How do I protect myself buying a used Deere?

[cast_and_blast]

Cowboy -

You can and should do all of the necessary lien searches and contacting Deere, additionally I would create a Bill of Sale that fully describes the Tractor being sold, chain of title (ownership) and representation of clean title that survives the closing. This means that the Seller is virtually guarantying free and clear transfer of interest and become liable for a clouded "title". You should be able to get some help with this by asking around.

Best wishes

True, but in this case if the seller is already having money problems (which is why he tractor is being sold) there may be legal recourse but it may not be feasible. If the guy is bankrupt, good luck getting any satisfaction of a debt.

Scott

 

[JD 4520]

True, but in this case if the seller is already having money problems (which is why he tractor is being sold) there may be legal recourse but it may not be feasible. If the guy is bankrupt, good luck getting any satisfaction of a debt.

Scott

Thus why I suggest you do all of the above. If you aren't satisfied with the facts then move on..

Due to the lack of title on tractors, on any tractor purchase second hand, I would spend the time to have a well written bill of sale for recourse. I did and feel very good about it.

 

[RoyJackson]

Thus why I suggest you do all of the above. If you aren't satisfied with the facts then move on..

Due to the lack of title on tractors, on any tractor purchase second hand, I would spend the time to have a well written bill of sale for recourse. I did and feel very good about it.

I'm not sure if that Bill of Sale would hold up in a court...but if that's the way it's done, get it notarized too...

 

[High Compression]

I'm looking at a 2 year old Deere tractor.
A guy bought it from a friend who was in a money bind and is reselling it.
My concern is that the friend financed it and defaulted on the loan.
Being that the tractor isn't titled, I'm not sure what recourse Deere or the finance company would have.
All I can think about doing is getting the serial number, contact Deere to see what dealer sold it, then contact the dealer to see if it was paid for.
Any other input here?
Thanks!
- Dave

Easy, buy orange.:thumbsup::laughing:

 

[RoyJackson]

Easy, buy orange.:thumbsup::laughing:

Like..that was a big help...
(actually, totally uselesss)

 

[ctlguy]

Actually, Deere probably can help...since they finance many of their sales...so, again..the Dealer is probably th best place to look initially.

Correct Roy, the dealer can help. Deere however can not, just their own lein. Have seen it before where Deere says a unit is clear but another financial instition has a lien. Deere does not search for other leans just the dealer.

 

[5030]

Like..that was a big help...
(actually, totally uselesss)

I myself considered that a pretty good answer....................

Lien's are held by local lenders. Unless, the unit was financed through Deere, then Deere finance would have the records.

I'd jot down the serial number, call any dealer and check, or, Deere finance.

 

[RoyJackson]

Correct Roy, the dealer can help. Deere however can not, just their own lein. Have seen it before where Deere says a unit is clear but another financial instition has a lien. Deere does not search for other leans just the dealer.

Jeez Bro...you spelled the word "lien" three different ways in one paragraph...just covering all the bases, eh?

 

[grsthegreat]

In the past i purchased a horse trailer from someone in arrears on the thing and was close to repossession on it. What i did was go to the bank that held the loan WITH THE OWNER, and arranged to buy off the loan FROM THE BANK. then i got clear title. The owner was happy to do this cause it prevented a repossession note on his TRW, and the bank was happy to gets its money, and I was happy to get a cheap trailer free and clear of any liens.