Burn the mortgage!!!!

[RCW]

April 12, 2013, I took delivery of my BX2360 with FEL, MMM, snowblower.

The 0%/60 month financing, and the fact the dealer would take my JD 425 and attachments in trade helped grease the skids.

2 years and 2 weeks later, we can burn the "mortgage."

Been a great time so far, and it helped me meet the great bunch of guys on OTT!!

Just some pics from the last 2 years....

 

[sawmill]

RCW Congratulations. That's a great feeling ain't it.

 

[RCW]

It is.

The only thing that pisses me off is that I immediately got a call from KTEC Insurance. Coverage cancels upon early pay-off. WTF

The way I see it is that I paid 60 months worth of coverage in 24, so why should it cancel???

Of course, I haven't read the contracts....I'm sure the devil is in the details....

I know its covered by my Homeowner's, but it still sticks in my craw.

Again, I got to meet you guys - Priceless!!

 

[Drewdaman]

It is.

The only thing that pisses me off is that I immediately got a call from KTEC Insurance. Coverage cancels upon early pay-off. :

I agree, that's annoying - and for others in that situation, do you think it would be possible to pay off almost all of the balance, but leave a token amount, say $100.00, so the coverage wouldn't be cancelled?

EDIT: Nice pics, by the way, it's clear you're having a ton of fun with that machine!

 

[Dr Honda]

It is.

The only thing that pisses me off is that I immediately got a call from KTEC Insurance. Coverage cancels upon early pay-off. WTF

The way I see it is that I paid 60 months worth of coverage in 24, so why should it cancel???

Of course, I haven't read the contracts....I'm sure the devil is in the details....

I know its covered by my Homeowner's, but it still sticks in my craw.

Again, I got to meet you guys - Priceless!!

Yep... I bought the extra insurance, and after I read over everthing better (at home) I realized it was only good while "Paying" on the loan. Kind of shitty since you pay a fixed price for it. But, because of that... and the 0%... I tald the wife, there was no reason to pay it off early. I figure any extra $$$ in the budget can pay off something that I pay a finance charge on.


Regardless.... congrats on the pay-off.

 

[Paulemar]

If you paid off early, you may be getting a partial refund on the cost of that insurance.

 

[Grouse Feathers]

It is.

The only thing that pisses me off is that I immediately got a call from KTEC Insurance. Coverage cancels upon early pay-off. WTF

The way I see it is that I paid 60 months worth of coverage in 24, so why should it cancel???

Of course, I haven't read the contracts....I'm sure the devil is in the details....

I know its covered by my Homeowner's, but it still sticks in my craw.

Again, I got to meet you guys - Priceless!!

When I bought my tractor I was going to go with my homeowners insurance and not take the Kubota Insurance, but I found out the homeowners insurance only covers on my property. The Kubota Insurance covers everywhere and ended up being the same cost. Some of my snow blowing and road grading is on a right-of-way and shared private road. I had my agent ask the specific question and it would not cover. When the Kubota Insurance runs out I will have to decide on additional insurance or take the risk. Pretty low risk in winter I never saw a vehicle while removing snow. Slightly higher risk when grading, more vehicles and higher speeds. I am not sure how Michigan's no fault applies to an unlicensed tractor, but I may have to find out.
No idea how all this might effect you in New York or if you ever get off your property.

 

[RCW]

I used to mow an abandoned lawn nearby - something to think about.....

 

[jtausch]

It is.

The only thing that pisses me off is that I immediately got a call from KTEC Insurance. Coverage cancels upon early pay-off. WTF

The way I see it is that I paid 60 months worth of coverage in 24, so why should it cancel???

Of course, I haven't read the contracts....I'm sure the devil is in the details....

I know its covered by my Homeowner's, but it still sticks in my craw.

Again, I got to meet you guys - Priceless!!

here is their sitewww.ktacinsuranceagency.com,
from their faq section quote.....
Q- What happens if I pay off my contract with Kubota Credit Corporation, U.S.A early?

Your insurance through KTAC Insurance Agency will cancel at the time of pay off and the unused portion is applied to your current balance. You can choose to purchase a new policy at this time by contacting a representative at 800-348-5802.


3. If you have Kubota equipment not currently financed through Kubota Credit Corporation, U.S.A., we have an annual policy available for you.

 

[RCW]

here is their sitewww.ktacinsuranceagency.com,
from their faq section quote.....
Q- What happens if I pay off my contract with Kubota Credit Corporation, U.S.A early?

Your insurance through KTAC Insurance Agency will cancel at the time of pay off and the unused portion is applied to your current balance. You can choose to purchase a new policy at this time by contacting a representative at 800-348-5802.


3. If you have Kubota equipment not currently financed through Kubota Credit Corporation, U.S.A., we have an annual policy available for you.

Honestly, I just sent in multiple coupons per month until they were gone. So maybe I will get a refund for the remaining, like Paul said.

I thought about the off-site thing, and think I'll chance it. I didn't have to mow the vacant place up the road the 2nd half of last season.

 

[peterc38]

If you paid off early, you may be getting a partial refund on the cost of that insurance.

This is what happened when I paid mine off early.