What’s the catch with 84 months 0% APR?

[Pstmstr]

The OP for this thread seems like a responsible person who thought out the purchase and made a rational decision for them. Many people buy stuff they don’t need all because it was “zero% “. They sometimes find themselves in financial difficulties as a result. I talked to a girl this week who got a 0% credit card to pay off some other debt and her 0% is expiring in September with a huge remaining balance. Some people use credit responsibly and some don’t. No one goes into debt thinking they will be unable to pay it. There is risk involved whether anyone wants to admit it or not.

 

[OK Corgi Rancher]

That 0% will revert to 20% or higher if your 1 day late paying the balance.
That is usually in the fine print, and they charge deferred interest back to day 1.
Why does anyone need a loan, it just means your too broke to buy something you want...
The borrower is a slave to the lender.

That post is so full of bulls**t I can smell it...

So, "no one" ever factors in the risk of a loan. Every single person who enters into a loan agreement has never considered the risk. Furthermore, there is a 100% risk the borrower will default, be unable to pay the loan, or whatever. So every single loan will wind up in default one way or another.

Obviously you've never taken out a loan on anything. Never made a charge on a credit card (that is a loan, after all). Never had a home mortgage.

Simply amazing. Us mere mortals should all aspire to your level of financial genius.

 

[Preacherman]

Depends on the amount and amount of time they give you at 0%.

Until the balance is paid off.

 

[Roy14]

If you’re referring to kubota’s financing options specifically, they have a cash price and a finance price, and the cash price is several thousand lower. You pay your interest one way or another, they’re not going to lose money to make a deal.

That being said, Kubota offers excellent insurance with that finance option and makes it worth financing IMO. They cover almost everything except someone tampering with your fuel. It’s sort of like a bumper to bumper warranty that also covers theft, fire, and even body damage if I remember correctly. You’ll have to verify this with your salesman.

Last I heard Yanmar and Mahindra have some stellar warranties as well. Their resale value will never be as high as a Kubota though, the orange paint has earned its reputation as far as their small and mid size tractors go. Their skid steers and excavators aren’t as well executed, but there’s definitely worse options out there.

 

[Pstmstr]

Until the balance is paid off.

Still depends on the balance, minimum payment required, and length of the loan. For example, a $10,000 balance paid in 12 months would be about $834 a month. You’d save $1500 by paying cash up front or almost the equivalent of 2 months in payments at 0%. As the amount gets larger and terms longer you can probably get down to earning more interest IF you have the cash to invest. If the hospital will accept small payments over a long time then obviously the advantage increases. With medical debt a lot of time it isn’t reported on your credit report unless the hospital talked you into getting a 0 percent loan to pay their bill.

 

[OHJEEZE]

I think JD is offering the 0% financing right now WITH $2300 discount for rewards members on some compact tractors...It was in an email that I just read the subject and deleted so I didn't read the details. Joining their rewards program doesn't cost anything...be a good time to buy.

Dont forget to tell the tractor dealer you expect 20% off sticker plus the financing deals or no sale!

 

[Cold Smoke]

As far as the finance company is concerned that note is the equivalent of cash in the bank. They can use those contracts just like cash for investment or asset construction to add to their base. They’re making money at 0% to you.

 

[Bigdawg90]

Shift solenoid went out on my Duramax so they’re delivering it to me tomorrow morning. Can’t say enough about the dealer out in Stillwater.

The guy never once tried to sell me to a bigger machine when I said this is what I wanted. There was no hassle or anything. He just beat the helk out of the other dealership offers. And then gave me a good deal on Rimguard, the landpride 1860 and the box blade.