Who has the easiest financing? I知 rebuilding my credit

[rademamj1]

Absolutely a tremendous plan, and hopefully by the time your ready to purchase that tractor, your FICO scores are reasonably good and your downpayment is healthy enough to recieve financing approval. And don't hesitate to selloff some used equipment and add those proceeds to your downpayment.

 

[Diggin It]

I have about 7k saved in the tractor fund now(not my normal savings account), and hopefully by december 2021 I'll have about 20k to put down and I think that would work a lot better in my favor....

With that plan in mind, I would suggest looking into a CD. They can have terms of 6 months or so and will pay a bit more than a savings account. Plus, you can't get to the money easily on impulse. Also, shop around the web for other banks. Some offer better interest rates over a certain balance.

 

[JethroB]

With that plan in mind, I would suggest looking into a CD. They can have terms of 6 months or so and will pay a bit more than a savings account. Plus, you can't get to the money easily on impulse. Also, shop around the web for other banks. Some offer better interest rates over a certain balance.

Per Bankrate.com, the national average for a one year CD is currently 0.22%. Thats $2.20 on $1,000.

 

[fried1765]

Per Bankrate.com, the national average for a one year CD is currently 0.22%. Thats $2.20 on $1,000.

For $2.20, just stick the $1,000 under the mattress for the year!

 

[tradosaurus]

Several years ago I had a fishing buddy who was a multi millionaire and always paid cash for everything. His wife left him and that didn't hurt him because she didn't have any idea where his money was and she ended up broke and living with her sister. His problem was he didn't have any credit because he never used any. His ex did but that went away with her. For a few years whenever he wanted to buy anything on line I would order it and he would pay me cash. After a while he finally applied for a credit card and had to start with a very low limit.

Credit is strange to a lot of folks and everyone looks at it different. Credit cards are fine if you realize that you owe the money and pay your bill monthly, too many people, especially younger people look at it as free money.

The moral of my story is it's real easy to judge someone without knowing all the facts.

I thought the moral of the story is make sure you hide your money well if you are well off and married. :laughing:

 

[fried1765]

I thought the moral of the story is make sure you hide your money well if you are well off and married. :laughing:

BINGO !!!!

 

[tradosaurus]

I figured I would add a little more info to this thread and my future plan.

As recommended by digging it, I took out a $500 line of credit. I will be paying it off in 6 months. It was rather high interest rate, but I think if i do that once or twice it should help my score and be worth it.

Also I have decided to fix my small 25hp ts254. It only needed about $400-$500 worth of parts and a few days labor. that will allow me to rake hay with it and general duties around here to keep some hours off my 4610. One of the main reasons I wanted to get a new tractor was to not wear out the 4610, because I inherited it many years ago from my grandfather before he passed away.... I was about to buy a mahindra and he told me just to go get his tractor instead. He said he would be happy to know I had it and it was being put to good use and taken care of...

And I still plan to buy the massey next year. I have about 7k saved in the tractor fund now(not my normal savings account), and hopefully by december 2021 I'll have about 20k to put down and I think that would work a lot better in my favor....

Have you thought about selling your 4610 and using that toward a down payment on a new tractor? Of maybe trade-in?

Where in East Texas are you located? Near Texarkana?

Good luck in your future purchase.

 

[gonefishin1]

Have you thought about selling your 4610 and using that toward a down payment on a new tractor? Of maybe trade-in?

Where in East Texas are you located? Near Texarkana?

Good luck in your future purchase.

I'm outside of Carthage tx.

But no I'll never sell it. It has sentimental value.... It was the tractor I learned to drive on. I was driving it by myself at 4 years old....

 

[rScotty]

I'm outside of Carthage tx.

But no I'll never sell it. It has sentimental value.... It was the tractor I learned to drive on. I was driving it by myself at 4 years old....

Good on you. The Ford 4600 series is a classic from the golden age of USA tractors. They made a bunch of them so it's going to be hard to beat.
Good metal construction, parts are available and the tractor's systems are simple to work on.

In fact you want to make sure you are getting something better. Someday that Ford will get a rebuild & work againfor another generation. We are still wondering if our modern tractors are made that well....

It would be nice to find a 776 Ford factory loader for it.
rScotty

 

[gonefishin1]

i do love this tractor. My dad says it is built heavier duty than any of my grandpas tractors were. It has done everything I have asked of it and then some. I wish it had a loader, and I found one, but I have a huge front bumper built out of rail road track and pipe. It would be in the way of a loader... plus being 2wd there leaves a lot to be desired when it comes to loader work..

I have even thought about looking for a ford with a cab, ac, and some form of a power shuttle if it was offered back then. I have seen the electro/shift transmissions, but not sure exactly how they operate. But I do know some of them had a 4 speed powershift which would be kinda nice to have. I love my ford and I would like to have another. So something used would make a lot of sense if it is in good shape and have the options I want.... Especially if I could pay cash for it or come really close to it... something from the 80's-90's electronics kinda scares me though.