PhysAssist
Elite Member
- Joined
- Aug 22, 2011
- Messages
- 2,635
- Tractor
- Kubota B2320
Hi All,
Our 2011 B2320 will soon reach its 5 year anniversary of service, and be paid off, and at the same time our initial KBPP which was mandatory to cover it during the finance period will expire.
We aren't 100% sure whether we want to re-up with the KBPP or not, but we have been in contact with them and they want to lower the amount of coverage from the $15K and change [our purchase price] which they were originally covering it for down to $13K, which they estimated would cover the depreciation of its 5 years and 250-ish hours of lost "newness".
We are still thinking about just setting aside an amount equal to their premiums in an "untouchable" interest-bearing account rather than paying it out to them, but we still have a couple of weeks to figure that out.
My question for you is whether you think the approximate $2K decrease in value for depreciation is a fair figure.
I haven't seen any comparable used B23230's on CL or the swap sheet, so I have no idea where else to find out this information.
There isn't any "Blue Book" for tractor values, is there?
Thanks in advance,
Thomas
Our 2011 B2320 will soon reach its 5 year anniversary of service, and be paid off, and at the same time our initial KBPP which was mandatory to cover it during the finance period will expire.
We aren't 100% sure whether we want to re-up with the KBPP or not, but we have been in contact with them and they want to lower the amount of coverage from the $15K and change [our purchase price] which they were originally covering it for down to $13K, which they estimated would cover the depreciation of its 5 years and 250-ish hours of lost "newness".
We are still thinking about just setting aside an amount equal to their premiums in an "untouchable" interest-bearing account rather than paying it out to them, but we still have a couple of weeks to figure that out.
My question for you is whether you think the approximate $2K decrease in value for depreciation is a fair figure.
I haven't seen any comparable used B23230's on CL or the swap sheet, so I have no idea where else to find out this information.
There isn't any "Blue Book" for tractor values, is there?
Thanks in advance,
Thomas