kubota credit questions

[JJT]

I finaced the L3710 6 years ago and was approved the same day I applied. This summer when I bought the ZD21 it followed me home. I was at the dealer's less than 20 minutes and went with their 0% 2 year financing. My dealer didn't even process the paperwork while I was there, and my deposit was a personal check.

Since it was financed I needed to add the new machine to my homeowners policy and couldn't get the required collision insurance thru my homeowners, (everything but collision was already covered on my basic policy). I had to go back to the dealer and inquire about Kubota insurance. He pulled my paperwork, added the insurance and I wrote a check to cover the 2 years. The forms went back into the "to process" stack and I was on my way.

My dealer has always been FANTASTIC to work with. He owns 3 tractor stores and always remembers my name. and most of the time he's in the shop up to his elbows in a repair or assembly job.

 

[Garrabo]

Kubota made me put down 3500.00 on the BX22 and I have a credit score over 600 with no marks, I thought that was excessive.
deere is much easier to do business with.

 

[Mark_K]

BillJ74 - I am in the market for a Grand L tractor and just want to make sure that I have my story straight. I was quoted $26,665 for a L3130 with about $3500 worth of options.

I live near Flagstaff Az and cant figure out why my price is so high. I would drive to TX if I thought it could save me that much $$$.

Is yours a "Grand L"?

Sorry for such a dumb question.

Mark K

 

[billj74]

Yes Mark it is a Grand L3130. The only option I have is the bigger 723 FEL. I would highly suggest it over the 513. I didnt get the R4 idustrial tires they were $900 more. All said it was $16400 out the door no tax because of farm use. The only thing I may have to go back for is rear end weight. Wheel weights or fluid in the tires, either way its $200. My dealer is located in Benton Illinois. About 20 miles from me. I had a dealer 5 miles away but wouldnt match price.

 

[ctc1111]

So, lets revisit this thread now that the $h*t has hit the fan with the economy and "credit freeze up. Anyone have any recent experiences with KCC? What about commercial corporations, do they require a personal guarantor, or Dun & Bradstreet number/account?

I remember when we went to buy our Deere, we were denied by John Deere Credit because we never set up a Dun & Bradstreet Number, even though we were incorporated in 1960... We ended up just going with our local bank, and it all worked out anyways but it was surprising that they would turn it down over never having a D&B profile.

 

[MessickFarmEqu]

Its simple.. if your credit is clean, then you get financing with no trouble. If its not, then you'll be asked for higher down payments, higher rate, etc. The standards are a bit higher than they where, but nothing crazy.

 

[Mike Costello]

I purchased my L4400HST/LA703 loader, R4 tires, QA setup, a 6' bush hog, a box blade, and the trailer to haul it all home in November 08. I went for the 60 mo. 0% interest offer before it expired in December. Down was 15%. Approval took less than 10 minutes. Kinda scary becoming a tractor owner that fast! I like working off Kubota's money though.
I probably could have taken the unit home as fast as they could hook it up to my truck, but the dealer wanted to make sure everything was prepped and ready to go, so I said I would pick it up the next day. However, all that excitement ruins your sleep!

 

[Ace Power Equipment]

I've been a Kubota dealer for 19 years. Kubota Credit in the past was an extremely small company that did not employ many people. Their credit philosophy has always been the same. Somewhat conservative but will do their due diligence to put a deal together. They have major stumbling blocks for the following specific items, 1.Bankruptcy nearly impossible to get done unless credit has been reestablished for a period of years. 2. Student Loans, most banks have been cracking down if these loans show severe problems. 3. Home mortgage payments, old saying "if he doesn't pay for his house what's the chance we get paid". 4. Medical collections.
Now I've gotten many deals approved with the previous problems with proof of payment. Contractors often have judgements, nature of the business. Proof of payment clears this issue up. Tax Liens same thing proof of payment may clear the issue up. If you think you have these problems run your credit report first. Gather the info and be prepared to put 30% down. There are people behind the computers, be ready to explain issues and have documentation. Brian

 

[ctc1111]

Our corporate history is fine, been in business almost 50 years to top it off, my questions were if they require a Dun & Bradstreet account, which we don't have and if they require a personal guarantor which we don't give on purchases made by our corporation.

They had better promotional rates last month, I have a feeling with this economy we will see them come around again, any insight to this dealers??

 

[Ace Power Equipment]

CTC,

The rate KCC published in the last quater of 2008 were their longest terms ever at 0%. KCC is usually 36 months at zero, with some items going to 42 months. Most "NEW PRODUCTS" will not get as long at 0%. I don't think we will see 60 months at 0% with 15% down on B and L series again. Take a look at the BIG 3 today. 0% in the car industry started back in the late 80's
87-88. I don't remember exactly. This trained buyers to buy only at specific points during these programs. KTC and KCC are Japanese companies, like Toyota and Honda which generally don't beat the band wagon about low interest rates.(Lately Toyota has) They predfer to deal on reputations earned for superior quality and state of the art engineering that deliver extra Value to the end user.
Now you may see 0% again, if the term lengthens jump it may not be there for long.

Brian