Unbelievable deal

[bdhsfz6]

Not sure if this is the case everywhere, but when I financed my last Kubota tractor, my dealer required Kubota insurance. Placing it under my homeowner policy or another insurance company was not permitted.

 

[EddieWalker]

Not sure if this is the case everywhere, but when I financed my last Kubota tractor, my dealer required Kubota insurance. Placing it under my homeowner policy or another insurance company was not permitted.

That was why I didn't buy a Kubota RTV when I was looking. When financing, it drove the cost way up.

 

[old and tired]

There is no "free" money... $7,000 cash rebate means that the "zero percent" finance = $7k finance

Even if there were not the $7k rebate; the loan price WILL include "finance" charges.

 

[bdhsfz6]

That was why I didn't buy a Kubota RTV when I was looking. When financing, it drove the cost way up.

I took out the 0% loan to solve a short term cash flow issue. I paid it off in less than a year due to the high Kubota insurance premium.

 

[2515R Dude]

There is no "free" money... $7,000 cash rebate means that the "zero percent" finance = $7k finance

Even if there were not the $7k rebate; the loan price WILL include "finance" charges.

Add to this insurance which would increase ar least 10% each year, but most likely 20% as it was in the recent years. Pretty expensive deal I'd say.
French people say, "free muffins are only in the basket under the guillotine ".

 

[part-time-Farmer-NC]

That's a lot of monthly birthday payments...

 

[ericm979]

Not in this case but sometimes companies offer low or zero interest loans but no cash discount. Kubota was doing that when I was tractor shopping about six years ago. VW had a similar deal when my wife bought one a while ago. Super cheap loan but no cash discount. Rather than paying cash like she'd intended she took the loan.

Either way, it is a discount off the usual price.

 

[Mtsoxfan]

What does the insurance cover? Repairs, replacement if stolen to maintain value??? or is it like home PMI?

 

[dodge man]

I got 5 years 0% with JD and they let me insure it through State Farm. JD’s cost for the insurance was pretty close in cost though. It’s been paid off for a while but I’ve left insurance on it, it’s worth nearly what I paid for it, close to $20k, I hate to not insure it.

 

[Squirrel's242]

I asked my dealer if there was difference in cash price vs financed, there was. There's always a catch right? I can't remember the number to the penny but I ran the numbers for the life of the loan. The difference was too small to be a detriment to taking the 0% deal. It gives me flexibility to still have my cash in the bank in case something in the other parts of life needs money. If I can have the tool and the cash flexibility, to me, that's a good position to be in.

At the end of the day, run YOUR numbers. A deal to someone else may not be a deal to you. I think

Someone up there mentioned carrying a 10yr loan. Yes, it does sound like a long time. I thought so last time I put the drop in the bucket (tractor and house) lol I've already started thinking about paying it (the tractor) to get it gone. However I'm telling myself to just be patient.