Financing Financing experience's

[Blackcatstrat]

Hello all, new member to the forum but been lurking in the shadows for many years. Great site by the way.
I just sold my NH TC18 and have decided on a new rig.
Spent many hours of research and decided on the Kioti CK2610.
My questions really revolve around the financing though.
Not many options for tractor financing it seems
Most if the big names, Kubota, Mahindra, Kioti all use what used to be AgCredit but is now DLL Financing...?
I tried to find out more about this company and come up with very little positive information.
Nothing related to their tractor financing business though.
As with anything you find on the internet you have to take it with a grain of salt but thought
I would get some first hand experiences from people here on this site.

When you make your payments is it through DLL finance or Kubota, Kioti etc.
Any problems, complaints etc?

I am just trying to avoid any complications and stress from this purchase.
I tried doing a search but didn't come up with much.
Many thanks.

Jerry

 

[cford36]

I bought my LS, financed thru DLL. Pay online easily with no issues on the DLL site. Only complaint was the online application process that the dealer does seems cumbersome.
But no other complaints.

 

[mddorange]

:welcome:
To the TBN forum Jerry. We are glad that you joined with us here.

As for the financing with Kubota, everything states: "Kubota Credit Corporation, USA, in Ft. Worth, TX" but there Loan Admin Dept. is located in Torrance, CA.

I use there online website to manage my account.

 

[TheMan419]

Also go to your local credit union or farm bureau. They will finance the purchase as well. Compare interest rates and terms. You may be able to get a cash discount from the seller because they are not the ones financing the purchase. Even if the dealer is offering zero percent, ask what the cash discount is. Then compare your total payments between cash + finance yourself vs zero percent with the dealer.

 

[dadster4]

No issues at all with Agricredit/DLL, I set up automatic payments through my bank, and have never had a problem.

 

[moriboy]

I've used Kubota credit several times. Not a single issue.

 

[Blackcatstrat]

Thanks for the reply's gents, I'm glad to hear there haven't been any problems so far.
I did talk with my credit union and some of the other local banks but they don't offer anything for tractor loans other than personal loans. 11-15% interest so far.
I also talked with farm credit (Farm credit east) but since I'm not a "farmer" they can't offer any loans.
Kicked around the idea of an equity loan but not sure I want to do that either. I'll keep checking but looks like I might be forced to go with DLL finance.
Part of my reluctance to go that route is my serious disliking for big banks.
Thinking outside the box here I have been looking at government grants since half my land at my Vermont property is state protected conservation area and the tractor would be needed to help maintain that. Not expecting much on that but you never know.

My tractor needs are a little more complex, I have an acre piece of property in CT where I live, I use the tractor for maintaining my driveway, garden, firewood and whatever else I need so I can't get too big of a machine but my land is Vermont is a whole other matter. More machine is better up there. In addition to maintaining things I am building a camp on some seriously neglected and challenging land.
Not looking forward to having to trailer a tractor back and forth all the time especially through Springfield Ma but hopefully with some planning I can make it worth the time and effort.
The Kioti Ck2610 seems like a good compromise for my needs.
Drank a bit too much coffee this morning......

Jerry

 

[TheMan419]

The home equity loan is a bit of a double edge sword. You can deduct the interest on your taxes (if you itemize) so there is some savings there. On the other hand you are putting the house at risk if your finances head south and you cannot make the payment.

Ultimately it is simply a decision to get the best interest rate. I am surprised the credit union only has a personal loan at such a high rate.

Ultimately I financed my New Holland through their in house financing. Their rate was just as good as my CU and it was just easier.

 

[Dftodd]

No issues through kubota credit. Was easy breezy, and took 20 minutes to get an approval. Wife and I had checked several other manufacturer's financing options/ interest rates. Kubota was by far the easiest for us.

 

[jeff9366]

My tractor needs are a little more complex, I have an acre piece of property in CT where I live, I use the tractor for maintaining my driveway, garden, firewood and whatever else I need so I can't get too big of a machine but my land is Vermont is a whole other matter. More machine is better up there. In addition to maintaining things I am building a camp on some seriously neglected and challenging land.

You have probably read how prone to theft tractors are. So you will need secure storage in CT and VT.
I store my tractor in my humidity controlled garage. My Kubota utility vehicle is also in the garage.
Our two cars park in the driveway.

Consider these measurements on you tractors: height/ROPS UP, height/ROPS DOWN, height to top of Backhoe when mounted. I use my tractor three or four days per week. It is a pain to lower and raise the ROPS. I bashed the garage trim twice when the tractor was new. I have not forgotten to lower the ROPS in the last two years.