TYM vs Yanmar

[Torvy]

Well. Bury your head in the sand, but the vast majority of people with wealth use credit wisely.

 

[jyoutz]

Cash, Cash only. This is the WAY. The FALLACY of investing the cash and paying by month is a FALLACY. There is 10,000% more chance of you losing that job, your wife losing hers, a major health issue that has you not earning for a year, or just an accident that removes your ability to earn and you've got PAYMENTS to make. Same thing g as the idiots claiming house flipping is great, or buying multiple rentals on loans only. LIFE and Murphy have their plan too. CASH and it belongs to YOU. Not the bank.

If your cash is invested, you still have it in case of emergency. I’m not following your argument.

 

[CloverKnollFarms]

Until you need it and the market is down 20%

It's a personal choice. Personal finance and all.

I'm a 100% cash guy. I don't really care what other people do. If borrowing makes them wealthy, awesome. I just took a different road to the same outcome I suppose.

I'm sure I spend less, because seeing $50k leave my hand, is more painful than a monthly payment. Others may not, but I know it makes me, personally, a more thoughtful consumer.

 

[jyoutz]

Until you need it and the market is down 20%

It's a personal choice. Personal finance and all.

I'm a 100% cash guy. I don't really care what other people do. If borrowing makes them wealthy, awesome. I just took a different road to the same outcome I suppose.

I'm sure I spend less, because seeing $50k leave my hand, is more painful than a monthly payment. Others may not, but I know it makes me, personally, a more thoughtful consumer.

I have a 10% stop loss on my investments.

 

[CloverKnollFarms]

Cool.

 

[JTKub]

Usually with the 0% finance "carrot" ... Comes the "big stick" requirements to carry loss/damage insurance on the tractor, same as cars ... Which raises the overall cost of the purchase.

I'm debt free, If I want something and I don't have the money for it, I just keep saving until I do.

This is exactly right.

I had been shopping Kioti, LS, Mahindra and TYM sub compacts. Every one of them with the low/no interest for a zillion months deals required loss/damage insurance, plus you will pay near MSRP prices since the low interest loan is in lieu of any rebates or discounts.

I didn't even price what the insurance would cost. All I know is the $16k all-in out the door price I paid for my little TYM T224 with FEL and 54" MMM would have been $20K+ financed, not including insurance costs for the duration of the loan.

 

[Torvy]

You cannot be legally required to get THEIR insurance, you just have to be covered for the collateral on the loan...just like any other collateral based loan.

 

[Yander]

Well, to be fair, you had more chance of dying driving to work, than I did spending a week in a plane

I drive in downtown Columbus 2 days a week as a hybrid worker, and I know this is true. Roadways are worse than ever!

 

[Yander]

You cannot be legally required to get THEIR insurance, you just have to be covered for the collateral on the loan...just like any other collateral based loan.

This is accurate. I just have a rider on my home owner policy that they excepted for my Yanmar when I bought it in 2022. It was very affordable and I would have put it on the policy even if the lender didn't require it. Even if I paid cash for it I would have put it on the policy.

 

[arrow]

These Yanmar TYM's must still get that 10 year warranty, and that might get some potential TYM buyers through a Yanmar door. That's a lot of piece of mind.

Check for any pro rating.
We offer a 7 yr warranty that includes everything in an oil bath. The rest of the tractor carries 1 yr 3 pt to bucket.
As has always been the case, mechanical warranties are usually administered to the strongest parts of the machine or least likely to fail.

 

[arrow]

I've been reading about car financing and saw that dealers often push financing because they get a kickback that allows them to sell for less, if financed.

So for the customer, if you actually can afford cash, its important to see if the contract allows paying off the loan early. That might get you the best price of all.

Usually, auto dealers were making 1% for financing.
Seldom is there a pre pay penalty on low percentage loans and I wouldn’t rush to pay off a low percentage loan if my money can work for me elsewhere.

