In laymens terms, yes. Having just gone through the process, I can assure you that they don't actually replace your tractor. They buy yours back (including paying off the old loan) and you buy a new one as a whole new transaction from Kubota. The new one will get a new insurance policy, financing, etc. You can end up with a new tractor out of the deal but it's not automatic.According to my salesman and the two cases that I know of, it is a replacement policy. Any fix/repair up to and including a new tractor.
We're saying the same thing in two different ways but it's not technically a replacement policy. You have the option of walking away from your tractor with a partial payment and not replacing the tractor.
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