New Holland Credit

uptaker73 · Feb 26, 2005

Went today to look at a TC30 with loader and R4 tires. They priced it at $13500.00 not to bad I thought. My question is about credit. About 5 years ago I had a bankruptcy but since then everything is ok no late payments nothing have purchased and paid off several items. I was wondering if anybody else has been in this situation and been able to get financed on a new tractor. I believe New Holland credit may be to strict?

thcri · Feb 26, 2005

I guess make sure you are up front with them. Tell them about your bankruptcy and show them how you have taken care of it since. You are far enough in and may have re-established your credit that they may say yes. But I wouldn't be surprised if they don't ask for a bunch of money down.

murph

uptaker73 · Feb 26, 2005

Thanks murph I will be talking to them this week hopefully something will come about. There is not many options for people who have had credit problems in the past when it comes to buying a compact tractor. I'm hoping somebody has been in my situation before and was able to make a purchase. It would be nice to do something this spring my old Ferguson is about had it.

Robert_in_NY · Feb 27, 2005

Also remember, tractors are easy to repo and resell so they are more willing to loan money then car companies. But like Murph said, be up front with them. Good luck

Tryno · Feb 27, 2005

I just arranged financing of a new TC 30 and some other toys through New Holland. Even with excellent credit they are asking for 20% down depending on how long of a contract you want. Been waiting a couple of weeks now for all of mine to come in and get setup, decided there was a better way to finance the new tractor - home equity loan. Basically makes the interest tax deductible, no down payment, terms out - I guess 20-30 years if you want them. Just another option to consider

uptaker73 · Feb 27, 2005

Think I'll talk to my credit union thats who I have my truck through its at 5% interest. Wonder if the newer tractors have a vin like a car?

jwstewar · Feb 27, 2005

They don't necessarily have a VIN, but they do have a Serial No. Same thing - yet different. Doesn't go across all lines of vehicles like a VIN does. It just says what number in the model this was to be producted.

spencer200 · Feb 27, 2005

Generally credit unions around here treat tractors like RV's thats in new england anyways, and nh credit has much better rates then RV rates

uptaker73 · Feb 28, 2005

Just found out today that NH credit will not finance anyone who has had a bankruptcy in the past even if there out of it.
Maybe something will happen still got to talk to credit union.

LarryD · Mar 1, 2005

<font color="blue"> Generally credit unions around here treat tractors like RV's </font>

I did call my credit union when I was financing and their rate was over 9%...I guess tractors are a luxury item. Now I know I have fun on mine but but it aint like fishin' /forums/images/graemlins/grin.gif