Financing through Bank

SteveBX23

New member

Equipment
BX23S
May 23, 2021
22
6
3
South Jersey
Trying to see what kind of experiences people have had going through personal/private banks to secure financing for a tractor purchase.

I currently have a BX23S, but do day dream often of upgrading to perhaps an L25 or 33. I see great deals now and again through private seller that get my mind going, but am currently strapped into my BX.

What other routes have people gone through in “upgrading”?
 

je1279

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LX2610 w/ 60" MMM, LP 72" FB, Wicked Tooth Bar & 55" Grapple and Woods 60" BB
Dec 6, 2020
604
322
63
Upstate NY
If the used price is within a few thousand dollars of the new price I will always opt for new. With the 0% financing and warranty it just makes sense. As for upgrading, you will make a substantial amount more on your BX selling it yourself vs. trading it in. If you purchase through a private seller, just make sure to inspect it, test it and make sure all of the scheduled maintenance was completed. If it's a newer model it may still have some remaining powertrain warranty also. I've never financed a tractor through the bank but if the right deal came along at a low interest rate, I would consider it.
 
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JimmyJazz

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Equipment
Steiner 425
Aug 8, 2020
381
167
43
Pittsburgh, Pa
I just bought a B2601 and financed it with the dealer. The process took less than 10 minutes to secure 0% financing. Why would you consider anything else. Maybe I don't understand your question.
 

Impala

Member

Equipment
B2601
Jan 16, 2021
41
30
18
WI
Kubota has had smoking deals through their financing for 2 quarters in a row now. Won't find it cheaper. My B2601 was 0% with cash back too. 1st time having a tractor loan but 0% is 0%.
 
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Impala

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B2601
Jan 16, 2021
41
30
18
WI
Plus at least in the midwest I can get a new tractor cheaper or close to the price of a used one. Looked for a used 1 for a year before giving up and going new due to the price.
 

SteveBX23

New member

Equipment
BX23S
May 23, 2021
22
6
3
South Jersey
I have the Kubota financing with my BX from the beginning of last year. My question pertains to upgrading, assuming through having to go through a bank. BUT, selling my machine out right, to then do a whole new deal I guess is an option. Like I said, an L series is what my mind wanders on. I love my BX more than anything, but there are times I wish I had more power, especially in the form of lift capacity
 

Fordtech86

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L3200,la525,LP 5’bushhog,LP 5’disc,LP boxblade,2bottom plow,40 gal sprayer
Aug 7, 2018
1,852
519
113
Pineville,LA
I don’t have the experience directly, just what Ive read....It seems most banks won’t finance a tractor (like a vehicle) due to lack of title. Not a very secure loan. Possibly could get a personal loan with other collateral, but at what rate (I don’t know). Likely some specialty lenders for farm equipment that will loan the money, but under what circumstances I dont know either.

For an easy upgrade, trade the bx at the dealer for the L. Yes you won’t get/make money on the bx, but you wont have to wait and you can get the 0% most likely on the L.

Could try to sell bx on your own, deal with tire kickers, insufficient funds etc or get lucky and find a buyer with cash in hand 🤷‍♂️ Then deal with clearing current Kubota loan (trading at dealer would make that a non issue most likely).

You are then in the spot of getting the new tractor. Looking used? Seems cash is king for used tractors. If financing is needed seems new through Kubota is the best route.

Not facts, just what I have gathered from here and my experience in the auto world.
 

UpNorthMI

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L3200, L3901, MX5800, SVL75-2, KX040
May 12, 2020
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Up North, MI
Best solution will be sell BX privately, pay off the financing, buy new L series on 0% deal. I really like my L series, great capabilities. Life’s short make it happen if you can.
 
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PaulL

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Equipment
B2601
Jul 17, 2017
945
212
43
NZ
Depends if you can afford overlap (buy new L, then sell BX), or alternatively if you can live with a gap (sell BX, then buy L and wait for it to arrive). If you can't afford the overlap, and can't live with a gap, then trading with the dealer is attractive.
 

Impala

Member

Equipment
B2601
Jan 16, 2021
41
30
18
WI
Who knows with the current market maybe the dealer will do you ok on the BX. Otherwise the used market is hot and you shouldn't have a problem selling it. Just make sure you can find what you are looking for new before you sell. There can be a waiting period...
 

je1279

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Equipment
LX2610 w/ 60" MMM, LP 72" FB, Wicked Tooth Bar & 55" Grapple and Woods 60" BB
Dec 6, 2020
604
322
63
Upstate NY
That was the struggle that I had. At the time, the dealer offered me $1,200 for my Deere X585 garden tractor with hydraulic plow that I ended up selling privately for $6,000. The problem was I sold it at the end of October and my LX2610 didn't arrive until mid December.
 
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Fordtech86

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L3200,la525,LP 5’bushhog,LP 5’disc,LP boxblade,2bottom plow,40 gal sprayer
Aug 7, 2018
1,852
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Pineville,LA
Kubota has had 0% financing for at least the past 4 years that I have been looking. Its not new and likely not going away. The offers change quarterly I believe. It does change from model to model and length of terms (60-84 months). None of this means its a smoking deal, its a seller market right now, prices are at a premium.
 
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SteveBX23

New member

Equipment
BX23S
May 23, 2021
22
6
3
South Jersey
Kubota has had 0% financing for at least the past 4 years that I have been looking. Its not new and likely not going away. The offers change quarterly I believe. It does change from model to model and length of terms (60-84 months). None of this means its a smoking deal, its a seller market right now, prices are at a premium.
Good point.

Anyone have information on what an L2501 w/FEL+Backhoe is priced at new?
 

BAP

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2012 Kubota 2920, 60MMM, FEL, BH65 48" Bush Hog, 60"Backblade, B2782B Snowblower
Dec 31, 2012
1,908
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New Hampshire
Good point.

Anyone have information on what an L2501 w/FEL+Backhoe is priced at new?
All you have to do is to go on the Kubota website and choose the build your own feature and get your answers