Ferris--0% for 36 Months!!

Discussion in 'Lawn Mowing' started by ZER, May 15, 2004.

  1. ZER

    ZER LawnSite Member
    Posts: 17

    Just saw Ferris is offering a new retail finance promotion!!! 0% for 36 months.
     
  2. QualityLawnCare4u

    QualityLawnCare4u LawnSite Gold Member
    Posts: 3,758

    Where did you see this? My Ferris dealer could do no better than 9.9 last week, so I ordered a JD 737 at 5.9%.Must be something they just started?

    Danny
     
  3. TheKingNJ

    TheKingNJ LawnSite Senior Member
    Posts: 781

    is that for all dealers? i'm looking at getting a 3000is.
     
  4. ZER

    ZER LawnSite Member
    Posts: 17

    The promotion started today, I saw it on Lawnsite's sponsor's messages and announcements thread... Looking to buy that Cat Diesel with 4 wheel IS
     
  5. LynyrdSkynyrd

    LynyrdSkynyrd LawnSite Member
    Posts: 179

    Zer
    You must read the deatails on such offers very closely.
    0% for X amount of months can cost you a wad of cash if you are not careful.

    Some the uncollected precentage rate is built up over the set period and it will have to be paid in one lump sum or added to what is owed after the set period.

    In other words it is not collected during that 36 months. But added instead to the balance of what is owed.

    0% for X months is just a gimick to get you to buy.
     
  6. ZER

    ZER LawnSite Member
    Posts: 17

    L Skynyrd,
    Do the math. On a $8000.00 purchase I am saving over $1200.00 using a 0% for 36 months vs. a 9% rate by some other company.... The program reads 36 equal payments...
     
  7. LwnmwrMan22

    LwnmwrMan22 LawnSite Platinum Member
    Posts: 4,372

    Just to warn you, I run (2) Ferris IS-4000. They wil clump tremendously in wet grass, no way around it. The discharge chute is too small.
     
  8. ZER

    ZER LawnSite Member
    Posts: 17

    Didn't they discontinue the IS4000 to build the IS5000? Everything I hear about the IS5000 is the cut quality is excellent in side or rear discharge...
     
  9. LynyrdSkynyrd

    LynyrdSkynyrd LawnSite Member
    Posts: 179

    ZER
    Here is the fine print from a $0 payments and 0% interest for one year on Simplicity ZTR that has been running in the papers here.


    *Offer valid subject to credit approval through Shoppers Charge Accounts Co. on purchases between 1/1/04 and 5/31/04. No payments required (except insurance premiums if applicable).*Finance charges will be assessed from date of purchase, unless the total price and all related insurance premiums (if applicable) are paid in full within the promotional period.


    Read that closely where it states.

    Finance charges will be assessed from date of purchase, unless the total price and all related insurance premiums (if applicable) are paid in full within the promotional period.

    What is the interest rate if it is not paid off within that one year from the date of purchase?

    Just 24.5% accessed from the day that you purchased the mower. Where is your savings now?

    Read all of the fine print before you jump on the deal. Then go to your local bank and check on interest rates for a personal or other loan for the same amount that it would cost you to buy the machine.
     
  10. seb442

    seb442 LawnSite Member
    Posts: 34

    On 5-8-04 my Ferris dealer said that some new financing was going to start on 5-15-04. He did not know what it was at that time. I checked www.Ferrisindustries.com web site Thursday or Friday night and the 0% was posted at that time. I would think it would apply to all dealers. I did not see anything about 0 payments, just 0% for 36 months. I would make monthly payments even if it was not required. On plans that are 0 payments you do want to make sure you have it paid in full by or before the end of the plan or high interest will be added from day 1. I will check the web site again but I do not think the 0 payments pertain to this plan.

    I have also heard that the 4000 was discontinued, but it is still listed on their web site. In any case I think the 5000 was a model at the same time as the 3000 and 4000. I do not think the 5000 was made in place of the 4000.

    ZER: Where can you get the Ferris with CAT diesel for $8000. I would take one at that price. My dealer quotes those at 14K +
     

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