Financing used tractor, private party

[rback33]

Last time i bought, I use dmy bank to finance the tractor. Found out rates for used equipment weren't to good. However.. i happend to have a CD at that bank, and found i could make a secured loan against the cd (as colatoral ) for something like 1/2 point over what I was making on the cd.. IE.. it was virtually a wash interest wise. I went that route.. worked out good... since I had the colatoral, there was virtually no loan paperwork.. it was all said and done and I had a check from the bank 15 minutes after I walked in..

Soundguy

That's a very good way to do that. I have known several people to take the same approach. It's amazing how they look at things differently when you visibly have the money sitting there that you need.
As to the credit card approaches, I would be wary. One slip up and they will hammer you bad. I am lucky to live in a small town where my uncle is the president of one of the local banks and my wife used to work there. If it's critical, I know they will take care of it. It's not like some big banks that might shy away from a small risk. They know my word and money are good.