Used R4047

[dirtymartini]

So does that mean you would do it?
Edit: For a tractor.

As much as I would like to buy this tractor I would not rob my 401k...aside from the penalties you are also lowering the principal which will affect the compounding effect in years to come.

 

[BlessedMess]

Now I have to figure the best way to finance. Any suggestions? Is there anybody who specializes in financing used tractors? I would use my home equity but need to keep that free for right now.

Beautiful tractor! Hope it works out. A few thoughts since the 401k and home equity options are less attractive.

A) My best rate for a tractor loan was thru a credit union... maybe check online or call one up to see what their rates/qualifications are for used equipment? If you have military status many FCUs operate nation-wide via mail regardless of your residence.

B) If you have a paid for vehicle (or almost paid for vehicle), you may be able to refinance its book value at 2% or less (again, credit union may have better rates).

C) Depending on your credit score and income, some lenders offer substantial unsecured loans.

D) Get one of those airline credit cards and earn a bazillion points, then do option A or B above before the first payment is due? LOL

Whatever you do, may want to act fast. If/when the Fed raises interest rates your payment will go up and/or loans may be harder to obtain.

 

[dirtymartini]

Beautiful tractor! Hope it works out. A few thoughts since the 401k and home equity options are less attractive.

A) My best rate for a tractor loan was thru a credit union... maybe check online or call one up to see what their rates/qualifications are for used equipment? If you have military status many FCUs operate nation-wide via mail regardless of your residence.

B) If you have a paid for vehicle (or almost paid for vehicle), you may be able to refinance its book value at 2% or less (again, credit union may have better rates).

C) Depending on your credit score and income, some lenders offer substantial unsecured loans.

D) Get one of those airline credit cards and earn a bazillion points, then do option A or B above before the first payment is due? LOL

Whatever you do, may want to act fast. If/when the Fed raises interest rates your payment will go up and/or loans may be harder to obtain.

Roll Tide! My Mom and Brother live between B'ham and Gadsden

I could do the personal option at my local bank for 7.75%, I'm waiting to see what farmbureaubank has to say. They are at 5.13%

 

[dirtymartini]

One step closer...Farm Bureau Bank just approved me at 6.13% A little higher than I hoped but I can always pay off early. Just waiting for the check....

 

[Citydude]

One step closer...Farm Bureau Bank just approved me at 6.13% A little higher than I hoped but I can always pay off early. Just waiting for the check....

Congrats!

 

[hutchman]

One step closer...Farm Bureau Bank just approved me at 6.13% A little higher than I hoped but I can always pay off early. Just waiting for the check....

Excellent! You'll be posting pictures and videos of it before you know it.

 

[BlessedMess]

Roll Tide! My Mom and Brother live between B'ham and Gadsden.

Beautiful area... the Mrs and I liked all the rolling hills, wide open areas, lakes and rivers when passing thru a few months back. And hats off to nearby Jackson State for (almost) beating Auburn... our two favorite teams are Alabama and whoever is beating Auburn :-D

Congrats on your tractor loan, and hope you enjoy your LS as much as I have. Today I did odd jobs with the backhoe, loader, and finish mowed a field... you'll appreciate that BH and (if it's like the XU) they're not too hard to get off... ~5 minutes . Putting it back on is a little more tedious...

 

[dirtymartini]

Beautiful area... the Mrs and I liked all the rolling hills, wide open areas, lakes and rivers when passing thru a few months back. And hats off to nearby Jackson State for (almost) beating Auburn... our two favorite teams are Alabama and whoever is beating Auburn :-D

Congrats on your tractor loan, and hope you enjoy your LS as much as I have. Today I did odd jobs with the backhoe, loader, and finish mowed a field... you'll appreciate that BH and (if it's like the XU) they're not too hard to get off... ~5 minutes . Putting it back on is a little more tedious...

Thanks BlessedMess, I'm looking forward to it. Just waiting for the check to be mailed to me. I'll post pics when I get it.

 

[ozley]

Thanks BlessedMess, I'm looking forward to it. Just waiting for the check to be mailed to me. I'll post pics when I get it.

Enjoy yourself and good luck with trouble free hours.

 

[dirtymartini]

Went to pick it up today and the trailer I borrowed was too small (short) I did notice that when driving the 4047 with the backhoe attached the front end was very light, I had a hard time steering while maneuvering to load up. Is that normal with the backhoe attached? I guess I could have used the split brakes to help out but was just surprised at how light the front end was.

Now I'll be picking it up Friday.