sevenvalleys
Bronze Member
- Joined
- May 18, 2018
- Messages
- 62
- Tractor
- 2018 Massey Ferguson GC1705
I agree !
Financing Anyone taking advantage of Massey's 0% for 84?
- Thread starter falfrenzy
- Start date
eubie5
Gold Member
- Joined
- Mar 25, 2003
- Messages
- 260
- Tractor
- kubota bx2380
You're right, on a boat or a car, it would be crazy, but after almost 17 years, I'll be able to still sell my little boat for at least half of what I paid for it. After all the use I've gotten out of it, money well spent.
eubie5
Gold Member
- Joined
- Mar 25, 2003
- Messages
- 260
- Tractor
- kubota bx2380
But I also agree, as a whole, our country has WAY too much debt
Diggin It
Super Star Member
It's all about your credit rating. Once I went through all the pricing and promotion variations and made my selection and submitted the application, the financing company told the dealer that when they saw my 800, they never even looked further. I was never even asked for income verification.
This is the only loan I've had in over 10 years. Everything else is paid for. The first month or so after the loan started, my rating dropped to under 700, then came right back to over 800. Payments are auto-debited so I can't forget or be late. I set up a new bank account just for this loan, so if there's an issue with the auto-debit, it won't hit my main account at all.
I'll be paying more than the cash price, but considerably less than the 0% price would have been from either MF or JD.
I took advantage of it. I went back and forth to finance or not as I had been pinching my overtime for some time for a tractor.
The payment was just so low, the tractor just looked built to last and a good warranty. I kept my overtime for future implements and whatever else hits the fan. Its the only thing i've ever financed other than my home but it just seemed worth it to me. I know its more $ but they got me on that one what can I say.
The payment was just so low, the tractor just looked built to last and a good warranty. I kept my overtime for future implements and whatever else hits the fan. Its the only thing i've ever financed other than my home but it just seemed worth it to me. I know its more $ but they got me on that one what can I say.
edgarrian
Platinum Member
TO each their own. If its 0 percent the argument can always be made for taking the loan and against. It also seems like people buying tractors are bit more practical. Take for instance a mustang forum which I'm involved in. Lots of youngsters want the newest best thing out there. Likely over extended as is most of the country. **** I just read that 1 out of 4 americans are still paying off last years christmas. Crazy to think about
Motorboatin
Gold Member
I qualified but the math doesn't work out
Better to pay the juice in the long run if your rate is good
Better to pay the juice in the long run if your rate is good
edgarrian
Platinum Member
As interest rates keep going up as will the cost of these tractors. Some can pay cash and remain debt free which makes them more versatile when it comes to investing. Others can't. I get people have different incomes levels and strategies. For the most part if you keep your finances in check then great. But the norm of over spending and over extending isn't good.
GC1710
Silver Member
You pay the interest upfront as they won’t let it go for as cheap if you show up with cash or a bank check.
I ended up going with a 1.5% loan through MF and the price plus interest was better than the zero off deal.
There are great dividend ETFs that make taking the loan a better deal than paying cash.
ZTMAN
Silver Member
When our camp bought a BX, there was no difference in price between cash and financing for 84 months at 0%. If someone wants to give me free money,so be it.