Financing Financing problems/caution....

[MotorSeven]

One more thing to ponder....

I subscribe to a credit monitoring service, it appeares that 'Bota also uses Agricredit.

Hmmm.....makes me think it was a dealer induced problem.

RD

 

[gamble77]

Here is something to consider because I know how agricredit usually works.

With Agricredit when you go to finance for 84 months the financing gets kind of complicated. As long as you stay with 72 months or under agricredit will finance up to 110% of the DEALER COST of the machine. Now, when you go to 84 months or over the Agricredit can only finance up to 90% (I believe) of what DEALER COST is. 84 months is more of a risk for Agricredit and therefore they want more $ down. So that is why they wanted you to pay more down or to change the finance length.

Thats my take, because 10% down won't cover the cost difference that Agricredit is looking for.

 

[MotorSeven]

Gamble,

Ahh...Ha, thanks for the info, it makes sense! What does not make sense is that tractor copmpany's offer that fails to notify the buyer of those MINOR details. Also the failure of the dealer/salesman to provide a reasonable explanation.

BTW, i think your Ck's are being delivered ahead of mine....that's what i get for wasting time getting an education in tractor finance 101 /forums/images/graemlins/frown.gif /forums/images/graemlins/grin.gif

It should be in during the 2nd week of OCT. The dealer in Sneedville has been a pleasure to work with!

RD