Trying to buy an L4701

[winesalot]

Finally decided to pull the trigger on an L4701 HST with FEL. I contacted the closest dealer which is about an hour away. I told them that I'd like to make the purchase and would like to apply for financing. A few days later they called and said I was denied financing and would have to pursue alternate financing. No explanation given but here was plenty of attitude. The wife and I are pretty big on being debt free and don't finance anything but our house. We do have a couple of credit cards with zero balances. I had a less than warm fuzzy feeling about the dealer so I decided to take a different approach. I emailed every dealer in WA state and a few in Oregon. I was amazed how many didn't bother to reply and, of those that did, how many were, shall we say, unmotivated in their response. I decided that if the salesperson that replied couldn't bother with some sort of 'we are here to help' attitude I would ignore them. I finally settled on a dealer that is about 3-3 1/2 hours away but seemed most interested in making a sale. I re-applied for financing and was again turned down. I asked to speak to the financing department for an explanation and, after a day or two, was called by someone at Kubota Financing in Texas. Turns out our home mortgage company had not been reporting our perfect home mortgage payment history to the credit bureaus so we had no credit history other than the credit cards which was not considered by Kubota because they are not 'like payments'. They asked us to provide 3 years worth of statements and would likely approve the loan.

I am trying not to hold a grudge but it really irritates me that the local dealer seemed indifferent where the second one was personable and friendly. They wanted to be helpful even after our financing denial. In the end they will get a sale and I will drive right past the local dealer when I pick up my brand new tractor.

 

[skeets]

I think a lot of dealers are like HD dealers, if you want it you pay for it if not go someplace we dont need your sale. And thats a true shame. Most of the urban type dealers get the homeowner tire kickers, and are more inclined to deal with them, than someone thats going to buy one work tractor, and not all the prettys that go with it. Just MHO but to many dealers just have that mind set that they really dont need you.
I wish you well with your new toy,,errrr tool I meant tool

 

[1970cs]

In your case you are what they call a credit ghost! If the all the facts were presented like you said, that we have a mortgage and I pay my bills on time.
Then shame on all the dealers for not making the call to Kubota credit.

All decisions come back with a name of the assessor and why the applicant was turned down for! i.e. slow or no pay, bankruptcy, insufficient credit or over extended.

In your case I would have made the call! Kubota credit will take the obvious co-sign and possible 10-30% if talked to by the dealer.

No way will they pass a slow pay or no pay and bankruptcy. Bankruptcy if beyond the 5 year mark and stellar credit within that same time frame may get by with 20% down.

I just bought a new truck, the salesman and I were new to each other. He asked me how much I owed on my 3 year old trade. I said "0" and I volunteered and before you ask about my house payment "it's paid for" He said you can buy anything you want and I won't take a deposit or check your credit. I know it's got to be great.

Pat

 

[scdeerslayer]

When I applied the sales guy entered everything in the computer and had an answer within minutes. At first I was denied, something along the lines of not having history with a loan that size. Well I had my truck, but it had been paid off for several years, and I'm still paying my student loans. I was kind of puzzled since my credit score at the time was 815.

The response said something about they would reconsider if I did something that neither I nor the sales guy knew what they were talking about. Apparently the dealers have some sort of instant message system with Kubota finance, so he asked what it meant. Whoever responded that time said that I was approved.

 

[captmikem]

Give Dans Tractor in battleground Wa a call 360 687 3000

They are Very good, Very helpful, and have great pricing. I have purchased two tractors and a bunch of compliments from them in the past 10 years and I highly recommend them.
Explain your situation and I feel sure they will do all that is possible to help you.

M

 

[Bayoudude]

I put down 20% and did the 84 month financing to get the note where I wanted. I had no mortgages at the time only cc and didnt have any problems. I love my L4701 HST. Favorite attachment is the land pride grapple. Sorry you had to deal with those issues. I looked at John Deere but the salesman never sent me quotes... went down the street to kubota


Sent from my iPhone using Tapatalk

 

[captmikem]

G
. I have purchased two tractors and a bunch of compliments from them in the past 10 years and I highly recommend them.

M

Think I meant to say Implements ....

 

[geoff]

Think I meant to say Implements ....

....That was a classic, spellcheck has had me in a pickle many a time.

 

[winesalot]

Good news, after showing them three years of mortgage statements with not a single late payment they approved us. Now I have to decide on some of the smaller details like which attachments do I buy so I qualify for the $1000 rebate.