JD Credit

cef2lion · Feb 23, 2006

Been working with my dealer on trading my 05 HPX Gator for a new 06 model. I have my 05 with JD revolving credit at 3.9 percent interest. I planned to pay the difference in trade with cash but my dealer came up with an issue. He talked to JD Credit. He now says he can't take my trade unless I refinance the entire loan with JD Credit at the going rate of 8.9 percent. He says my 05 serial number would show up in dealer inventory. My 4410 was on an installment JD loan and used as collateral. Didn't think the JD revolving loans were the same way. Seems like they are treating it that way. The current 8.9 rate offer expires on the 27th. Going to see what they come out with next for rates or drop the trade idea.

Craig

HRS · Feb 23, 2006

Why the interest in trading up so soon?

HillbillyFarmer · Feb 23, 2006

Why don't you call JD Credit directly. They are very responsive and easy to get hold of.

Cliff_Johns · Feb 23, 2006

I think this is pretty much how any loan to buy an item works. If you sell the item, you have to pay off the loan. It's a loan to buy the thing, not a general loan of money to buy products from that company.

That said, It's always worth a try. I'd also give them a call. Worst they can do is say no.

Cliff

cef2lion · Feb 23, 2006

Will give JD a call. I have talked with them in the past. This revolving account is like a credit card. It has a limit and I have a card to purchase items from JD. JD put the Gator balance on that account with a special rate of 3.9. I guess if I buy items I would see those as a separate item with a different rate. I can see there point but it can't hurt to ask.

I drove one of the 06 models last week at the dealer. They went to a Tier II diesel engine. A bit less noise and less fumes. Seemed to have a bit more go as well. Brakes are better and they improved the steering. Front end has limited slip as well. Its on there Web site now listed under 06 Gator.

Craig

chevy · Feb 23, 2006

I have purchased a 455 on the revolving account & currently have a balance at 3.9% for some other JD equipment. I was never told there was a lien on items on this account. It was my understanding that the JD revolving account was just like any other credit card account.
Have you signed up for online access for your account? If there is a lien on your Gator, it would be listed on line. Also
if John Deere has a lien on your Gator, your paperwork should say that. Your dealer my be trying to pull a fast one.

cef2lion · Feb 24, 2006

I did call John Deere credit. They said my revolving account works like a credit card with a limit. They said there is no lien on my existing Gator and I should be able to trade it on a new one without issue. They said to have my Dealer call in and they can explain the process to them.