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SW Iowa | Keep it rolling. Upgrade my machinery and storage. I am not ready to quit and become a cash customer. Been borrowing money since I started farming in 1977, and not about to quit now with all this cheap money avail. Just traded for a new 45' CaseIH field cult and new 31' CaseIH disc using Case's 0% first yr, 4.9% 5 yr payment program. And going to pull both with a Deere tractor. Yipee. I can remember buying my JD 4440 in 1981 for 16% interest. Still got it too.
My dad, rest his soul, once told me when I asked if it ever stops, and he said when they throw that shovel full of dirt on top of you it will. He liked to borrow money to buy land, then make pre payments in good years to pay it back. He bought land into his 80's that way. Without borrowers there would be scores of loan officers on the unemployment lines. We sure don't want that | |
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