Posted by JD Seller on June 23, 2013 at 14:09:05 from (208.126.196.144):
In Reply to: Kubota financing posted by highloper on June 23, 2013 at 11:13:47:
Kubota Credit is OK they are just like JD credit and CIH Credit. They help increase sales by making more people able to buy new machinery. Their only reason for being is to help sell more machinery.
The only thing is that nothing is free. You are just front paying the interest. What do I mean?? When you take the zero percent financing you give up a cash discount. That is usually around 3-5% of Manufacture dealer price. You more than likely never know about it. It is a dealer credit when they settle on the new tractor with Kubota.
It is a common practice. Usually there are several sales incentives for each model/series of tractor.
Examples of how they would usually be:
1) 4% cash discount 2) O% Financing for 24 months 3) 2% financing for 36 months 4) 3% financing for 48 months.
These are just numbers to show how the thing usually works. The company is willing to spend so much money to help sell the tractor. That would be the 4% of MDP. The other financing usually costs about the same as what the cash discount is. What I mean in normal times the money would be used to offer interest rates lower than prime. The company has to pay that cost up front. So the shorter the term the lower the interest rate. The true cost is about the same for all the different programs. You just have to know what each buyer needed.
This is on the settlement side. Many salesman never know about some of these programs. The person settling with Kubota or JD would know this information.
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