Kubota Finance

[tinytot]

Having a Thai Fiancee and couple kids, I have decided to get a Kubota for my Fiancees father for his land, As the Kubota i would like to get is near Baht 600000, I am wondering if i can get finance being a falang and not residing in Thaialnd, I will have large deposit i guess at least %50 , So if anyone knows if i can get finance and what i need to bring in regards of documents, As we will be back in Febuary, We will be wanting to purchase from Surin area, If anyone has a email address of Kubota in Surin i can email and ask questions about finance or if someone can put me straight...Thanks tinytot

[Maizefarmer]

.......... yup, had a feeling this was coming. Can I try and tempt you away from Kubota finance: it's not cheap in the long run - it will add up and cost you, and if and when you sell the tractor, even within the first year of ownership - you will loose a large amount of money through the depreciation. I know 3 ex-pats who have been 100% happy with the Kubota tractor, but far from happy with what it ultimately cost to buy it on Kubota Finance. One of those 3 ex-pats was trying to sell his Kubota financed tractor on this forum about a year back.

Some points:

1) are you proposing to to take out the finance in your name, or your partners name - very important because this will determine ownership of the tractor - although strictly speaking the tractor remains the property of Kubota untill it's paid off, there is nothing to stop you from selling it if you wish, except that Kubota will then want to be paid the reamining balance immediatly - and the sale price will not cover the remaining balance. This is a rhetorical question - no need to answer

2) over what period of time are you proposing to take out the finance - 12 - 24 or 36 months (or longer)?

3) remember as I said in an earlier note - you are tied into the Kubota servicing plan - and it is EXPENSIVE, you'll get a shocker when you get the first service bill - they will load it up.

If in your name - you will need the deposit, which will vary dpeending on the time period over which the finance is taking out over. You will need you house doc's, bank statement, and visa (type) - anything but a tourist visa will normally do. The alternative is to take the finance out in your partners name - then her id is needed, house odc's again, and bank statement/details - but chances are understanding that it wil be you in the background paying the deposit and monthly instalments (although not on Kf contract), they wil not process a credit check on her to see if she can afford it. The larger the deposit you can pay, so much the better - soooo much the better!!

And thats about it really - and it's what makes the K/finance so "attractive" - they make it easy. They will try and sel lyou extended maintenence plan(s) and all sorts of add-ons like ploughs and other tractor extra's like option diff speed, higher rate hydrualic pump, and there are some other "performance" extras - stay away, these will add hugely to the finance bill. Buy the plough, the trailer, the front end blade (they salesman will be reccomending the front end blade very enthusiastically!) - but it all privately!

Ask to see the full terms of the contract - before committing yourself: if in Thai scan it in and send to my message box - I haven't seen one now for a few years. I'll read through it and give you a heads up on any fine print point I think you should be aware of.