Financing Anyone taking advantage of Massey's 0% for 84?

[edgarrian]

For sure

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.

 

[Motorboatin]

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.

I love zero interest loans but MF does it differently. The out the door price varies depending on which option you pick

The pricing I was quoted for zero interest was almost $6,700 more than the finance with interest price

 

[ZTMAN]

I love zero interest loans but MF does it differently. The out the door price varies depending on which option you pick

The pricing I was quoted for zero interest was almost $6,700 more than the finance with interest price

Kubota was the only company that we shopped that did offer true zero percent. Mahindra and JD said they had zero percent, BUT they gave you a discount for cash purchases. Mahindra and JD's 0% equated to a 6.9% interest rate.

 

[MaineGuy1]

In general I believe the public is heading in the wrong direction. It isn't smart to have an 7 year loan on anything. Whether its a car, truck, tractor, boat or whatever. But it seems to be what a lot of people are doing. We are debt heavy society so it is what it is.

Kind of not true. Even if I have the cash I would rather put a down payment on it and then get a loan so I don't drain my savings. Another scenario would be to take the loan and invest the cash you would have spent on the tractor, in most cases this makes the smartest financial sense.

 

[edgarrian]

I think we both agree that the general public does not invest enough. So while you are right Americans generally do not do this. The numbers don't lie. Most articles that talk about Americans Savings accounts is generally bad. Retirement accounts are really low. IF your 40 years old and not have 400k in a retirement. Then you are behind and need to save more

Kind of not true. Even if I have the cash I would rather put a down payment on it and then get a loan so I don't drain my savings. Another scenario would be to take the loan and invest the cash you would have spent on the tractor, in most cases this makes the smartest financial sense.

 

[MaineGuy1]

I think we both agree that the general public does not invest enough. So while you are right Americans generally do not do this. The numbers don't lie. Most articles that talk about Americans Savings accounts is generally bad. Retirement accounts are really low. IF your 40 years old and not have 400k in a retirement. Then you are behind and need to save more

Yes, I agree from what I read that many Americans don't have much in savings or retirement. The funny thing about this though is I am from a small town and I see many retired people making do on what they have and they are not suffering so I think some of these analysts tend to write doom and gloom about retirement and it isn't that bad.

Yes I do know many people in so much debt from all kinds of loans and if they lost their job they wouldn't be able to pay the next months bills. Not a fun way to live, very stressful, I have been there and done that. I could pay cash now for my tractor but I don't want to take all that money out of my account. I'd rather pay the 1.99% for half the tractor (down payment of half) and keep the safety net.

 

[edgarrian]

I feel like today's retiree's had pensions. I only know of a few companies that even offer that anymore. Heck a lot of companies don't even match 6% in 401k. My dad has his pension and of course they are both receiving social security. The house has been paid off. You might be right in the fact that this might be over blown. But when talking to most people who don't even have 4k saved up for an oh **** time. You can only imagine what they have saved for retirement.

Take for instance how many elderly work at walmart right now. Granted its not an overwhelming amount but as the decades go by you will see more and more. And some of the retired people in your small town might not be suffering but they are just getting by. Im certain that most people when they retire didn't dream of just getting by. I think it will be interesting to see what its like in the next 20 to 30 years. We are rolling up on the 100 year annvisary of the great depression. That will be an interesting time

Yes, I agree from what I read that many Americans don't have much in savings or retirement. The funny thing about this though is I am from a small town and I see many retired people making do on what they have and they are not suffering so I think some of these analysts tend to write doom and gloom about retirement and it isn't that bad.

Yes I do know many people in so much debt from all kinds of loans and if they lost their job they wouldn't be able to pay the next months bills. Not a fun way to live, very stressful, I have been there and done that. I could pay cash now for my tractor but I don't want to take all that money out of my account. I'd rather pay the 1.99% for half the tractor (down payment of half) and keep the safety net.