$16K repair bill

[TheOldHokie]

An individual must provide a reasonable use for purchasing Diadmaster.
You must attend training at a Kubota Industrial Engine dealer site (usually Anderson Industrial Engines).
You must pass the extensive test to be issued a license.
You must pay a yearly fee to renew your license and complete follow up training as required. So far this year I have been issued over 20 hours of on-line courses and 2 dozen tests.
Follow-up training may be in-person or online, you must pass any and all tests.
You are responsible for your use or misuse of Diagmaster.

Typically, most non-dealers with Diagmaster are rental companies or large fleet owners.

So effectively unavailable to owners and a real hassle if you are a local repair shop contemplating adding Kubota compact tractor owners to your clientele.

Dan

 

[NorthwoodsLife]

No discount. Your payoff amount is remaining principle. The balance includes remaing (unused) insurance premiums that will be refunded if you payoff the loan and coverage ends early.

Dan.

Got it. I think. I thought KTAC was for 5 years, independent from the loan.

So, paying off early would be a mistake.. If it ends my KTAC.

Or are there insurance premiums footed by the bank to insure the loan? That I am actually paying for?

 

[TheOldHokie]

Got it. I think. I thought KTAC was for 5 years, independent from the loan.

So, paying off early would be a mistake.. If it ends my KTAC.

Or are there insurance premiums footed by the bank to insure the loan? That I am actually paying for?

I am not aware of any insurance in the loan beyond KTAC. My understanding is if you payoff early you can obtain new KTAC coverage under new terms.

If you are going to keep the machine paying off early seems rather foolish in general. However I find myself in an interesting situation. I have 4 years remaining on my loan and i am looking at undergoing a double lung transplant in the next few months. I have contemplated paying off the loan so my wife would not have to deal with it should I depart this world sooner than hoped.....

Dan

 

[Moose7060]

I am not aware of any insurance in the loan beyond KTAC. My understanding is if you payoff early you can obtain new KTAC coverage under new terms.

If you are going to keep the machine paying off early seems rather foolish in general. However I find myself in an interesting situation. I have 4 years remaining on my loan and i am looking at undergoing a double lung transplant in the next few months. I have contemplated paying off the loan so my wife would not have to deal with it should I depart this world sooner than hoped.....

Dan

A little off subject but hope it all works out splendidly for you.

 

[fried1765]

I am not aware of any insurance in the loan beyond KTAC. My understanding is if you payoff early you can obtain new KTAC coverage under new terms.

If you are going to keep the machine paying off early seems rather foolish in general. However I find myself in an interesting situation. I have 4 years remaining on my loan and i am looking at undergoing a double lung transplant in the next few months. I have contemplated paying off the loan so my wife would not have to deal with it should I depart this world sooner than hoped.....

Dan

Is any sort of "loan insurance" available?

 

[Fordtech86]

A little off subject but hope it all works out splendidly for you.

same here as well!

 

[Elliott in GA]

If you pay down your loan to a low amount, you will have the advantage of a low balance and continued full KTAC coverage. It is what we did, and I just put a reminder/alert on my calendar to make the last two payments - several years from now. If you pay the loan off early, you lose the replacement and other coverages that the original KTAC provides.

 

[North Idaho Wolfman]

You all wanna talk loans and finance start a thread, yes some of this was pointed at the OP now it's gone past that.