May not mean nothing but....

[Farmerboy]

I just wrecked my 3215 TLB (see "Owning/Operating" link). The unit was financed (and subsequently insured) through Agricredit. If the unit gets totaled, I secretly wonder if it will end up on the Agricredit website.

 

[AchingBack]

I wonder if it will secretly wind up on the Agricredit website. And that is no secret

Yeah, we will all be waiting to jump on a wrecked tractor.

Are you saying Agricredit is giving you a brand new 3215?

 

[MessickFarmEqu]

so many JD golf & turf machines on there is because they were probably used to begin with, Deere is full recourse

Do they do full recourse for all used machines? Thats rough.

Funny that Agri-Credit does not just send the machines back to the selling dealer for resale. CNH / Kubota both bid take REPO's and bid them out to all the dealerships to see who gets it. We've gotten a few, but by no means do they end up being a bargin.

 

[Farmerboy]

Right now the dealer is working up a quote to repair the unit. However, if the amount to repair is too much, Agricredit may elect to "total" the unit. In which case, the policy requires either 1. replacement in kind, or 2. reimbursement of my investment (I put a substantial amount down on the unit).

The question about people standing in line for a wrecked tractor is exactly my point. Comments were made relative to the units on Agricredit's website being repo's. How can anyone be sure that they all are truly repo's and not rehabilitated units? It's not like you can run a Carfax report on a tractor. Using my example, if the unit is "totaled", someone will have to take ownership of the unit, which would be Agricredit as it is the lien holder. It's not like Agricredit is going to let the unit sit around. They'll probably effect repairs to the point the unit can be resold. And then Joe Schmo comes along thinking he's getting a deal.

This may be all "conspiracy theory", but the reality is that Agricredit is not in business to make money selling tractors. Rather, they sell tractors as a means to recover on a loss.

I just have a hard time believing that all those units are only repo's.

 

[EFC]

Right now the dealer is working up a quote to repair the unit. However, if the amount to repair is too much, Agricredit may elect to "total" the unit. In which case, the policy requires either 1. replacement in kind, or 2. reimbursement of my investment (I put a substantial amount down on the unit).

Are you talking about the physical damage insurance that you can buy from Agricredit or private loss insurance you purchased separately?

buck

 

[MessickFarmEqu]

Its more likely that the machines would end up on eBay or some auction. Being that we're in the business, we often notice machines with questionable history's ending up in places where questions can't be asked and the buyer has little recourse. In fact when we trade stuff we're not confident in selling we move it along to equipment jockeys who take it though those channels. Buyer beware!

Its very unlikely that a dealer would buy a machine like that and put in the time and money to fix it. Doing major overhauls on equipment is very expensive and unless your a one man operation its hard to turn a profit rehabbing machines.

 

[Farmerboy]

Are you talking about the physical damage insurance that you can buy from Agricredit or private loss insurance you purchased separately?

Insurance via Agricredit