How was your experience with Kubota finance?

JJZ 109 · Jun 7, 2020

dneal said:
Thanks. Your scenario (with Kubota Finance) seems similar to mine. I told them I didn't want it, but they did the "no payment for 90 days" thing automatically; so there's time to get it set up. I assume your case is the same?

It just seems weird that in the 21st century the system didn't populate in 24-72 hours, and that they can't fix it on the spot. "just wait another week or so" seems that they're hoping somebody else does their job...

I asked and received the answer from the dealer. He says Kubota does nothing until the paperwork is signed. So even though I've been approved since May 12 and I assume the paperwork is sitting in a file somewhere, I guess nothing happens until the driver shows up at my place with a tractor and the paperwork. I'd think it would be easier and faster to have mailed me the paperwork, have me sign and then return it along with a check for the down payment and the transport cost that I'm not financing. But what do I know?
Just my luck that the delivery truck has an "unscheduled maintenance" issue at my time of purchase.

rScotty · Jun 7, 2020

JJZ 109 said:
I asked and received the answer from the dealer. He says Kubota does nothing until the paperwork is signed. So even though I've been approved since May 12 and I assume the paperwork is sitting in a file somewhere, I guess nothing happens until the driver shows up at my place with a tractor and the paperwork. I'd think it would be easier and faster to have mailed me the paperwork, have me sign and then return it along with a check for the down payment and the transport cost that I'm not financing. But what do I know?
Just my luck that the delivery truck has an "unscheduled maintenance" issue at my time of purchase.

Both the dealer and I each have our own paperwork that needs to be signed by the other. We could do that at his place or mine - but usually it is somewhere there is a notary. Until the moment of signing, nothing legal or businesswise has actually happened. Before signing, it's all speculation, and either side can walk away. Up until then, the only thing that has happened is we have checked each other out. I've checked out how he stands with the things I care about - like his state licensing and reputation with local businesses. I assume he has done the same with me on the financial side.

But nothing happens until we sign each others sales contracts. Then it happens real quickly.

JJZ 109 · Jun 7, 2020

rScotty said:
Both the dealer and I each have our own paperwork that needs to be signed by the other. We could do that at his place or mine - but usually it is somewhere there is a notary. Until the moment of signing, nothing legal or businesswise has actually happened. Before signing, it's all speculation, and either side can walk away. Up until then, the only thing that has happened is we have checked each other out. I've checked out how he stands with the things I care about - like his state licensing and reputation with local businesses. I assume he has done the same with me on the financial side.

But nothing happens until we sign each others sales contracts. Then it happens real quickly.

I didn't expect lightning speed as far as tractor delivery. Purchased from a few states away so I figured patience is my friend. But in the past I've done online auto loans and it went very quickly. Paperwork overnighted to me, signed/notarized if needed and returned. Deal complete.
I figured that in the internet age where most things move at lightning speed this deal would be concluded quickly as far as the paperwork end once there was credit approval. Apparently not the case in all transactions. But it's really not a problem. I have the equipment on hand to do the things that I need to do at present. The tractor will get here when it gets here.
On the plus side the dealer trucks their own units as far as I know. Not like the tractor is sitting in a broker's yard waiting for someone to build a load of several units heading in the same general direction. Been down that road once. Never again.

dneal · Jun 9, 2020

I have already signed the paperwork at the dealership. Curiously, Kubota uses “electronic signing”. I guess part of their system is in the 21st Century.

KTAC · Jun 15, 2020

Good day everyone! I will clear up some of the misunderstanding (hopefully). Kubota Credit Corporation, USA (KCC) doesn't take possession of your "account" until the dealer submits the contract for funding. The dealer is the actual "seller" of the equipment and KCC is purchasing the contract from the dealer. The dealer isn't supposed to submit for funding until you've taken possession of all the equipment listed on the contract. So, if you call in (to KCC) prior to the dealer submitting for funding (and subsequently KCC paying the dealer for it), KCC will not have an account setup for you. If your first payment comes due and you elect to mail it to KCC, we will hold it until the contract funds so you don't have to worry about it. If the contract isn't submitted by the dealer in a reasonable amount of time (or delayed at your request), KCC will send the payment back to you. KCC and KTAC want to be reasons you continue to buy Kubota! Sincerely, Brian Carter (Director of Operations, KCC/KTAC)

