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 - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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