Repo

   #1  

Kwfm

New member
Joined
Jun 15, 2021
Messages
2
Tractor
Kubota mc
What is the worst case scenario if Kubota is not able to repo?
Hard times
COVID-19
 
   #4  

MossRoad

Epic Contributor
Joined
Aug 31, 2001
Messages
48,585
Location
South Bend, Indiana (near)
Tractor
Power Trac PT425 2001 Model Year
What is the worst case scenario if Kubota is not able to repo?
Hard times
COVID-19
First, sorry for your predicament.

Pretty simple.
You pay them the money you still owe them for the tractor, or you give them the tractor back if you cannot make the payments.

Kinda like a car repo.
You can hide the tractor, keep it in a locked garage, etc., and there's not much they can do about it but go after you in court. In some states, it's against the law to hide if from them. In some, it is not. However, they will come after you financially. And if they have to pay attorney fees, court costs, etc., you'll be on the hook for those fees as well as what you owe. Or, instead of the money, they may come after the tractor. I think the term is Replevin. Look it up. The Police show up at your house.

Plus, what it will do to your credit rating.

Just give it back if you can't make the payments. Apologize to the dealer/lender and return it in good condition. It's the moral thing to do.

Good luck with your situation.
 
   #5  

rademamj1

Platinum Member
Joined
Oct 8, 2019
Messages
992
Location
Waco, Texas
Tractor
Kioti CK4010 SEHC, Kubota GR2120, Gravely Proturn 460
You should seek qualified legal advice. Typically, following a declaration of loan default, if Kubota is unable to take repossession of "their" tractor because it's been hidden, that would be considered felony theft. Attempting to hide the property is not encouraged, and anyone else involved (such as using another persons ranch or farm) in such a scheme, they would also be considered an accessory to felony theft.

I would try to work out partial payments with Kubota Financing Corporation, at least until your able to get back on solid footing, or simply return the tractor.
 
   #6  

PaPow

Platinum Member
Joined
Jun 4, 2017
Messages
651
Location
NY
Tractor
Kubota BX23S
What is the worst case scenario if Kubota is not able to repo?
Hard times
COVID-19
I`m not quite sure what you`re asking here, but if you`re trying to keep Kubota Corp from taking re-possession of the tractor for not making your payments and/or if you make it hard for them to come take the tractor, you`ll WILL pay a very heavy price for it. Have you at least contacted Kubota to see what you can do? That would have been the first thing i would have done was to call and talk to Kubota FIRST long before i would have come into a forum and asking a question you should already have known the answer to. Maybe you should go back and revisit/re-read the contract you signed when you financed the tractor. It is the written words that counts, and you signed on the line for it. You can fight it all you want, but at what price are you willing to pay for that. Its all up to you.
 
   #7  

Thomas

Epic Contributor
Joined
Apr 6, 2000
Messages
25,205
Location
Lebanon,NH.
Tractor
Kubota B2650HSD w/Frontloader & CC LTX1046 & Craftman T2200 lawn mower.
Be honest with deal see if the both of you can work something out,it will help you in the long run.
 
   #8  

Frankenkubota

Elite Member
Joined
Jun 11, 2020
Messages
2,590
Location
Carthage NC...Deep in the woods
Tractor
Kubota MX 5800, SkidPro 4 in 1, Ratchet rake, SkidPro pallet forks
You should seek qualified legal advice. Typically, following a declaration of loan default, if Kubota is unable to take repossession of "their" tractor because it's been hidden, that would be considered felony theft. Attempting to hide the property is not encouraged, and anyone else involved (such as using another persons ranch or farm) in such a scheme, they would also be considered an accessory to felony theft.

I would try to work out partial payments with Kubota Financing Corporation, at least until your able to get back on solid footing, or simply return the tractor.
yup....my old buddy in portland did his friend a favor by hiding his buddies car in his garage. hmmmmm..make sense?

now my buddy is also a felon
 

JJZ 109

Veteran Member
Joined
Feb 7, 2009
Messages
2,138
Location
Near Lake Ontario
Tractor
Kubota BX2380/LA344 loader/60" MMM, Bobcat S185 skid steer, JD X394 4 wheel steer mower
Great first time post. Proves there is such a thing as a dumb question. Worst case scenario is they come get their tractor and your credit takes a hit.
Other options:
A) Call them and see if a temporary arrangement, such as interest only payments for a time can be worked out. They probably would rather not have the time & expense of a repo.
B) Call them and tell them there's no way you can swing it any longer and give them back their tractor. Why prolong the misery?
 
 
Top