JJZ 109 · Jun 15, 2020

KTAC said:
Good day everyone! I will clear up some of the misunderstanding (hopefully). Kubota Credit Corporation, USA (KCC) doesn't take possession of your "account" until the dealer submits the contract for funding. The dealer is the actual "seller" of the equipment and KCC is purchasing the contract from the dealer. The dealer isn't supposed to submit for funding until you've taken possession of all the equipment listed on the contract. So, if you call in (to KCC) prior to the dealer submitting for funding (and subsequently KCC paying the dealer for it), KCC will not have an account setup for you. If your first payment comes due and you elect to mail it to KCC, we will hold it until the contract funds so you don't have to worry about it. If the contract isn't submitted by the dealer in a reasonable amount of time (or delayed at your request), KCC will send the payment back to you. KCC and KTAC want to be reasons you continue to buy Kubota! Sincerely, Brian Carter (Director of Operations, KCC/KTAC)

Thank you very much for bringing some "unknowns" out for public understanding. My tractor was just delivered and I signed all paperwork today. So now I'll just sit back and relax until the information from KCC and KTAC arrive.
In the meantime I'll familiarize myself with the tractor.

dneal · Jun 15, 2020

KTAC said:
Good day everyone! I will clear up some of the misunderstanding (hopefully). Kubota Credit Corporation, USA (KCC) doesn't take possession of your "account" until the dealer submits the contract for funding. The dealer is the actual "seller" of the equipment and KCC is purchasing the contract from the dealer. The dealer isn't supposed to submit for funding until you've taken possession of all the equipment listed on the contract. So, if you call in (to KCC) prior to the dealer submitting for funding (and subsequently KCC paying the dealer for it), KCC will not have an account setup for you. If your first payment comes due and you elect to mail it to KCC, we will hold it until the contract funds so you don't have to worry about it. If the contract isn't submitted by the dealer in a reasonable amount of time (or delayed at your request), KCC will send the payment back to you. KCC and KTAC want to be reasons you continue to buy Kubota! Sincerely, Brian Carter (Director of Operations, KCC/KTAC)

I always appreciate when corporate takes the time to see what is going on "out in the wild" - with forums being one method. Thanks for the response. It was unexpected.

A point of clarification (and maybe you can pass this along to Mr. Woods) The delay in delivery is due to a problem with the supply chain, not my request or the dealer's action or inaction. The BH70 backhoe was shipped to the dealer without the required subframe (part# BH1627).

My concern was with losing incentives as the end of May approached. The dealer confirmed they would honor the price, but could not guarantee financing incentives (although they did not expect them to change). Closing on the paperwork was my suggestion. I don't know if the dealer has submitted for funding, but KCC has my account number in the system (verbal confirmation over the phone).

ETA for the subframe is 27 June. What was expected to take a week is now looking to be 60 days.

To end on a positive note, although I am unimpressed with the supply chain management; I am quite happy with the the ease of dealing with KCC and highly impressed with the KTAC policy. Not counting my dealer (who is outstanding), the policy is a primary reason I went with Kubota - otherwise it was a coin toss with buying from the green paint guys.

KTAC · Jun 15, 2020

dneal said:
I always appreciate when corporate takes the time to see what is going on "out in the wild" - with forums being one method. Thanks for the response. It was unexpected.

A point of clarification (and maybe you can pass this along to Mr. Woods) The delay in delivery is due to a problem with the supply chain, not my request or the dealer's action or inaction. The BH70 backhoe was shipped to the dealer without the required subframe (part# BH1627).

My concern was with losing incentives as the end of May approached. The dealer confirmed they would honor the price, but could not guarantee financing incentives (although they did not expect them to change). Closing on the paperwork was my suggestion. I don't know if the dealer has submitted for funding, but KCC has my account number in the system (verbal confirmation over the phone).

ETA for the subframe is 27 June. What was expected to take a week is now looking to be 60 days.

To end on a positive note, although I am unimpressed with the supply chain management; I am quite happy with the the ease of dealing with KCC and highly impressed with the KTAC policy. Not counting my dealer (who is outstanding), the policy is a primary reason I went with Kubota - otherwise it was a coin toss with buying from the green paint guys.

Great to know! FYI - KCC will honor the finance terms that were in place during the initial purchase in cases such as your's (inventory issue or supply chain issue). Enjoy your new Kubota!!!

5030 · Jun 15, 2020

I have to say that we financed our side by side through you and waited 5 months for a payment book (made the payments with a copy of the agreement anyway and on time and then you said the last payment was late but we had a cancelled check.

You need to get your act together. It sucks.