Kubota Credit

Hfrs7 · Dec 12, 2019

Anyone having trouble with payments to Kubota Credit the last few months. I’m getting calls and letters saying they haven’t got my monthly payments since September. I have the payment history printout from KCC and from my bank. I’ve shown where none have been missed and still they tell me I’m past due but refuse to tell me when and why. I had one representative tell me they have a new accounting service/system and it had a “glitch” in it around September.
I’m at a loss for words here. Been doing business with KCC for many years and never had a problem.
Suggestions, comments, experiences?

DustyRusty · Dec 12, 2019

Talk to your selling dealer, and explain what is going on. Bring all your documentation and have him copy it. Never give up the originals! He should be able to resolve the issue, and make sure that Kubota Credit hasn't reported any erroneous information to the credit reporting agencies. Once a mistake hits your credit report, it can be a nightmare to have it corrected and removed.
I would also send a copy of the bank printout showing you made all the payments on time to Kubota credit by registered mail. Inform them that if they don't correct the situation immediately, that you will be filing a complaint with your state's department that regulates lenders. This should get their attention to correcting the mistake.

D2Cat · Dec 12, 2019

Are you sure the calls and letters are from Kubota Credit? Maybe someone is scamming you, and wanting you to pay them.

mdhughes · Dec 12, 2019

We had a problem back in July of 2015, they called to tell me we didn't make a full payment. Turned out that they applied our payment to someone else and we got their payment. Other than that everything has gone fine. Paid off the load this month.

DeepWoods · Dec 12, 2019

I have two loans with them, one for my tractor, and one for the snowblower. Both are set up to automatically withdraw the appropriate amounts on the due dates. I have noticed that Kubota sometimes applies the money to my Kubota accounts BEFORE the withdrawals are taken from my bank account. I double check all of the numbers each month, and so far, everything has worked out. right.

SidecarFlip · Dec 12, 2019

Interesting. My wife bought the Sidekick 5 months ago and has never received a coupon book. She has, however, made every payment on time and my dealers calling KCC hasn't produced a payment book yet and My wife calling KCC has only resulted in reaching a voicemail and them returning her call, telling her that a coupon book is on the way. No book yet and it's been going on for a couple months now.

We have really good credit and it was a farm purchase but I told her to quit making payments and then maybe they'd get their poop together.

Kind of dismayed in their less than stellar performance.

Don't have those issues with New Holland Credit or Ag Credit Direct. In fact, both bill me quarterly, I make a payment and then they send me an invoice telling me I paid. I realize the Sidekick is on a monthly cycle but we could have made it quarterly as well. Maybe I should have.

Strange way to conduct business.

Tornado · Dec 13, 2019

I pay all my payments online at their website. I set up automatic payments, and so far havent had any issue with payments.

I did notice however the last 2 or 3 months however they are reporting the incorrect balance on the account to the credit bureaus. I use a credit monitoring service so I can see what they are reporting. They are reporting my balance as being about $2,000 - $3,000 lower than what it actually is. I have no idea why that is. Ive been watching it but so far havent done anything, hoping it will correct itself in a future report from them to the credit bureau's.

EDIT: I went and looked at this again just now. Im actually showing no payment activity in my credit report on Kubota since September, although my balance has adjusted since then. I have seen stuff lag a little in my credit report before though so It hasn't alarmed me just yet. My online account at Kubota's website still shows my payments all going through fine, full payment history looks right. They are really dragging in reporting to the credit bureau's though.

Jchonline · Dec 15, 2019

No issues for me. Payments clearing and no calls as of yet.

SidecarFlip · Dec 15, 2019

Our issue is simply this.. If we paid off the side bi side early, we have no idea of the payoff amount not do we have a clue as to what the last payment date is because we have never received a coupon book.

I don't pay electronically on any farm related loan because we depreciate the equipment and out accountant needs the payments made in hard copy to accure the depreciation schedule.

This is a business for us.

Hfrs7 · Dec 15, 2019

Here is the latest as of Friday Dec. 13. Kubota sent me their printout of my payments. The payments made equal the months on the loan. I have no clue where to go from here. I will just keep making monthly payments until the loan matures and hopefully it will work out. If not I will argue my point at that time.
They have already told me there was a “glitch” in their “new” system. I guess I’m the glitch....lol.
Thanks everyone for the comments.....

