Kubota Credit

[Anonymous Poster]

How easy or hard is it to obtain approval through Kubota Credit? I am looking to purchase soon and I don't know whether to consider Kubota Credit or my local bank. I have heard some stories about manufacturer credit offerings being very difficult to obtain and others that are very easy. Looking for some input so I don't waste any time.

 

[Thomas]

Woody,
Have you check out www.Kubota.com on website?

I believe Kubota credit corporation USA still has finance options information.

I would almost say the bigger the down payment or equal the trade in the better chance of approval ???

Good luck and may you purchase soon.

Thomas..NH

 

[ejb]

I know nothing about Kubota credit, but, if they are like any other manuafacturer, I would say if anything, it would be easier to get credit from them than thru a bank...think about it, they have a bigger incentive to lend you the money, not only do they get the interest, they also get to sell you a tractor. If you need a loan, and can't get one, they loose double. When I was just starting out, and had no credit rating, I tried to buy a motorcycle with a bank loan...none of them would even consider lending me the money, but all the dealers were happy to arrange credit for me just for the signing.

 

[Rick Jay]

Hi,

I'm in the process of finalizing my deal. The total on my B2910, with all accessories (not all Kubota, by the way, some of the implements are Woods), was about $25,000 and I'm financing $20,0000 for 5 years at 7.49%. I could've put more down, but I think the 7.49% is "cheap" money. I had no problem being approved, but then again I have a pretty good credit record.

I agree that I'm sure it will be easier, and probably cheaper, to finance through Kubota than a local bank.

My understanding is that Kubota Credit likes to see at least 20% down and about 3/4 of the total deal to be on Kubota brand equipment. Of course, many times the limitations on financial offers such as loans are regulated by the individual states, so there might be some differences depending upon where you're located.

Good Luck.

~Rick

 

[Anonymous Poster]

Try the Kubota homepage. I down loaded the credit application last thursday and faxed it to my local dealer when they opened friday morning. He had me an answer by 3:00 PM that day. He is bring out a BX2200 to my house thursday for a test drive. How easy can it be......Dave

 

[Bird]

I've financed two tractors with Kubota, and the dealer had everything taken care of the same day. I agree with the other guys; it'll probably be quicker, simpler, and at lower interest than going to a bank. Of course, I'm an old timer with a spotless credit record.

Bird

 

[JimBinMI]

Woody,

I went through New Holland credit almost a year ago, they had one year same as cash! The salesman asked how much I was going to put down and I told him nothing...isn't the offer one year same as cash? He said well yea, but most people usually put something down like about 10%. I said no, just run it through, I have pretty good credit. It was the end of the day and so he called me the next day and said no problem, whatever you want.

So, I got my TC18, a Woods rear mower and a Woods rear blade and the only money I've paid the dealer is for my first 50 hours service parts and a rear light! If you have a good credit rating, use it to your advantage! /w3tcompact/icons/smile.gif

Good Luck, JimBinMI

We boys and our toys!

 

[ejb]

When I bought my JD5410 with loader etc, 7ft JD rotary cutter and an Woods 8inch PTO chipper, Deere was running a similiar deal, (it was either no interest or very low interest..I can't remember) and I had told the dealer I was going to finance it thru deeres offer...when we got to to final negotiations on price, as it turned out, if I paid cash (which I did) the dealer knocked about another $1200 of the "final" price...so even though the credit may be "free", you are paying for it because it is built into the price of the tractor...same holds true with cars, you can almost always negotiate a better deal if you don't take advantage of the free or low interest manufacturer loans...of course not everyone has the cash handy, but if you do, it is worth seeing what kind of deal you can cut if you use it.

 

[JimBinMI]

ejb,

I negotiated a cash price first, then took advantage of the one year same as cash. Of course you pay for it somewhere, "no such thing as a free lunch", however the way this deal looked, it didn't cost the dealer anything because it was a manufacturer's offer.

Same thing happened recently when I went with my mother-in-law to look at and later buy a new lawn tractor. She ended up buying a John Deere and when I got him to where he wouldn't budge anymore, I said she's paying cash, isn't that better than using your 90 days same as cash, he said no, it didn't cost him anything. This of course means that all John Deere products, or at least some are helping to pay for the cost of the credit. He only came down a little more when I said, do you take mastercard? He realized that he would have to give mastercard their cut so he dropped the price some more!

It's very hard to say "always" or "never", too many things change! In fact, the only constant in our lives is "change"! /w3tcompact/icons/smile.gif

JimBinMI

We boys and our toys!

 

[W5FL]

Woody,

Kubota credit seems reasonably easy to get since they have the tractor as collateral. Most will try to get some down payment.

I looked at using the 90 days same as cash when I bought my tractor from Kubota. They will do that deal, but you have to go through the same paperwork as financing the thing and then there are some other fees with the county to register the lein and then to remove the lien. It looked like it was too much trouble to fool with for me.