Questions About JD Financial

[Git-R-Done]

I have quotes from several dealers. All included a $350 estimated charge for insurance that JD requires to cover the tractor during the finance period.

Is this normal for those that have financed? I actually think its good because it covers theft and damage for 5 years.

Git-R-Done

 

[dodge man]

Yes, I had to get insurance. It’s kind of like collision on a car. I got mine from State Farm but the JD insurance is priced very fair. When I got 0% from JD I also got a $500 discount for it so a cash deal would have cost me more. I’m not sure if that’s true or not.

 

[cperky]

I got a quote from my local insurance guy as I’m considering to purchase a 1025r. For an inland marine policy that covers tractor and also includes coverage for tractor while trailering it was $90 a year.

 

[Lastkidpicked]

When I got 0% from JD I also got a $500 discount for it so a cash deal would have cost me more. I’m not sure if that’s true or not.

It's very true. In fact, I owe very little on my tractor and sometimes consider just paying it off.
What stops me is the insurance only lasts the term of the loan and its so cheap I don't want to lose it.

 

[Eric102]

My home owners insurance covered mine, needed to get a proof of coverage from them to waive the JD insurance requirement.

 

[jaydee325]

I bought an X584 lawn tractor last summer and financed it through Deere.

I asked the salesman if insurance was required and the reply was no.

Also, I knew going in that there was an administrative fee associated with the loan. However, when I sat down to sign papers, I was informed that the admin fees were being waived!

Regarless, I've got an umbrella policy that covers all of my tractors and implements on or off my property.

I'm guessing that some of this stuff is regional? Also, credit score possibly plays into this as well.