Hey cascadescaper, was wondering what kind of deal and what kind of financing you got on your cat 312? I am looking to buy/rent to own one?
Hey Steve, we got 36 months 0% interest with 10% down. I don't know if this deal is still going on, and I know it was only on excavators from 308CCR up to 318C. Originally, my dad thought it was zero payments and zero interest for 36 months, but it turns out it was just zero interest. That's alright, the payments make us realize our operating costs a little more, either way you're paying the same in the end. However, we did get zero interest and zero payments for 12 months on our 277B.
The thing that is too bad about 0% financing, they bill it into the price of the machine. So you think you are getting a great deal, but really, they've already jacked the price. Good luck with the new machine!
You never get a deal with the 0% down and low financing because 99% of the time you end up paying way more than what the machine is worth. Once the dealer has you by the gonads your stuck paying for a machine that is worn out.
I really didn't think $136K for a fully loaded 312CL with 3 buckets was a bad deal when Deere wanted $130K for a 120CLC without a thumb. If you do the math, at 6% interest you're paying almost $8K in interest on a $130K machine. I really don't think they'd try and hike their prices up by 8 grand just to try and screw you out of the interest anyway.
A friend of mine owned a Kubota dealer for a decade or so, he told me that all of a sudden the prices on certain lines went up substantially....then, coincidentally, a month or so later...that same line had 0% financing! They all do it, so its not like you got a bad deal, its just the way it works.
I suppose it's probably true, but if you have to bicker about $10K or so on a $140K+ investment that will easily produce twice or 3 times it's original cost in revenue, you should probably do something else. However, I feel that throwing money down the drain isn't a good move, but like you say, it's just the way it is so there's not much getting around it:bouncegri