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Old March 30th, 2020, 04:06 PM   #1
roll-bar Bob
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Default What a kick in the nuts.

I have been saving for a new tractor for a while now, I was weighting till spring to pull the trigger. Now that spring is here I have the cash in my hand to do this but it would kill most of my nest egg and given the times we live in I don't think I should be pulling 30k out of my nest right now.

So option one spend $70 a month for insurance take out a loan ( pay some interest ) to get the tractor right now and pay it all off in a few months when the dust settles.

Option two pay cash and play on the farm for the next few months without a care in the world.


I have been extremely close to my goal of buying a 50 Hp 4x4 tractor several times in my life but for some reason or another shit always comes up and I slowly see that goal get pushed further down on the priority list.




Thoughts ????








https://www.sherlockequipment.com/pr...model-xr4150h/


this is the one I have picked


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Old March 30th, 2020, 04:09 PM   #2
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Why would the insurance be that expensive?

That's a tough decision, I know I have not been spending right now.
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Old March 30th, 2020, 04:25 PM   #3
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That is one sweet tractor. Pull the trigger and do the loan thing and pay it off come summer time.
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Old March 30th, 2020, 04:33 PM   #4
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For what it is worth, sometimes the financing give you more bargaining power. They don't need to know you will pay it off in a month or two.
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Old March 30th, 2020, 04:40 PM   #5
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For what it is worth, sometimes the financing give you more bargaining power. They don't need to know you will pay it off in a month or two.
Actually you should specifically NOT mention paying it off in a month or two if you're going to use financing to negotiate. Most loan contracts have a buy back clause that requires the business to pay back the money they receive from the contract if its paid off before a given time. If you tell them you're going to pay it off almost immediately they will likely try and bump your percentage by a point or two.

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Old March 30th, 2020, 06:08 PM   #6
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Id wait a month or so. Id say theres gonna be some great deals on big purchases coming soon and 0% financing on a lot of stuff But a man wants what a man wants... now!!!!!!


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Old March 30th, 2020, 07:38 PM   #7
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I'd love to have a tractor like that.
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Old March 31st, 2020, 05:14 AM   #8
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I'd go with the loan and go get it now. You want it, you have the time to use it, get it and enjoy and pay it off in the next several months.
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Old March 31st, 2020, 07:32 AM   #9
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Go with the loan, less out of pocket cost right now, then later this year pay it off. Even if you don't end up paying it off this year, still can the next year or the next.

A tractor like that is a great investment.
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Old March 31st, 2020, 08:10 AM   #10
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Go shop around, don't tell them you have cash in hand. They get a kickback on the financing.

Right now you should be able to negotiate extras as a discount. I'd look hard at Massey and Deere right now also.
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Old March 31st, 2020, 12:36 PM   #11
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Quote:
Originally Posted by Mihlfeldl2005 View Post
Actually you should specifically NOT mention paying it off in a month or two if you're going to use financing to negotiate. Most loan contracts have a buy back clause that requires the business to pay back the money they receive from the contract if its paid off before a given time. If you tell them you're going to pay it off almost immediately they will likely try and bump your percentage by a point or two.

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+++ a lot

Buying anything like this (cars or trucks especially), you let the dealer assume you are going to finance. Don't even answer questions about finances directly other than your monthly payment goal. At the very end, with the price in writing, you pay in "cash". Bottom line is they make more money from you financing.
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Old March 31st, 2020, 01:02 PM   #12
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Dad has the Nortrac version of that. Get the wider R-3's his tires like to sink in soft stuff. He's gotten stuck a hand full of times now because he doesn't know when to stop.
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Old April 1st, 2020, 07:17 AM   #13
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I would personally wait it out. On the other side you can get pretty awesome deals on used equipment and can get a pretty damn good farm tractor for under $10k


I also assume if this makes the economy spiral down, there will be even better deals to be had and your $30k cash in hand will go even further if your own personal situation doesn't change.
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Old April 1st, 2020, 07:28 AM   #14
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Quote:
Originally Posted by 9T4YJ View Post
+++ a lot

Buying anything like this (cars or trucks especially), you let the dealer assume you are going to finance. Don't even answer questions about finances directly other than your monthly payment goal. At the very end, with the price in writing, you pay in "cash". Bottom line is they make more money from you financing.
* they make more money when you finance from them.

Never finance through your dealer
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Old April 1st, 2020, 08:08 AM   #15
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Quote:
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* they make more money when you finance from them.

Never finance through your dealer
Yep. I didn't realize this until we bought our camper back in 2016. We already went to the CU and got pre-approved before we started shopping. The finance guy at the RV dealer seemed ticked off about it. I found out why later...
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Old April 1st, 2020, 11:05 AM   #16
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I have tried and tried and tried to find "good used" tractors and it has always came down to I don't want someones problems or neglected equipment. If it is in great shape most people want "NEW' prices or maybe 2k less than what I can get a new one for with a 6 year warranty



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Old April 1st, 2020, 11:30 AM   #17
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I have tried and tried and tried to find "good used" tractors and it has always came down to I don't want someones problems or neglected equipment. If it is in great shape most people want "NEW' prices or maybe 2k less than what I can get a new one for with a 6 year warranty



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I was in the same boat when I bought my enclosed trailer and my zero turn. People wanted 5k for beat to crap stuff. For $1k more I bought new with a warranty.
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Old April 2nd, 2020, 07:28 AM   #18
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Well shit, Just one more monkey wrench in the mix, after looking at everything on the market 5 or 6 times, I had come to the conclusion the LS was my best option given all my needs. Until the night before last, when I stumbled into a FB post advertising the TYM tractors and there is a dealer 3 miles from my work. So yesterday's lunch included a tractor test drive. I think I am in love, Now the biggest factor that is swinging me to the TYM is every other tractor on the market is a common rail diesel with a ton of wires and sensors all over everything including the new exhaust BS. On the other hand the TYM is a miniature knock off of the old school Cummins with a Bosch injector pump on the side of it this thing only "NEEDS" 3 wires to run it. Pound for Pound everything else is a exact match. I will keep you guys updated as this plays out.


https://www.tractorhouse.com/listing...ym-t574hst-cab



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Old April 2nd, 2020, 08:05 AM   #19
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I like red
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Old April 2nd, 2020, 08:10 AM   #20
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Quote:
Originally Posted by roll-bar Bob View Post
I have tried and tried and tried to find "good used" tractors and it has always came down to I don't want someones problems or neglected equipment. If it is in great shape most people want "NEW' prices or maybe 2k less than what I can get a new one for with a 6 year warranty



RBB
There is a really nice John Deere 2440 (60hp) on FB marketplace in Ottawa lake for $12k


Also a very nice JD 1530 (45hp) for $5500 on FB marketplace in Perry


Just a quick look and there is some quality equipment out there to be had, but I highly suspect that in another month there will be many more deals..
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