Roadkill95
Silver Member
I was at a JD dealer the other day and he said they brought back 0% for 36, but don't see it on the JD site.
Anyone know if this is right?
Anyone know if this is right?
0% for 36months back?
- Thread starter Roadkill95
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Roadkill95
Silver Member
bxowner said:
I thought he said until the end of feb
greggh
Gold Member
I think that it is there for Ag use. Maybe not for home use. It was there for me, but mine is for AG use.
Rara Avis
Veteran Member
jerrynycom
Silver Member
So its only 24 months NOT 36? Confused right now......All seems to read 24 months.....Anybody actually speak to JD? 
Hillstone
New member
I got 36 months for my 2520 that I took delivery on this Monday
Millalien
Bronze Member
The 36 month, 0% deal is an interest rate buy-down. It's definitely a good thing to do if you don't want to part with all the dough at once and it won't cost you anything if your smart with your money, but a cash only price will probably be lower. If you're not smart with your money - pay cash!
Ex.
I got a "deal" for a net-price of $15,200 for a 2320 from Dealer A with 0% financing for 36 months.
Dealer B gave me a better deal - $14,200 for the same tractor (and it probably was the same tractor!!) CASH only. If I did the 0% deal it would have been $15,200.
I did the math on this (I used to be an accountant) and guess what? The present value of the money I'd earn by keeping the $15,200 in the bank at 5.3% and paying the loan back from that same account totaled $1,000, so my true net tractor price is the same whether I pony-up $14,200 now or dribble $15,200 out over time. The better my interest rate, the better I do and 5.3% is pretty conservative - I can get CDs that pay better than that over the life of the loan.
Of course, the opposite is also true - if I earn 0% by spending the money on beer and taking the monthly tractor payment from my monthly paycheck, it's not such a good deal - I paid a grand more than I would have if I'd just ponied up the dough and took the monthly beer payment from my monthly paycheck.
Anyway, to Deere's credit (pun intended), since the net price of the tractor is the same (or favorable to the buyer) in either case, they really are friendly financiers.
Ex.
I got a "deal" for a net-price of $15,200 for a 2320 from Dealer A with 0% financing for 36 months.
Dealer B gave me a better deal - $14,200 for the same tractor (and it probably was the same tractor!!) CASH only. If I did the 0% deal it would have been $15,200.
I did the math on this (I used to be an accountant) and guess what? The present value of the money I'd earn by keeping the $15,200 in the bank at 5.3% and paying the loan back from that same account totaled $1,000, so my true net tractor price is the same whether I pony-up $14,200 now or dribble $15,200 out over time. The better my interest rate, the better I do and 5.3% is pretty conservative - I can get CDs that pay better than that over the life of the loan.
Of course, the opposite is also true - if I earn 0% by spending the money on beer and taking the monthly tractor payment from my monthly paycheck, it's not such a good deal - I paid a grand more than I would have if I'd just ponied up the dough and took the monthly beer payment from my monthly paycheck.
Anyway, to Deere's credit (pun intended), since the net price of the tractor is the same (or favorable to the buyer) in either case, they really are friendly financiers.
jerrynycom
Silver Member
Just got a call from my dealer that ZERO for 36 months is back! I am finally going to order my 4720.....Thanks to everyone on this forum for the help!
Will post pics upon delivery!
Will post pics upon delivery!