Well if your buying a new tractor or combine, even implements there are discount programs that make LIST price really meaningless. Those discounts can be in several forms: straight cash discount, lower interest rate, longer terms with a slightly higher interest rate. So what would you have the dealer advertise???? The lowest price possible and then have to tell the customer that he can NOT get that price PLUS low rate financing???? Very few new big purchase items are going to advertise price. It just varies too much based on what the customer needs/wants.
Even when you set down and show some people the actual numbers they still get stuck focusing on things. Had a customer buying a new mower conditioner. He had a high value trade-in. I ran the numbers. He was better off NOT taking the zero percent financing since he was financing a smaller amount. The cash discount and regular financing made his payment lower. HE blew up and got all kinds of mad, screaming at me that he want the zero percent financing. So that is want I got him. He gave up a 4% cash discount on the entire MDP just to finance 20 percent of the cost at zero percent. In this case he gave up $1200 of discounts. The interest he saved with the zero percent was under $200. Then to make it even worse he paid it off early. BY taking the zero percent and giving up the cash discount he really just front paid the interest, so paying it off early made the value of the zero percent even lower.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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