Tractor Prices in Today's Economy

[Gypsy Rose]

Over the past month I put a lot of time into researching and ultimately buying a JD tractor. My search brought me often to TractorData.com to review specs and look for pricing info on the models I was interested in. I spent many an hour pouring through TractorHouse ads, eBay autions, craigslist listings, discussions on this forum, etc.

What I found in the marketplace, though, was that a lot of tractors just weren't selling at the asking prices advertised (or selling at all, for that matter).

Ultimately, I ended up buying a 2002 JD790 with #70 FEL and 75 hours on the clock for $8k. (Along the way, I missed, by a matter of 2 hours, a 2001 790 w/400 hrs, #70FEL, LandPride rototiller and 5' rotary mower for $8.5k.)

My question is this, are these seeminly low prices related to overall downturn in the economy? Or, is it just that January was a good time to buy? (We recently hit 34 below zero here in Vermont.)

I've also wondered if the compact tractor market is being impacted by the many whose "gentleman" farms (often debted to the nines) may be currently strapped for cash in this economic downturn.

Just curious to know what others have found.

All the best,
Kevin

 

[groundcover]

Welcome to TBN ! Congrats on the new tractor,enjoy it in good health. I think all your points are factors,looks like there are going to be plenty of good deals out there. Pretty tough to go without a tractor but even tougher to go without food or housing I guess.

 

[frank_f15]

WELCOME TO THE FORUM i am sure many of the reasons you mentioned may contribute to the good price you paid. But i am sure that each sale is due to many factors, economy, debt, and other factors. some areas of the country may not offer good deals.

 

[newbury]

I've been wondering also.
A look at the various construction markets, especially Ironplanet makes it hard to determine. Prices seem soft on the things I'm looking for, a TLB. However Craigslist does seem to show slightly lower asking prices, however you never know what they actually sell for finally.
Machinery trader does show a lot of machines that are at "good" prices but until you get your hands on the used equipment it's impossible to tell if it's worth it.
The only "hard" figures I've found are that the price of the scams have risen by several hundred dollars. Wheras last year they were trying to steal $3500, $3700, now they want $3,900 to $4,100 to steal your money.

 

[Gypsy Rose]

What I was finding on the Jd790 was that asking prices for that model tractor w/FEL tended to range from 11 - 13.5k, but those did not seem to be selling. The info on TractorData.com gave the average selling price range for the 790 as 8.5k - 13.5k. The only actual selling price info that I was able to gain came from the tractor sale that I missed by calling too late (found that it sold for 8.5k) and the one that I bought (8k).

The big gap between average asking price and the selling prices that I found prompted my question. Being new to the tractor market, I wasn't sure what the "normal" difference between asking and selling was, or whether we are seeing the impact of the current economy in the market.

All the best,
Kevin

 

[foggy1111]

I think you found a really good deal on your tractor. Around here (MN) we are in a heavy agricultural area. From talking with dealers around here.....as I was shopping this past fall....they felt as though they were among the last to feel the effects of the bad economy....as ag prices were strong for quite a while. I think the dealers around here had a pretty fair year. Going forward is very questionable.

I bought my 790 last fall too.....I WISH I would have paid your price.... Around here there aren't enough NICE used CUT's to pick from.

It was hard for me to buy used....as the new models are pretty attractively priced...and they have some nice features and the finance programs are attractive too. But....I have this budget thing going on in my mind....and have tried to fit my entire package into a $15,000 budget: Tractor w/loader, 16 foot car trailer (like new used), with new King Kutter 5' brush cutter, box blade, 5' tiller, box frame Disc, quick hitch, sprayer and micl. stuff and tractor improvements.

I ALMOST got it all done for my budget.....but then close only counts in horseshoes. I didn't know I was going to buy a tiller this year....but after reading all the positive tiller posts on here....and after stumbling into a great deal on a new one.....how could I refuse?....lol.

Now, I'm anxious for some nice weather to find out how all this fun stuff is gonna work out for me. Lots of work to do.

Good luck with your purchase.

 

[wolc123]

Definitely a buyers market right now. My neighbor just bought a 200 hr, 60 hp, 4wd Kubota with a loader and forks for $16k that was listed at $19k. The best deal he could find on a new one was $25k. People are panic selling the used ones now because they believe all the economic doomsday hype on the news. I cant recall a better time ever for buying a used tractor. Folks are being whipped up to hysteria by the media and government. Settle down folks, we will be ok.

 

[AKfish]

Definitely a buyers market right now. People are panic selling the used ones now because they believe all the economic doomsday hype on the news. I cant recall a better time ever for buying a used tractor. Folks are being whipped up to hysteria by the media and government. Settle down folks, we will be ok.

Ain't that the truth!!

Take a deep breath.. count to ten. Take a deep breath.. count to ten.

It's amazing how people can over-react. I guess the sun will come up in the morning -- even if some banker on Wall Street steals another billion or two!

AKfish

 

[newbury]

Ain't that the truth!!

Take a deep breath.. count to ten. Take a deep breath.. count to ten.

It's amazing how people can over-react. I guess the sun will come up in the morning -- even if some banker on Wall Street steals another billion or two!

AKfish

And that's it - Wall Street -
I just finished watching a piece on the stock market, and once again the talking head advised to leave your money in the market, because if you pull it out now you might not get back in at the right moment. I've got friends that have "averaged down" almost half of their retirement funds in the Federal gov't version of the retirement system (TSP). I look at what I would have lost if I hadn't pulled out and it's the value of a B21.

Wall Street only makes money if you buy or sell, "they" don't care if you make money as long as they make money.

A farmer only makes money when he sells.

 

[flusher]

Over the past month I put a lot of time into researching and ultimately buying a JD tractor. My search brought me often to TractorData.com to review specs and look for pricing info on the models I was interested in. I spent many an hour pouring through TractorHouse ads, eBay autions, craigslist listings, discussions on this forum, etc.

What I found in the marketplace, though, was that a lot of tractors just weren't selling at the asking prices advertised (or selling at all, for that matter).

Ultimately, I ended up buying a 2002 JD790 with #70 FEL and 75 hours on the clock for $8k. (Along the way, I missed, by a matter of 2 hours, a 2001 790 w/400 hrs, #70FEL, LandPride rototiller and 5' rotary mower for $8.5k.)

My question is this, are these seeminly low prices related to overall downturn in the economy? Or, is it just that January was a good time to buy? (We recently hit 34 below zero here in Vermont.)

I've also wondered if the compact tractor market is being impacted by the many whose "gentleman" farms (often debted to the nines) may be currently strapped for cash in this economic downturn.

Just curious to know what others have found.

All the best,
Kevin

The trade-in value of the 790 ranges from $4K for the manual steer model to $5.8K for the 4WD. Resale price is in the $6-8K range. The FEL is worth maybe $3K judged by the low clock hours. Your $8K price, including FEL, is in the ballpark for the manual steer model and is an excellent buy if your tractor is a 4WD model.