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exmark 1.9% financing...actually variable up to 21%??

Discussion in 'Lawn Mowing' started by tb8100, Mar 26, 2008.

  1. tb8100

    tb8100 LawnSite Bronze Member
    from TX
    Posts: 1,627

    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?
  2. Paulup

    Paulup LawnSite Senior Member
    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.
  3. tallimeca

    tallimeca LawnSite Bronze Member
    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.
  4. newtostone

    newtostone LawnSite Senior Member
    from 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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