Should you buy a tractor with 0% financing?

The "Low Rate" promotional financing advertised by tractor manufacturers might not be the best deal for you.

As a salesperson with 20 years of experience, I've helped THOUSANDS of people apply for financing on many types of machines. There's a few things everyone should know when they are buying a tractor or other piece of outdoor power equipment and considering financing.

Here's a list of tools and stuff we use around the homestead:

[javabean]

Only in America can a bearded guy in Carhart overalls legitimately explain purchasing tractors using credit. I love this country! Nice job, Micah!

[georgefair]

Thank You for explaining this in the easiest way possible. Take care.

[marshallbeckawilliamson]

Really appreciate your knowledge, common sense, and fairness! Thank you for doing these videos and helping us understand the process!

[randymcnealy]

Sweet!! Thank you. Excellent presentation of valid information.

[vdnsoxp]

first time watching this gentleman, well done, very informative

[dzmqgsi]

Great glad I bought my tractor from you and your dealership. Good to know someone i can count on when i have a question

[sekprepper]

Great video. It was very informative. It's always good to have "a friend in the business."

[jeromebecigneul]

Great video. wish I'd seen this last year.

[shgnofficial]

That is really helpful --Thankyouverymuch

[TimmyMoza]

Im 2 years into a 4 year zero percent on Kubota M4 and L3901 and z724…. Went all in on em and couldnt be happier using someone elses money… it made sense at the time and still does. Especially when they add insurance coverage on the machines while being financed… Even tho its probably a bit overpriced it still made sense in these financially unstable times…

[dagarbear]

Very good points. Not everyone thinks it through.

[ScottRoofwalker]

Well, this man is very intelligent. I feel like he doesn’t understand how fractional reserve banking works. If you did, 0% makes total sense.

[christianb]

Great video. I had a good 0% deal on my Bobcat Ct2025 with several implements all financed at 0%. It made the most sense to me, especially when I considered inflation over 7 yrs. Putting my cash elsewhere now made more sense.

[Campzzyzx]

This is Fantastic thank you. My mantra that I've adopted in sales and negotiating goes like this.
"Your price, my terms or Your terms my price."
If i can't make a deal like that I take my business to the next guy until I get someone willing.

[LittleCabin]

Bought my JD 2038R at 0% interest...needed it it right away, needed to minimize my monthly payments, and wanted it paid off within 6 yrs before we retire. All worked out ( but 5 yrs to go)!

[jarretolsen]

Though Dave Ramsey would disagree, I think it’s a great option and advantage. Our fixer upper home is at 3% interest, and bought it 2 years ago when things were better in the economy though I made less. I feel like with such a cheap house payment, and zero vehicle debt it’s smart. Especially when you do side business to offset or even totally pay the payment. I think even in two years if I needed to sell I could make my money back or even more than the price at the time of purchase.

[whtsxka]

Thanks for making this video to explain in more detail. Don’t know if this deal is going on still since its July??

[BS.-.-]

Early 2022 I was looking for a newer tractor to replace my 30yr old machine. I looked into alot of new machines and didnt care what color it was. There was only 1 brand (kioti) who was offering 0% financing. The thing is there machine price was higher if you took the 0% vs a 2-4% interest loan. So it was really never 0%...they just added the intrest to the machine price. Well I ended up buying a bigger machine that was 12yrs old with cash and truly 0% intrest.

[kidsythe]

i bought a Kubota, 60in cutter, and loader last week. 0 down, 0%, 84 months with a catch. you could pay the dealerships loan cost thing so roughly 1100 upfront. but it saved interest cost over the years

[JackStrangelove]

0% financing is great. I went that route and saved thousands on my tractor. That was around 2019. The company I bought from used it to sell in a sluggish economy. Just make sure you are stable to make the payments.