Fortholm
New member
Nothing went wrong with respect to the payment. You signed the loan doc to put it on layaway only, it does not get submitted to the bank until you pick up your tractor, sign it again with the start date being the day you pick it up, and the serial numbers are added to the loan contract. The bank has not received any docs and won稚 until you pick up your equipment. Your first payment will then be due at whatever time period from the day you take it home that the bank痴 guidelines call for, usually about 45 days.
Very glad to hear that I don't need to worry about the monthly payment until I actually get my Tractor.
And I'm sorry to let you know this is one more thing to train the troops on at the branch as this is the first I've heard of holding the loan document or layaway. I WAS told they'd put the serial number on when the tractor came in.
Maybe it was because the poor lady was so busy, but I just knew that I signed a loan document for my tractor package that specified a first payment date, and was told my tractor would be here within a week to a week and half.
They had me pay for delivery and a portion of the cost of the tractor package I put down to get the monthly finance charge where I wanted it. The tractor receipt shows my few grand, which they accepted graciously, and the rest shows as being charged to DLL Finance.