Financing Kubota Financing, The Fine Print

MarkOnTheRiver · May 26, 2005

I'm getting ready to sign on the dotted line (actually several) for a L3400HST, R4, FEL, BH, and 5' Hog. I'm taking advantage of the 0% financing for 3 years by 'bota. In reading the financing terms there are two items that stand out.

5. LOCATION OF SECURED PROPERTY. You agree to retain the Secured Property at your address shown on the first page of this Contract and will promptly notify us of any permanent change in the location of the Secured Property within the State of Buyer's residence, as listed on the first page of this contract. You further agree not to remove the Secured Property from the State of Buyer's residence as listed on the first page of this Contract, without our prior written consent. You further agree not to sell, contract to sell, or lease the Secured Property.

7. ENCUMBRANCE OF SECURED PROPERTY. ... NOT BE DRIVEN UPON ANY STREET OR HIGHWAY. We may enter to examine and inspect the Secured Property at any time and wherever located.

Not so sure this is such a good deal if you were to follow these conditions to the letter. Sounds to me like I wouldn't be able to transit to my neighbor’s farm, as I would be violating item 5 and 7. Item 5 makes it sound like I can’t even take the tractor to the dealer for servicing. But, I wonder how many either ignore or are unaware of these two conditions?

Good thing they don't finance cars. Imagine the salesman saying to the buyer, " Great financing at 0% for 3 years, but you can't take the car out of the garage.".

Mark

Junkman · May 26, 2005

I believe that the operative word in paragraph 5 is "permanent". As for paragraph 7, I agree that the tractor is not for operation on any highway or street. The reason for this, it isn't a registered vehicle and there is no insurance on the unit if it is operated on the street or highway. As for being able to " examine" on your property, that is put in there so they can't be charged with trespass if they need to repossess the tractor. I am not an attorney, but I did stay at the Holiday Inn last night.. /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif

MarkOnTheRiver · May 26, 2005

Here in Georgia, tractors are allowed to be on the streets and highways. In fact, there use to be an old man in town who used his tractor for errands.

In my case I have 8 acres on one side of the river and 3 acres on the other. In order to get to the other side I have to travel about 1/2 mile on the highway and street to use the bridge. So I will just have to take my chances.

JoeinTX · May 27, 2005

They cannot require you to stay at the original place of use. You may need to notify them of chage of address for warranty purposes, but in way are you obligateed to never change address. It's a "legalease" requirment that i"m sure they are forced to follow, but in normalcy it's a red-tape issue.

DannyD · May 27, 2005

Junk, would you really stay at Holiday INN, You seem more like a cool dude that would love Motel 6 and Denny's.

You are more than likely on the button with the wording, and I have broken there rules many times as I trailer the bota to go to the outlaws, my folks, friends, etc.