Technically, insurance company is supposed to notify the lien holder if coverage lapses.
Sub-Compact Tractor
- Thread starter Jampy00
- Start date
Mahindra tractors generally have Mitsubishi deisel engines . They are just fine , the engine is not the weak point , its generally guys putting a front end loader on and thinking they bought full on construction equipment , not a small compact tractor . Tie rods and wheel bearings / axles take a real beating. We have one at our gun club for some snow plow and grading work and its fine , used with in its limits . Since they are selling a lot of them on price point you can get decent parts and servioce support.
I'm partial to Kubota as anything I've had to be involved with them has been pretty positive.
I'll think you find any machinery now thats financed will need to be insured. Theft is rare but happens, fire ect is a concern . Now that you can spend 50K on lawn toys , you can sort of see the financers point.
Silly seqway , one of my buddies does lease financing on equipment , he will lease nothing thats going into a mine. Try and repo a dumptruck 500ft underground in a salt mine.
I'm partial to Kubota as anything I've had to be involved with them has been pretty positive.
I'll think you find any machinery now thats financed will need to be insured. Theft is rare but happens, fire ect is a concern . Now that you can spend 50K on lawn toys , you can sort of see the financers point.
Silly seqway , one of my buddies does lease financing on equipment , he will lease nothing thats going into a mine. Try and repo a dumptruck 500ft underground in a salt mine.
Funny, thing. I looked into insurance for obvious reasons. Theft, fire, etc. as it is an expensive piece of equipment.
When preparing the online quote, it did not ask if product was purchased or financed. I now have insurance and again did not ask if purchased or financed. To be honest, I'm an idiot and never thought of insurance prior to my conversation with the dealership, but to be fair I am dealing with many things at the moment...
I got a grumpy letter a few months after I bought my last vehicle. Purchased just before moving and at all times it was insured as required but I didn't add finance company as a lien-holder in the insurance paperwork. Finance company mailed grumpy letters to old address. A quick call to insurance company to add them and it was all fixed. I am sure if I dragged it out they would have done something like calling the loan or grabbing the car.