 

[arrow]

I had a financial advisor once who wanted me to leverage everything and invest everything. Even down to an interest only home loan.

My personality doesn't rest well with owing anyone anything. So, we went through life only paying things in full. Including our last home, property, tractor, cars...

Now, I am good at math. So I understand interest and ROI. I also place value on risk and peace of mind.

Now, we have averaged 13% in the market for a couple decades. I might have been more wealthy if I had leveraged my life. I might have also spent a lot more, knowing I didn't have to have the cash to buy it at the time.

I have a lot of peace of mind. I retired early. Maybe I'd be more wealthy. Not sure the anxiety would have been worth it.

Definitely about how a person is wired.
Im aware of guy as a prime example.
He had a $5000 fuel bill coming up that he didn’t have the money for so he took the money he had and went to play 21 at a casino.
He parlayed his money into 20 grand and started what we now know as the FedEx company.
A commonality of big money ppl is their greater risk tolerance.

 

[arrow]

You cannot be legally required to get THEIR insurance, you just have to be covered for the collateral on the loan...just like any other collateral based loan.

Also,
Some manufacturers’ insurance is more comprehensive. Ours covers mice damage.

 

[arrow]

This is exactly right.

I had been shopping Kioti, LS, Mahindra and TYM sub compacts. Every one of them with the low/no interest for a zillion months deals required loss/damage insurance, plus you will pay near MSRP prices since the low interest loan is in lieu of any rebates or discounts.

I didn't even price what the insurance would cost. All I know is the $16k all-in out the door price I paid for my little TYM T224 with FEL and 54" MMM would have been $20K+ financed, not including insurance costs for the duration of the loan.

Financing is really purchasing time.
Time is a commodity no different from a sack of grain.
It all Depends where the hunger lies.

 

[WM75Guy]

We use credit wisely. Kubota offered 0% for 48 months or $300 cash discount on our RTV-X purchase. The $15,000 financed will make $600 annually in our money market account. Payments are made out of monthly cash flow, not pulled from the money market account, so it made sense to finance it. Insurance wasn't an issue as all of my equipment and tractors are insured, financed or not. Kubota Finance accepted my Texas Farm Bureau insurance in lieu of KTAC insurance.

 

[JTKub]

You cannot be legally required to get THEIR insurance, you just have to be covered for the collateral on the loan...just like any other collateral based loan.

The only make I shopped that mentioned damage/loss insurance was available through the manufacturer was Mahindra. Those details never came up with Kioti, LS, etc.

Times have changed. In my younger days, I would take loans out for personal water craft, snowmobiles, etc and no insurance was required back then, for the loan or otherwise. This was 25+ years ago.

I know everyone's situation will be different, but insurance is out of control in the PR of NY. My auto policy is $8K/year as I cover my 19 and 21yr/old sons on my policy (they pay me) along with the bride and I. 4 low cost vehicles, only 2 with collision coverage. Home owner's insurance goes up every year. I'm in the ~$1600/yr range for that as well.

I was recently bounced off of NY Central Mutual for filing two deer hit claims and one glass claim in a 24mo period. I had quotes as high as $13K/year during that shopping fiasco for a replacement policy. My 23yr/old daughter went off on her own policy (she moved out of state), which dropped me from 5 to 4 vehicles.

 

[JTKub]

Financing is really purchasing time.
Time is a commodity no different from a sack of grain.
It all Depends where the hunger lies.

I'm with you. Everyone has their own belief system and needs at the time. I actually took a 401k loan for my little TYM T224. I'll be paying myself back weekly.. for a lot of weeks at relatively high interest.

You have the Dave Ramsey followers and you have everyone else. LOL

 

[CloverKnollFarms]

I'm with you. Everyone has their own belief system and needs at the time. I actually took a 401k loan for my little TYM T224. I'll be paying myself back weekly.. for a lot of weeks at relatively high interest.

You have the Dave Ramsey followers and you have everyone else. LOL

Dave Ramsey team actually wrote an article about our family