Financing Current financing offers

[Cliff_Johns]

For those thinking about a JD CUT, the current offers on JD CUTS including 0% for 24 Months and various other deals, are shown on this page.

JD CUT Offers

If you look around, you will find similar pages for UTs and lawn type equipment etc.


Just an FYI.

Cliff

 

[JerryG]

There are some good deals out there on compacts from some other companies also.
0.0% fixed rate* for 12 months
0.0% fixed rate* for 24 months
0.5% fixed rate* for 36 months
4.9% fixed rate* for 48 months
4.9% fixed rate* for 60 months
5.4% fixed rate* for 72 months

 

[jcmseven]

Does anyone know of any further programs on John Deere tractors? Other than one car and my home, I had never financed anything in my life until I bought my current tractor. I took "advantage" of the 24 month no interest package, which sounded good at first, then the payment book came in. Holy Cow!!! The tractor costs more per month than the one car I financed, and it was a nice car!! With my father recently selling a lot of his land which I helped him on, it makes me wonder if I made the right decision. I love my tractor, but I wonder even with the "deals" offered by JD whether I would be better off doing something else, or even if that can be done. I am curious to see the panel's thoughts on whether this 24 month plan is really as good as just a standard payment set up with the option to pay off early, such as was mentioned also in this post.

John M

 

[cowboydoc]

Once you are locked into a contract with Deere you really can't change it. How does it get any better than 0%? I don't mean to sound harsh but didn't you check what your payment and everything would be before you signed the contract? By law they are supposed to go over the contract with you and show you your payments, interest rate, etc.

 

[jcmseven]

Not harsh at all. And yes, I did review it closely. I am just bellyaching!!!! Mainly because my dad, always the entrepreneur, went and sold his property, which was the main reason for me owning such a machine--without asking me!! This leaves me paying for a lovely machine I use about an hour per week. I love it and it is worth a lot to me to have it just for the enjoyment alone. I am not sure that hour per week is worth what I pay for it, though. Part of my question was "tongue in cheek" and part was serious. It may be that the 24 month, zero percent is the best deal going, and then again, maybe not. But, all said, I am very happy and enjoying my machine. I mainly note that one may wish to look at other options too, perhaps terms are, or will, change in the future. John Deere has extended and changed deals in the past, and sometimes around beginning of the year.

John M

 

[fastpat]

If your Deere 4520 has a cab, let me know when you're ready to sell.
/forums/images/graemlins/cool.gif

 

[JDgreen227]

About JD financing, I'd like to relate my experience with them, and my apologies if it's off topic.

During the end of December 2002, I financed my JD 4210 and attachments through JD Credit, and I had the 60 month contract paid off in August of 2003. A $20,000 loan paid off over four years early, I had expected that to reflect well upon my credit record.

Last month I requested my free credit reports from the three agencies, and on none of them was my credit history with John Deere Credit. Not one word. A few days ago I emailed JDC requesting that my credit history be reported to all three credit reporting agencies, and about an hour ago I received this reply:

"Dear Sir, thank you for your recent email inquiry. Unfortunately, our computer interface is not set up to report to the credit bureaus. However, we may replace that system in the next few years so that we will then be able to report to the credit bureaus. For questions, please contact our Customer Service Dept. at.....

Thank you for your business with John Deere Credit.

Sincerely,

Service coordinator,
Customer service

/forums/images/graemlins/mad.gif /forums/images/graemlins/confused.gif /forums/images/graemlins/mad.gif /forums/images/graemlins/confused.gif

This is SERVICE? How did they ever check my credit record prior to making me the loan in the first place?

Does anyone else have an identical experience? Sears put a black mark on my credit record over a $30 bill they misapplied my payment for, but JD Credit is unable to report that I paid off a twenty grand loan four years early.

 

[jcmseven]

FastPat:

My 4520 is an open station (can't get the cabbed variety in the garage). Thanks for asking.

John M

 

[755inNY]

<font color="blue"> Unfortunately, our computer interface is not set up to report to the credit bureaus. </font>

I bet JD could report to the credit bureaus if your payments were late! That might be a good follow-up question.

I've read about credit card and finance companies that do not report good payment histories for fear their competitors will mine the data for potential customers.

Jeff

 

[Cliff_Johns]

</font><font color="blue" class="small">( Last month I requested my free credit reports from the three agencies, and on none of them was my credit history with John Deere Credit.)</font>

I can't imagine that my contract with Deere for financing included any requirement on them to reveal my financial details to anyone.

In any case, I would point out that while paying off a loan early makes you a good risk, it makes you a bad credit applicant. Companies make money on loans (for the most part -- not always). Paying them off early makes them lose money. Obviously this isn't true for 0% loans, but most loans aren't 0%.

This is why having a credit card that is always paid off is not nearly as good for getting future credit as always having a balance and paying the monthly amount on time.

Credit providers like people who are very conciencous about paying their bills and who are always in debt. That's where they make their money.

Cliff

 

[cowboydoc]

I think you're making a mountain out of a mole hill. For one have you ever tryed to get involved with the credit agencies? It's bigtime dollars. Deere is their own finance company. They do not go to a third party to get your loan financed like most other companies do. Therefore they are not required to report and do all the banking things. They have nothing to do with the credit agencies like other credit agencies do. I think it's a good thing!! Personally I feel the credit reporting agencies are blankety blanks. I mean they give you a bad mark just because you have too many credit cards? And now they've partnered with insurance companies so the insurance company can raise your rates if you are not the top of the credit ladder? Come on that crap should be so illegal. Personally I commend Deere for doing what they do.

Good or bad, unless you enter reposession, Deere does not report the credit. It's a little known fact. Through a computer error a couple years ago my payments got misapplied to another account. I demanded that they fix my credit assuming that they had reported the 120 day late payment. They said they didn't report to credit agencies even if it would have been my fault. I ordered a report not believing them and sure enough there was no report of it.

 

[daTeacha]

Also a bit off topic, and maybe not applicable to a lot of posters here. A big problem with the national economy is the simple fact that too many people are living way beyond where they should be thanks to easy credit. I think the last thing I heard about this is that the average family has a credit card debt of about $10,000.

You just have to wonder how different things would be if all that money wasn't being paid in interest to the card companies.

 

[JDgreen227]

"Deere does not report the credit, it's a little known fact".

Thanks for your feedback and the information. I agree with you 100% about a number of things you say about the credit reporting agencies. I have been trying to clear up the $30 error made by Sears for several years now, with no success. About using credit scoring for home and auto insurance, I have to say I am in favor...mainly because we get lower rates for being responsible and HAVING GOOD CREDIT.

/forums/images/graemlins/grin.gif

 

[riptides]

</font><font color="blue" class="small">( Also a bit off topic, and maybe not applicable to a lot of posters here. A big problem with the national economy is the simple fact that too many people are living way beyond where they should be thanks to easy credit. I think the last thing I heard about this is that the average family has a credit card debt of about $10,000. )</font>

IMHO I don't think this is an issue at all. I say run it up even higher, if a person can MANAGE it, what difference does it make?

The laws are getting stricter now on bankruptcy, so I think the lending practices will change.

-Mike Z. /forums/images/graemlins/grin.gif

 

[Ramairfreak98ss]

</font><font color="blue" class="small">( </font><font color="blueclass=small">(

Credit providers like people who are very conciencous about paying their bills and who are always in debt. That's where they make their money.

Cliff
)</font>

agreed /forums/images/graemlins/mad.gif