year. No fees at all.
Since it was Ag except no tax.
The invoice was for the price we agreed on for the tractor.

The issue of a credit check: thats the cost of doing business and should not be passed on. After all it does not cost them much and the whole idea of zero% is to promote tractor sales. Sounds like a used car dealer trick. The price is X......
"but of course we need to add the charges for ....."
Real estate loans are the worst for this.

Fred