Financing Financing a Kubota

[NathanielJeep1]

Hey I am new here. I am in my junior year of high school and my parents said I can choose anything I want for graduation, so I am considering a L-series because that's what we have at school. So now to my question, where is the best place to finance a tractor? Any help would be appreciated.
Thanks,
Nathaniel

<P ID="edit"><FONT SIZE=-1>Edited by NathanielJeep1 on 09/19/01 11:09 AM (server time).</FONT></P>

 

[Devildog]

Nathaniel, Honestly the best place to finance would be kubota. They have a really good interest rate right now.
______________________________________________
Take care, Jim

2001 B7500 HST 302 Fel R4 Tires
Semper Fidelis

 

[Bird]

Yep, Nathaniel, I haven't found a better place to finance a Kubota than going with Kubota Credit Corp (just let the dealer handle it). You might want to also check with your insurance agent, but I found that letting the dealer and Kubota Credit provide the insurance was the best deal, too. My only complaint is the fact that I have to write them a check every month because they don't have the automatic draft service available.


Bird

 

[fishman]

Nathaniel,

For insurance, you might try Germania, if it has a presence in your area. They cater to rural folks. I was quoted about $75 per year for a $15,000 tractor. You will need insurance on the tractor if you finance it.

 

[Bird]

Yep, that might be better than Kubota's insurance. It cost me about $100 a year.

Bird

 

[P.K. Burke]

Bird:
Noticed your post about tractor insurance. Does this mean that you have seperate insurance just for your tractor? Just curious because I checked with my insurance company and my tractor is covered by my home owners policy. Now I realize the young man probably doesn't own a home yet but the tractor may be covered by his parents home owners policy. Just a thought.
P.K. Burke

 

[Turfman]

I have been checking into that myself. Seems that here in Utah where we are a farm state no one knows how to finance a tractor. I called around, looking of rates, and got told that I'd need to do a signature loan at 14.9 %. Of course I could do a home loan, or re-finance my truck for money (and all this time I thought I was buying a tractor, not a house or truck), but no one would finance a tractor. Now if I were buying a boat or quad-runner, they could handle that.

In talking with the dealer about Kubota credit. He tells me that there are various prices on the tractors. One is the cash price. On a B2710 it was about $15,900. That included, according to them, $2,100 in factory incentives to bring the price down to that. If I financed at a lower rate through Kubota I would loose some of the incentives to pay for the financing. Kind of like when you have the option on a car purchase of very low interest or a factory rebate.

So, I'll hang on to my crappy B9200 until spring and see what I can do on my own financing. Having a tractor payment and not being able to use it to generate income in the winter is not a good position to be in. With the economy in a bit of an uproar right not I'm in a wait and see attitude with a tractor purchase. Baby needs a new pair of shoes.

 

[Bird]

P.K., this topic has been discussed quite a bit in the past and I guess the simple answer is I don't know. Some folks have checked with their homeowner's insurance and were told that it covered the tractor as long as it was on their property (I sometimes take mine elsewhere). There is also apparently the possibility that the homeowner's insurance would cover it if it were stolen, but not if you damage it, turn it over, have an accident while towing it on a trailer, or such as that. Now my salesman told me that the Kubota insurance covered all those things. The only problem is that I never actually received an insurance policy; only the paperwork showing that I paid for the insurance./w3tcompact/icons/frown.gif

Bird

 

[glennmac]

Now that you mention it, Bird, I never received any policy from Kubota either. I don't even think I got a summary description of the coverage in writing. I just went by what the dealer told me and paid for it.

 

[PaulT]

Bird,

Since all of us on this board are relatively computer literate, and you are moreso (witness your ability to post digital pix), I suggest you "check" into online bill paying. We use Quicken, and our bank is listed in their extensive list of instituions that are electronically "tied in". Even though Kubota CC is not set up to "get" its money via EFT, Quicken's bill paying service will still take my electronic instruction over the internet, print a physical check and mail via USPS to KCC (postage included) All of this costs me about $6/month for up to 20 transactions. The postage alone is more than that if all 20 had to be mailed. I guess they gamble on most of them being electronic, which they are. A very economical trade-off, as I no longer lick stamps or write out checks for anything (except loads of topsoil etc)

PaulT