I should be taking ownership of my first Kubota next week (B2301). I paid a down payment and financed the rest for 0% interest. As I was looking around the internet for Kubota reviews i came upon several of people saying they missed a payment somehow and they were being charged interest for their loan now because of it. I thought maybe it was just a fluke but turns out there are a few reviews that said the same thing. My question is, has anyone heard of this and know what happened? I want to make sure I don't make the same mistake. If it is just a matter of someone not making a payment and missing their due date I'm not worried about it but if there is something sketchy going on I'd like to know. Has anyone had experience with this?
Is Kubota credit sketchy?
- Thread starter jgregory2010
- Start date
jmf78
Member
Equipment
BX23S W/ Factory Deluxe Cab, 60" MMM, 60" BX-2612 Snow Blade & BX-2816 Blower
I believe that is part of the deal. It is 0% financing providing you meet your end of the deal and make the payment on time. Once you miss or make a late payment, you'll face finance charges.
This was my experience: Could not set up my account for over 30 days, talked to Kubota credit and they said it took some time to get it in the system. I kept my salesman in the loop with my communications. Kubota credit assured me there would be no penalty, they even said I could mail a check for the first payment but I wanted a consistent trail of auto payments from my bank. I finally was able to set up the account, over 30 days, and was not penalized and the rest has gone smoothly.
Not much experience with it but, no problems here. Used it for our little BX package with no issues of any kind. By preference (I think we had a choice), our loan was set up for monthly auto-pay. I would not hesitate to do it again.
On Edit: The previous posts refreshed my memory. We had a finalized deal but had to wait 6-8 weeks for components to come in before a half day drive to the dealership. I complained to Kubota Credit when they took a payment before we took delivery of the goods. They apologized for the mistake so I told them to keep it. Just retires the loan 30 days earlier than anticipated...
On Edit: The previous posts refreshed my memory. We had a finalized deal but had to wait 6-8 weeks for components to come in before a half day drive to the dealership. I complained to Kubota Credit when they took a payment before we took delivery of the goods. They apologized for the mistake so I told them to keep it. Just retires the loan 30 days earlier than anticipated...
Last edited:
I figured that part was true, thats common. I just wanted to make sure there wasn't some weird rule about when the first payment is due since thats the one they all missed. If it really is they just missed the payment then i am good. I just want to make sure it isn't due the day i get the monthly statement or anything like that.
I've been a day or 2 off. no problems. I'm sure if you go 30 days late there is a penalty. This is common on many finance contracts.
jmf78
Member
Equipment
BX23S W/ Factory Deluxe Cab, 60" MMM, 60" BX-2612 Snow Blade & BX-2816 Blower
I get a reminder the week before. The payment is always due the same day of the month for me. Pretty easy to account for.
Thank you, that makes me feel better. I have a feeling these people that are complaining just irresponsibly didn't pay their bill on time and were shocked when the interest was tacked on.
North Idaho Wolfman
Moderator
Staff member
Lifetime Member
Equipment
L3450DT-GST, Woods FEL, B7100 HSD, FEL, 60" SB, 743 Bobcat with V2203, and more
I'm pretty sure it says right in the contract that if you miss a payment they have the right to charge you interest from that point forward.
You don't pay and they charge interest, nothing sketchy about that, you did sign the contract under those terms.
You don't pay and they charge interest, nothing sketchy about that, you did sign the contract under those terms.
85Hokie
Moderator
Staff member
Lifetime Member
Equipment
BX-25D ,PTB. Under Armor, '90&'92-B7100HST's, '06 BX1850 FEL
I too mailed my FIRST payment in, earlier than I should have ....just in case.
THEN I set up the autopay online - I get an email right before it is taken out, and it is done every month, of 60.....I have 4 more left!
Never had a problem with them. The salesman warned me about that and I made my first and second payment as soon as I got my payment info from Kubota, then setup auto pay to make a 1/4 of a payment every week. 0% interest is almost like OPM! (Other People's Money). NOTHING SKETCHY ABOUT IT.....
Also, look into their accidental mishap insurance. It's cheap enough and covers most forms of the stupidity that I find myself akin to
Also, look into their accidental mishap insurance. It's cheap enough and covers most forms of the stupidity that I find myself akin to
^^^Exactly my experience. I have had a previous 0% loan through Kubota, made my payments on time with autopay and never a problem.
Nothing sketchy at all. Same thing in life, you mess up and you pay for your mistakes. Ask my ex-wife!
Pat
Pat
If you pay 1/4 of a payment every week you'll get it paid off early. There are 4 1/3 weeks in a month.Never had a problem with them. The salesman warned me about that and I made my first and second payment as soon as I got my payment info from Kubota, then setup auto pay to make a 1/4 of a payment every week. 0% interest is almost like OPM! (Other People's Money). NOTHING SKETCHY ABOUT IT.....
Also, look into their accidental mishap insurance. It's cheap enough and covers most forms of the stupidity that I find myself akin to
Congrats !! jgregory...enjoy your new toy. (and below when I say "you", I don't mean you specifically jgregory)
I have a real problem with those people that leave negative reviews or bash a company simply because they "didn't get their way" and refuse to take ownership of THEIR mistake, thereby blaming the company (now if a company is at fault, fine - they too then need to own it)
If the contract says, if you miss a payment the 0% deal is off and you will be charged interest -- and you miss a payment ? GUESS WHAT, ITS YOUR FAULT. Kubota is running a business, they are entitled to make a profit and you are supposed to READ what you are signing up for and if you don't follow it they are entitled to the remedy outlined in what you were supposed to have read. Don't like it? - then pull out your checkbook and pay cash for it.
So enough soap boxing and to actually answer the question: I have used and continue to use Kubota credit to enjoy the 0% offer - I make my payments on time through an automated pay method and have not had any issues.
Last edited:
Also, look into their accidental mishap insurance. It's cheap enough and covers most forms of the stupidity that I find myself akin to [/QUOTE]
I bought my first two Kubota's with Kubota Credit with no problem, then when I went to buy my current L3560HSTC, they told me I HAD to buy their insurance. I refused and used my home equity loan to buy it. The insurance cost was more than the interest on my equity loan.
[/QUOTE]I bought my first two Kubota's with Kubota Credit with no problem, then when I went to buy my current L3560HSTC, they told me I HAD to buy their insurance. I refused and used my home equity loan to buy it. The insurance cost was more than the interest on my equity loan.
Thanks everyone for your replies. I figured it was just people trying to blame others for their irresponsibility I just wanted to see if anyone knew something about it that I didn't.