Downpayment
- Thread starter Wheeldog
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Thomas
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- Lebanon,NH.
- Tractor
- Kubota B2650HSD w/Frontloader & CC LTX1046 & Craftman T2200 lawn mower.
Wheeldog,
The Kubota dealer in which I do business with ask between 5% to 10% depending on which model you purchase.
Thomas..NH /w3tcompact/icons/wink.gif
The Kubota dealer in which I do business with ask between 5% to 10% depending on which model you purchase.
Thomas..NH /w3tcompact/icons/wink.gif
Bird
Rest in Peace
Wheeldog, if I remember right, I think my dealer told me that 25% is what Kubota Credit would like to get; doesn't mean they won't take less, if you have a good credit rating.
Bird
Bird
Anonymous Poster
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Just went through KCC with a minimum of 20% down for
an interest rate of 6.99%
an interest rate of 6.99%
Thomas
Epic Contributor
- Joined
- Apr 6, 2000
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- 32,033
- Location
- Lebanon,NH.
- Tractor
- Kubota B2650HSD w/Frontloader & CC LTX1046 & Craftman T2200 lawn mower.
Wheeldog,
Thats the down payment 5% to 10% in which we make a down payment due to years of credit.
What Bird wrote pretty close in what new tractor owners put down for a payment.
Sorry if I didn't explain better.
Thomas..NH /w3tcompact/icons/wink.gif
Thats the down payment 5% to 10% in which we make a down payment due to years of credit.
What Bird wrote pretty close in what new tractor owners put down for a payment.
Sorry if I didn't explain better.
Thomas..NH /w3tcompact/icons/wink.gif
OK. I can live with 20%, and even though I've never had a tractor loan I think that a few car loans paid off and a clean credit record may help.
Kubota's current financing options (including the 6.99%) look like they run out at years end. I've been sort of counting on the fact that they will be extended, or will come around again in the late Winter / early Spring, but I'm not sure if this will come true. On the other hand, maybe "Crazy Al" Greenspan will lower interest rates, and I'll get a smokin' deal! (It's good to dream).
Thanks to everybody for their help.
Kubota's current financing options (including the 6.99%) look like they run out at years end. I've been sort of counting on the fact that they will be extended, or will come around again in the late Winter / early Spring, but I'm not sure if this will come true. On the other hand, maybe "Crazy Al" Greenspan will lower interest rates, and I'll get a smokin' deal! (It's good to dream).
Thanks to everybody for their help.
JerryG
Super Member
Some of the companies will reduce the interest percent according to the down. The more you pay down, the lower the interest percent. AGCO Finance (Massey)is one such company.
JerryG
JerryG
art
Super Member
Normal requests from the manufacturers are for a 20% down payment for new and 30% for used. Many times 10% will work you just have to try. Some dealers may ask for more and it may be the finance company that they are working with. You have to remember the deal is not done until the financing is done.
art
Super Member
The length of terms often has to do with how much is financed as well as programs from the manufacturer. 60 months is not uncommon. On larger puchases such as M-series they go 72 months.
bpence
Platinum Member
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- Jun 16, 2000
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- 532
- Tractor
- Kubota B7100 HST - 1995
Finally a topic I know a little something about. I work for one of the Big-3 captive finance companies and can share a bit about what to look for in a finance arrangement.
1) Down payments are very often a function of an applicant's credit worthiness. In other words, does the customer pay their bills? If so, many lenders will accept a small down payment, or even no down payment on a purchase like a car, truck, or tractor.
2) Indebtedness. A lot of folks are over-extended and one of the ways lenders often try and limit additional credit is to ask for larger down payments.
3) Your terms and conditions. If you are a good credit risk, ask the dealer's lender(s) for terms and conditions that suit you. Just because a lender may want 10%, 15%, or even 25% down, it may not be the right arrangement for you and if the dealer wants to make a sale he/she will work as the intermediary between you and the lender.
4) Shop around if a particular lender doesn't meet your needs. Most captive finance companies (Kubota, John Deere, New Holland) are very good and very competitive in the tractor market. They want to support your dealer and want to finance your purchase, often with 60, 72, and even 84 month finance plans. Your dealer knows how to work with these folks, and if terms just can't be worked out, I'll bet the dealer has another bank or lender or two available.
5) Large down payment requirements (20% or more) are somewhat "old school" thinking. Lenders used to believe (some still do) that a large down payment protected their interest in case of default or reposession. In today's world, a customer's credit worthiness should be the determining factor in whether or not a lender will write a loan.
Hope this helps. Negotiate the terms and conditions you want....the lender, not the dealer, will make the ultimate call on financing your purchase.
If you can afford the monthly note, and want to keep your cash for other purposes, work on a low or no down payment deal with extended terms (60 months or more). If you can really afford the monthly note, do a low/no down deal for 24 to 36 months......quickest way to ownership with lower interest charges. Always remember though, interest charges do apply and that my friend is how we manage to make a buck.
Bob Pence
1) Down payments are very often a function of an applicant's credit worthiness. In other words, does the customer pay their bills? If so, many lenders will accept a small down payment, or even no down payment on a purchase like a car, truck, or tractor.
2) Indebtedness. A lot of folks are over-extended and one of the ways lenders often try and limit additional credit is to ask for larger down payments.
3) Your terms and conditions. If you are a good credit risk, ask the dealer's lender(s) for terms and conditions that suit you. Just because a lender may want 10%, 15%, or even 25% down, it may not be the right arrangement for you and if the dealer wants to make a sale he/she will work as the intermediary between you and the lender.
4) Shop around if a particular lender doesn't meet your needs. Most captive finance companies (Kubota, John Deere, New Holland) are very good and very competitive in the tractor market. They want to support your dealer and want to finance your purchase, often with 60, 72, and even 84 month finance plans. Your dealer knows how to work with these folks, and if terms just can't be worked out, I'll bet the dealer has another bank or lender or two available.
5) Large down payment requirements (20% or more) are somewhat "old school" thinking. Lenders used to believe (some still do) that a large down payment protected their interest in case of default or reposession. In today's world, a customer's credit worthiness should be the determining factor in whether or not a lender will write a loan.
Hope this helps. Negotiate the terms and conditions you want....the lender, not the dealer, will make the ultimate call on financing your purchase.
If you can afford the monthly note, and want to keep your cash for other purposes, work on a low or no down payment deal with extended terms (60 months or more). If you can really afford the monthly note, do a low/no down deal for 24 to 36 months......quickest way to ownership with lower interest charges. Always remember though, interest charges do apply and that my friend is how we manage to make a buck.
Bob Pence
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