Selling tractor : do I have to tell Kubota Credit ?

[murphy1244]

This guy evidently thinks it OK to do as he **** well pleases....maybe he could give you some pointers http://www.tractorbynet.com/forums/kubota-buying-pricing/314859-two-2-less-payments-kubota.html

That is Funny!:thumbsup:

 

[Scooby074]

This guy evidently thinks it OK to do as he **** well pleases....maybe he could give you some pointers http://www.tractorbynet.com/forums/kubota-buying-pricing/314859-two-2-less-payments-kubota.html

I was going to post that too.

Very unscrupulous to sell a tractor with a lien.

 

[ohbehave]

My thought was that this was entirely within the rules and presents NO risks to the buyer.

Is a tractor considered a motor vehicle? Is it some sort of deeded property? Or... is it more like a fridge or a mower that you bought with a credit card?

If I sold a mower, would anyone suggest that I have an ethical obligation to pay off the credit card (at least, the mower's portion of the debt)?

My question is a theoretical one. As I am selling off my stuff, it just occurred to me that the 0% tractor could be sold with me carrying that debt. I have never sold a big ticket item that, to my eyes, comes with no title and no deed.

Just as with a used refrigerator, I simply hand over the item, right? It's not like I'm going to do any paperwork on the sale of a fridge.

It's not the same with a tractor?

 

[ohbehave]

Ha.... well, given the nature of my intent... I would not exactly say that it is unscrupulous!

There is no intent to mislead the buyer or rip them off in any way.

My assumption, at this point, is that a tractor was bought with collateralized loan. These types of loans are very different from a credit card loan and contractually require a payoff upon the sale of the thing.

I'm not trying to be naughty, here.... just asking a question.

 

[MinnesotaEric]

I'm moving to a place with very little land....so, selling the Kubota.

I'm paying it off with 0% interest....and owe on it for two more years.

Is there any reason to pay off the debt? Primarily, I'm asking if I am contractually obligated to pay it off once it sells.

I'm no fan of carrying debt, but at 0%, I'd just as soon hold the money for emergencies while paying it down slowly.

Thanks

1) Asking about Deadbeat behavior like, "Hey fellas, do you think it is okay if I swindle my lender and some poor SOB who buys my tractor but doesn't think enough to get a title or a certificate of origin?" ticks lawful people off.

2) If you don't know why this is wrong, its is because you don't own the tractor until you've paid the note off.

3) And selling things you don't own is fencing.

4) And there are a shedload of laws against selling things you don't own that will apply to you if you're caught.

 

[coobie]

Ha.... well, given the nature of my intent... I would not exactly say that it is unscrupulous!

There is no intent to mislead the buyer or rip them off in any way.

My assumption, at this point, is that a tractor was bought with collateralized loan. These types of loans are very different from a credit card loan and contractually require a payoff upon the sale of the thing.

I'm not trying to be naughty, here.... just asking a question.

You can justify it in your head it anyway you want but it,s still bad business and dishonest.Just saying.

 

[ohbehave]

Alright, I asked the question and offered reasons why someone like me would wonder about this prospect.

I see that merely asking has raised some hackles. I figured it would be easier to ask here than to read fine print on a multipage contract! That's it.

Selling a tractor that has been owned for 2 years is a money losing proposition through and through... this is hardly a "rip off!" attempt or a con job.

It's a question.

I would offer that not-asking-a-question and giving it a go, would been the ethical "issue".

Preach if it's your thing, but I am seeking facts and thank those that have offered them.

 

[oosik]

You know there is something totally wrong & dishonest in that the OP does not understand what is trying to be explained. Or he simply doesn't want to play by the rules. It is 100% guarantee that the total loan on the tractor will have to be paid before ownership changes.

 

[Hiltz]

I'm moving to a place with very little land....so, selling the Kubota.

I'm paying it off with 0% interest....and owe on it for two more years.

Is there any reason to pay off the debt? Primarily, I'm asking if I am contractually obligated to pay it off once it sells.

I'm no fan of carrying debt, but at 0%, I'd just as soon hold the money for emergencies while paying it down slowly.

Thanks

That's about as dishonest as it gets. Doing things like that will get you in a lot of trouble with the law.

 

[Scooby074]

If I sold a mower, would anyone suggest that I have an ethical obligation to pay off the credit card (at least, the mower's portion of the debt)?

Absolutely. You have an obligation to pay all your debts.

Man... I wonder why society is heading to heck in a handbasket.