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The Water Cooler
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What’s the catch with 84 months 0% APR?
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<blockquote data-quote="OK Corgi Rancher" data-source="post: 4073237" data-attributes="member: 45773"><p>The "catch" is you generally pay a little more for the tractor with equipment. You might not get as good a price as you might by paying cash. Aside from that, at least from John Deere, there is no catch, really.</p><p></p><p>I'm on my second 0% interest tractor. I got what I thought was a pretty fair deal and chose to use their money instead of mine. The downside is the payment every month. I don't like it. I paid the first one off after only about a year. Can't do that just yet with the one I have now because we're doing some other improvements to the property and need our cash.</p><p></p><p>Another "catch" might be that Deere makes you buy insurance on the tractor. But it was something like $820 for the entire term of the loan and they refund a pro-rated amount if you pay the loan off. When I went to buy the second they didn't even do a credit check. They looked at the first loan and came back and said I was approved for $100,000 loan! They might think I'm good for that much but I know better!</p></blockquote><p></p>
[QUOTE="OK Corgi Rancher, post: 4073237, member: 45773"] The "catch" is you generally pay a little more for the tractor with equipment. You might not get as good a price as you might by paying cash. Aside from that, at least from John Deere, there is no catch, really. I'm on my second 0% interest tractor. I got what I thought was a pretty fair deal and chose to use their money instead of mine. The downside is the payment every month. I don't like it. I paid the first one off after only about a year. Can't do that just yet with the one I have now because we're doing some other improvements to the property and need our cash. Another "catch" might be that Deere makes you buy insurance on the tractor. But it was something like $820 for the entire term of the loan and they refund a pro-rated amount if you pay the loan off. When I went to buy the second they didn't even do a credit check. They looked at the first loan and came back and said I was approved for $100,000 loan! They might think I'm good for that much but I know better! [/QUOTE]
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What’s the catch with 84 months 0% APR?
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