Financing Whoo-ee..Finally I own it!

[Gregster613]

Wowzer, I haven't yet gotten the paid in full paperwork, but I've finally made my last payment and I now "OWN" my Lil beastie!! Probably not a biggie to a lot of you guys, but it's a grand occasion for me! I am eager to see what comes in the mail. Not a title, but just a paid off statement/piece of paper? At any rate, I was/am happy and I wanted to share. have a Great day my TYM friends!! Greg

 

[brin]

I don't have a TYM but congrats....I know how happy you are...time to celebrate...now you really have to take care of it....:cool2:

 

[Alien]

Bet you went out and washed it...:laughing:

 

[DT86]

No TYM for me either but I often dream of having my tractor (just made the first yearly payment) and RTV (only one more yearly payment) paid off.

Congratulations! Hope you get many more years of enjoyment from it!

 

[creekbend]

Congratulations. :thumbsup:

 

[joeyd]

Congrats!!!! Only 3 more years for me!

 

[Bob77064]

Congratulations

 

[Gary Fowler]

I know the feeling, just paid the final 24th payment on my LS in October. No paperwork from the finance company yet though.

 

[kiotiken]

Very nice feeling, congratulations.

No TYM for me either but I often dream of having my tractor (just made the first yearly payment) and RTV (only one more yearly payment) paid off.

Congratulations! Hope you get many more years of enjoyment from it!

Yearly payments??? I've never heard of such a thing. I currently pay my mortgage twice a month, and I'd pay it every day if they let me. It's not much, but it saves me a few bucks in interest.

 

[Gator6x4]

Very nice feeling, congratulations.



Yearly payments??? I've never heard of such a thing. I currently pay my mortgage twice a month, and I'd pay it every day if they let me. It's not much, but it saves me a few bucks in interest.

Used to be the prefered way to pay with the agriculture industry. Keep cash on hand in the event a large equipment repair or replacement was needed just before or during harvest time. Yearly payment was usually made during harvest time when cash flow intake was at it peak.

 

[DT86]

Yearly payments??? I've never heard of such a thing.

On both machines I paid 20% down with four yearly (20%) payments at 0% interest. It helps because we sell cattle in the fall, that's when I have the most money and that's when the payments are due. I had to buy them in a business name to get this from Kubota.

 

[kiotiken]

Used to be the prefered way to pay with the agriculture industry. Keep cash on hand in the event a large equipment repair or replacement was needed just before or during harvest time. Yearly payment was usually made during harvest time when cash flow intake was at it peak.

On both machines I paid 20% down with four yearly (20%) payments at 0% interest. It helps because we sell cattle in the fall, that's when I have the most money and that's when the payments are due. I had to buy them in a business name to get this from Kubota.

Thanks guys, this makes sense to me now. It's very interesting and probably unique to agricultural equipment. I do see a lot of risk for both parties if there were a crop failure or other issue that wiped out a years income.

 

[DT86]

My two machines cost me about $30/day right now just in payments. There is no way I could make normal monthly payments. But come fall its not hard to have the money ready.

 

[Ed of all trades]

Cool, but I think I hear your dealer calling to sell you a new tractor.:laughing: