I sell a lot of stuff on contract. Everything has terms spelled out. Generally speaking, if its a year or less term I charge but dont assess interest unless the payments are late or the buyer runs long. For example, I sold serveral loads of hay this year 90 days same as cash. For the 90 days the payments are 10 percent of the balance due each month with a balloon at the end. Interest accures from day one at 18 percent APR which is maximum legal interest in my jurisdiction but, if the balloon is paid in full on time the interest is waived. If not or if they then need longer terms the interest has already been compounding.
On land sales where I hold the first mortage I charge prime plus 4 percent fixed with 25 percent down. For each percent less down adds one half of one percent to the interest rate. Since these are mostly building lots and I want them built on pretty quick they are set up with monthly payments on a 20 year schedule with a balloon at the end of 4 years to pay off the full amount.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Tractor Generators - by Chris Pratt. As a companion to the articles on three-brush and two-brush generators, it seemed fitting that we should provide our readers with a description of how a generator works in lay terms. The difficulty with all those "theory of operation" texts is that they border on principles of electricity or physics and such. Since I know nothing of either, you will have to put up with looking at the common sense side of how generators work which means we "
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
