Kubota Credit Corp Balance

[MDNick]

Had a bit of a scare over my loan balance. As a lot of you probably have, I got a letter from KCC that said the info line was back in service. Well, I didn't really know it was out, so great. So I called it.

As a lot of of folks probably do, I keep a running talley of my payments and loan balance. I know it won't match exactly what KCC thinks, but it better be with in $50 or so. Well, they said my balance was $2,000 /w3tcompact/icons/shocked.gif more than I thought. So I collect all my paperwork, spreadsheet with payment info, and prepare for battle. Of course you realize, this means war./w3tcompact/icons/mad.gif

Then their info line goes down for 3 days, apparently again. Not that I noticed or cared the first time, but that's not the point. Finally got through this morning. Checked my account balance, yep $2100 more than I thought. I tried to get connected with a human being, to early, not open yet. So I play around a little and decide to check what they think the payoff balance would be. Darned if that value isn't about $60 from what I think it should be. /w3tcompact/icons/blush.gif

Apparently what they call the balance includes any interest that might accrue betwixt now and when they forsee me paying this thing off. Mind you, I've been paying almost double for sometime now, so their balance never has nor ever will mean squat. Why did they have to give me stress test like that? To me, my 'balance' should be the principal remaining, or my payoff, and shouldn't include any interest at all. But what do I know, I'm just a dumb part-owner in a tractor. KCC still thinks they own $16,000 of it.

Nick

 

[Will_C]

MD Nick;
I know what you mean about the balance and loan pay off figures. Like you, I have been paying as much as I can toward the tractor, and the pay off is the only thing that concerns me. If someonewas going to pay the loan off over the whole duration, what difference does any of these figures make?

 

[art]

It's not just Kubota credit but all the companies we deal with. A buy out or payoff is different than the total owed.

 

[rockyridgefarm]

Accounting rules are interesting. It seems much of the corporate "scandals" that are going on have to more with accounting methods than actual misrepresentation. By showing these "inflated" balances KCC would show greater projected cashflow. Not quite cooking the books, but definately puts your best foot forward.

I know next to zip about accounting, so my theory and 50 cents might buy you coffee, oops you'll need a little more change /w3tcompact/icons/smile.gif

 

[B7500]

Hehe, love your discription of the problem. You should write for a living.
-T

 

[MDNick]

Thanks Tawoo,

I try to type things out like I talk. Thing is, I'm much quicker on my feet when I have time to set and think about it.


Rocky Ridge,

You make some good points. Their spin is definitely more positive than reality. And if they are off a measily/w3tcompact/icons/eyes.gif $2k on me, X a whole bunch of me's, that's a lot of rosy pictures. Now I know how Martha Stewart got so rich. Book Cookin.

Art, WillC,

Guess I never realized. Why can't they be logical? I.e., follow my logic. I understand it. It's the way the world should be. /w3tcompact/icons/laugh.gif

Nick

 

[dgood1]

Nick,

If you want to really get in trouble; talk about female logic.

They use dirfferent rules for their logic. ( I saved all this money by buying this on sale ) is one of the best examples.

Don

 

[ohso]

Your post makes me think even more about not financing but just keep putting money away in the Ohso Fund. Any one have any downfalls of paying cash other than having to wait for another 9 - 12 months. Can't wait now but this board helps me learn more all the time. And to pass time as well.

 

[MDNick]

Don,

I am fairly sure that female logic is like military intelligence, an oxymoron. My ex-girlfriend's drivers window would only go back up about 50% of the time (eventually traced to a short). She knew this, YET STILL CONTINUED TO PUT IT DOWN!!! And then whined when it wouldn't go back up. HELLO, don't put it down, and it won't be a problem.

To the ladies here. Sorry. If we didn't have so much evidence, we wouldn't have this viewpoint./w3tcompact/icons/wink.gif

Nick

 

[dgood1]

MDNick,


I stand by my previous post. Women use different rules for thier logic. What seems logical to males has no bearing when women use thier logic (emotions).

I really am trying to start a spirtited discussion going here, but it looks like the women aren't being lured in.

Don