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 | scott wilson
Join Date: Posts: 1 
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1999-03-14 1699
Has anyone come across any rent/purchase lease/purchase options thatwill get you financed longer than the traditional 5yr?The best I have found so far is a dealer that will take the 20% down over6mos as a rental (full application) and then 7.9% 60mos. I am looking forsome way to get a new tractor at 84mo or longer.
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| guest
Join Date: Aug 2017 Posts: 0
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1999-03-14 1700
Have you considered a home equity loan? Unlike dealer financing options, the interest is tax-deductible to boot. ....
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| guest
Join Date: Aug 2017 Posts: 0
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1999-03-14 1714
Deere currently has 10% down 9.9 for 84 months. ....
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| guest
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1999-03-15 1732
Guys:It's just a tractor. I can understand wanting a new one, but if you have to finance one of thesefor more than 5 years you should really reasses what your goals are whenbuying an item that depreciates. Really 5 years is enough.... ....
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 | dsg
Join Date: Jun 1999 Posts: 528 Franklin, Maine 
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1999-03-15 1734
Usually I would agree, I once was a financial consultant. But when it comes to trators they do not depreciate like other autos. If at all possible wait, save the $$. But if you must, a tractor is better than any other Vehicle for slow depreciation. Just be aware of what you are doing. Multiply the # of years by the payment, subtract the price of the machine== that is what you are paying for the convenience of payments.David ....
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| guest
Join Date: Aug 2017 Posts: 0
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1999-03-15 1738
Folks these tractors are a tool that depreciates!! They are not an investment. Financing for greater than 5 yearsis foolish at best. One could consider it an option if the tractor was for commercialwork and you could depreciate it over the first 5 years. ....
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| John Boylan
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1999-03-16 1747
Some farmers will lease for up to 5 years and then purchase @ lease-specified price & financing, typically for 3 to 5 more years of payments. This lets you bail out at the end of the lease if you need to. Of course, as larry murray and larry m have indicated, you pay for all these choices. ....
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| guest
Join Date: Aug 2017 Posts: 0
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1999-03-16 1766
Financial consultant, I hope you have finally found success in another field.It doesn't take my MBA in Finance to realize that you borrow short and you lend long.A tractor is not an automobile, it is a tool. Where is your empirical data thatproves a tractor will depreciate at a lower rate that a car. An automobile is a conveyance to and fromwork, i.e. your income or revenue. A tractor in many cases is a luxury item thatone uses disposable income to purchase. Most of us would not want to make car payments for 5 years, but in some cases you have to because it is how you get to and from work.Is it worth paying 8-9% interest for a tractor that for 5-7 years? Maybe the best solution is to buy a tractor and drive it to work for 5-7 years. ....
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| guest
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1999-03-17 1798
Go out and find a tractor blue book and compare to an auto blue book. You will find car depreciate at a far higher rate. Some Kubotas depreciate at only 2% a year, mainly the compacts. Find me a car that can go under 10% --NOT.. Why ? supply and demand..... ....
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1999-03-18 1799
I agree that cars depreciate at a much higher rate. So feel free to do the legworkyourself. It's just plain crazy to take a loan for 7 years. No doubt about tractors holding value look at all the 30-40 year old 8N's and 9N's that sell for $2500-$3500eveb today. But 2% depreciation, What model of Kubota, because that's the one I want! ....
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| dsg
Join Date: Jun 1999 Posts: 528 Franklin, Maine
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1999-03-20 1857
Larry; Sometimes in life there are more important things than making or saving $$. If taking the loan out for 7 years means the diff. between ever getting the tractor or not, well I'd say if he can afford it and the kids won't starve, go for it. Probably the happyness it brings will well outway the extra $$ he spent.IMHO,David ....
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