John Deere Interest Rates

[BCNU]

Anyone know what Deeres interest rate is for a compact utility tractor for 60 months. I am looking at a 2320 whenever they come out. Their website shows 0% for 36 months or low introductory payments for 36 months and then interest jumps to 9.9% based on 2% of original purchase price.Or no payments for 6 months with 20% down and then 9.9%. Why don't they just do like Kubota and post simple interest rates with the number of months? Go to their website and it shows 60 months at 3.99% for compact utility tractors plain and simple. I hope they have a rate that competes with Kubota, 6% higher makes a big difference in the monthly payment.Thanks in advance for any info!

 

[NJDeere]

5.49%-60 months

 

[BCNU]

NJDeere, do you have a link with the interest rates posted?

 

[gordon21]

There are more rate/term combos available than listed on the JD web site. I recently bought a new 790 package and asked for 84 months terms. I got 7.49% and the requested 84 months. Total package was $15,575 out the door and I put down $2,000. JD financed the $13,575 $209 per month

Call the JD financing center BEFORE you finalize the deal with the dealer. That way you know your options before you sign the contract. Definitely get the JD insurance with your loan. It is dirt cheap. Under $50 per year for $13,575 in coverage.

 

[awlchu]

</font><font color="blue" class="small">( ......Definitely get the JD insurance with your loan. It is dirt cheap. Under $50 per year for $13,575 in coverage. )</font>

Gordon21,

What is the insurance, fire/thief.....?

 

[gordon21]

I have not received the paperwork for the insurance itself, but it met JD requirements for full coverage for the loan. I will post more details once it arrives in the next week or so.

 

[NJDeere]

No the rates are not posted, I checked and they are not on the public side.
Here is the current list:
0%-36 mo
4.49%-48 mo
5.49%-60mo
6.49%-72mo
7.49%-84mo personal use only
10.9%-60mo-if you don't qualify for the above rates, but are not declined financing.
10% downpayment required. Any other questions... I will try to answer.
I have attached the terms/conditions of the Physcial Damage Insurance.

 

[BCNU]

NJDeere thanks for posting the interest rates! Thats what I was looking for.

 

[hutch4472]

Ya, NJDeere thanks for the inside scoop, so that 7.49% for 84mo personal use only means you are only using the tractor for personal use and not making money with it at all? Thanks, Tom

 

[NJDeere]

Personal use only means you can not finance it as a business, it must be financed as a private individual. And your right, you're not supposed to be making money with it.