Tornado · Dec 19, 2019

You dont have to pay online to view your account online. The online account system shows a pay off amount and stuff.

I use online bill pay for everything. I like being able to log in and see ALL up to date details in front of me on an account. I watch my finances like a hawk. I would go crazy if I had to go back to paper statements and a check book. I like seeing my payments post, and seeing my balance adjusted properly, etc.

Im still having the issue of my kubota loan showing incorrectly in my credit report. No idea why that is wrong.

SidecarFlip · Dec 19, 2019

Whatever blows your dress up. I am the polar opposite. I want (no demand) a payment book which I have not get yet btw. Paper trail is important for the farm. it's a corporation and requires it for tax purposes.

FUSE · Dec 24, 2019

I know early this last summer when we did an equipment exchange (BX's for B50's) they were really behind with issuing payment booklets. We pay everything online so were able to monitor it all that way - they were on our online account within a couple weeks after the purchase. The booklets were literally over a month behind from our purchase date...We purchased a Sidekick in late September / early October: that payment booklet was delivered in a timely fashion...however it was registered almost instantly on the online account.

SideCar - a thought: just give your login credentials to your accountant, that is what we do (we are a corporation also) and its sooooo much easier as they can access whatever information they may need via the online system, and it usually doesn't involve any leg work on your end except granting permission...

SidecarFlip · Dec 24, 2019

Finally got the payment book today. Took 4 months. That is good service.

92merc · Dec 25, 2019

I've had my new bx2680 for 2 weeks now. My payment book showed up in the mail yesterday. I had already gone online and setup auto payments, so my book won't be used.

First payment is on the 4th. So we'll see how that goes.

Daren Todd · Dec 25, 2019

SidecarFlip said:
Our issue is simply this.. If we paid off the side bi side early, we have no idea of the payoff amount not do we have a clue as to what the last payment date is because we have never received a coupon book.

I don't pay electronically on any farm related loan because we depreciate the equipment and out accountant needs the payments made in hard copy to accure the depreciation schedule.

This is a business for us.

You can call kubota credit, after it asks for your account number you can a list of automated options. One is balance amount on your loan. The other is the payoff amount.

I always paid extra to knock the loan down faster and pay using online bill pay instead of payment books and a check. So I call about every 6 months to check the balance.

My pay off amount was 800 and change as of 3 months ago. January's payment will pay off my zero turn, so I'll call to find out the exact payoff amount.

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man00 · Dec 31, 2019

SidecarFlip said:
Finally got the payment book today. Took 4 months. That is good service.

Finally got my hats, only took 5 months

SidecarFlip · Jan 1, 2020

Daren Todd said:
You can call kubota credit, after it asks for your account number you can a list of automated options. One is balance amount on your loan. The other is the payoff amount.

I always paid extra to knock the loan down faster and pay using online bill pay instead of payment books and a check. So I call about every 6 months to check the balance.

My pay off amount was 800 and change as of 3 months ago. January's payment will pay off my zero turn, so I'll call to find out the exact payoff amount.

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With a principal only loan. there is nothing to be gained under Rule 53, no accrued interest because there is none. In the farm's case, only the principal is a deduction / write off.

Daren Todd · Jan 1, 2020

SidecarFlip said:
With a principal only loan. there is nothing to be gained under Rule 53, no accrued interest because there is none. In the farm's case, only the principal is a deduction / write off.

Last I checked, my statement was how to find out your payoff amount if you don't have a payment book, or don't use one. I never said anything about interest.

Secondly the difference between payoff amount and loan amount when using kubota credit and financed at 0 percent is insurance premium

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SidecarFlip · Jan 1, 2020

No, you didn't but I did and I did because the payoff amount on a 0 percent loan is no different than the payoff under a Rule 53 installment loan. There is nop rollback of finance charges because there isn't any.

I'm sure Kubota extracts their 'pound of flesh' on way or another however. Nothing is free, especially an installment loan.

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