Kubota Credit Corp?

[JeffRey30747]

It's nice to know that my paperwork is probably on its way but just a little slower than most other companies. It sounds like they are more interested in being in the tractor business than in the banking business. I am certainly not looking forward to the payments but I didn't want some oversight to screw up my account with them or my credit rating. Thanks for the input guys!

 

[Mark_in_NH]

<font color=blue> Is the best way to pay off early by paying extra each month on the coupon?</font color=blue>

I would have to say a definate YES to this question.
As long as I have done my math correctly.
The loan on my used JD is as follows. My monthly payment for the 4 years is $268.76 for a total of $12,900. I have been rounding up my payment to an even $300 a month for my first year of the loan. So to date, I have paid $3,600. My latest account statement from JD tells me that my loan balance is $7,900.
So lets do some math. $12,900 - $3,600 in payments should leave me with a balance of $9,300.
If JD tells me my loan balance is $7,900.
We now have $9,300 - $7,900 = $1,400 saved or deducted off the principal of the loan by adding an extra $31.14 to my monthly payment.
According to JD credt, my account is now Prepaid by $327.60. Now comes the GREAT part for me. As long as I keep sending in those $300 payments, I am chewing the principal of my loan down dramaticly every month.

 

[mrolson]

Mark, does the statement actually state "Prepaid" ? Some creditors will automatically apply the excess to the principal (thus reducing the finance charges), others will just show the account as prepaid.

 

[JeffRey30747]

I got my temporary coupon and payment book both in the mail today (5/3) for my first payment that was due 5/1. I wrote out a check so that I can get it in the mail in the morning.