down payment % using 0% financing?

[JeffinNE]

What down payment percentage has everyone been required to put down on recent deals using JD's 0% financing?

I'm getting ready to pull the trigger and dealer thought 15-20% down? I've always thought it was 10%?

 

[om21braz]

I thought it had previously been 10%, but there is no info regarding down payment on Deere's website (under Compact tractors - USA). Seems to vary from dealer to dealer according to the info that is available there.

 

[charleyfarmall]

My understanding is that it is 20%

 

[radman1]

Mine was 10% but that was a few years ago.

 

[9973720wb19]

I was not required to put down anything...maybe it depends on the dealer and one's credit...

 

[AKfish]

I agree with the last comment - I think it's dependent upon the dealer as well as your credit rating/history.

I was not required to put anything down but went with just over 10% on my last tractor.

AKfish

 

[sbussell]

Same for me, no down payment was required for the 0/60. I did put some down, but it was not a requirement of the loan. Dealer in NH.

 

[ctlguy]

Personal use notes are typically set up on monthly payments so they are a lot more forgiving on down payment (credit history approving) since they will be getting equity much faster. Commercial or ag users will use a lot of annual note payments and so not surprising to see 30% type down figures. There is nothing that states a minimum percentage down just conventioal loan to value ratios and credit history. Sometimes a dealer that has had a recent hit of repo's on full recourse notes and see their reserve moeny dwindling will add a down percent requirement to help act as a safety net for future repo possibilties.

 

[radman1]

I don't know if % down has to do with credit rating. I have excellent credit rating but dealer asked for 10% down when I bought my JD CUT in 2005. I could have paid the whole amount but why not use their money at 0% interest. There may be different incentives for the dealers with some $ down. I don't think there was a loan fee. Could that be why 10% was required down?

My last ag tractor through Case-IH also required 10% down in 2008. $90,000 purchase with trade in of JD 5300. The 5300 was enough to cover the 10% down. Again at 0%, why not use their money.

 

[hink10]

I just bought a 2305 with the promo financing, required 10% down.

 

[JeffinNE]

I think sales guy was just preparing me for potential of a big down in case my credit came back below average.

Closing the deal today, got approved, and voluntarily putting only 10% down. Could have put down less.

I do remember seeing past promotions requiring 10% down, but nothing mentioned on website.

Radman---I ended up buying at the dealer you recommended a year or so ago when we had a PM. Thanks! I have used them for some other stuff in the last couple years and they are a great dealership.

 

[radman1]

I think sales guy was just preparing me for potential of a big down in case my credit came back below average.

Closing the deal today, got approved, and voluntarily putting only 10% down. Could have put down less.

I do remember seeing past promotions requiring 10% down, but nothing mentioned on website.

Radman---I ended up buying at the dealer you recommended a year or so ago when we had a PM. Thanks! I have used them for some other stuff in the last couple years and they are a great dealership.

They are good guys to deal with. Congrats on your purchase.