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Old 03-27-2008, 12:09 AM
tb8100 tb8100 is offline
LawnSite Bronze Member
Join Date: Dec 2007
Location: TX
Posts: 1,627
exmark 1.9% financing...actually variable up to 21%??

haven't had a chance to verify this, but I heard that the new Exmark promotion for 6 months deferred payments and 1.9% for 36 months is actually variable up to 21% after the 6 month period. Is this true?
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Old 03-27-2008, 12:15 AM
Paulup Paulup is offline
LawnSite Senior Member
Join Date: Mar 2008
Location: Covington, Louisiana
Posts: 270
Standard procedure for these type of loans is that if you miss a payment, or don't pay it before the grace period(if you have one) your interest automatically adjusts to a set amount, in your case 21%. It could be totally different, but that is my guess.
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Old 03-27-2008, 12:20 AM
tallimeca tallimeca is offline
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Join Date: Jun 2006
Posts: 1,229

it's not variable up to anything. It's 1.9% FIXED. The 22% is the default rate. Same as any credit card or any revolving loan for that matter.
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Old 03-27-2008, 12:44 AM
newtostone newtostone is offline
LawnSite Senior Member
Join Date: Oct 2007
Location: NY
Posts: 681
Alright i just went over this today with my dealer but the way it works is having hte exmark card lets to get the promo rate of 1.9 for that purchase. Anything else you buy on that bard is at 22% or 13% above prime. and the defualt rate is like 28%.
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