How important is resale value when buying for long term private use?
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CADplans
Elite Member
I always consider resale,, that is the reason I exclusively buy used.
the dealer financing and warranty period is a major inflation hit on price.
My biggest hope,, is that the paint will buff out!!
:laughing:
the dealer financing and warranty period is a major inflation hit on price.
My biggest hope,, is that the paint will buff out!!
:laughing:
Bird
Rest in Peace
I, too, have bought many things, tractors, cars & trucks, even homes with the thought at the time that this will be my last one. But things change, sometimes quite unexpectedly, so I think it's a good idea to consider resale value, even though I usually failed to do so.:laughing:
bspeedy
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My viewpoint may be a bit unusual.
I have come to believe that every single thing you buy contributes to your net worth in some way - or takes from it. Food, clothing, shelter - all necessities - hardly up for negotiation in my household, within reason.
ALL other things have an impact. $700 smart phone - instantly worth at least 400 dollars less than you paid for it, thus - 400 dollars less net worth with one simple transaction. My smart phone is an iphone 5s which I got for free from someone who was both too cool to use the old thing and too cool to waste their time selling it for market value. We did pay 100 bucks for a nice iphone for the wife - perfect and in the original box.
Furniture? All worth nothing the moment you buy it. Yes - we have furniture in our house.
Cars and trucks? Eroding my net worth as I type.
Tractors? Buy a quality machine for a little less than it's worth and it can be worth the same or MORE for a long time. That is my strategy. And that's my reasoning...
I believe that this approach to spending has been very helpful for my family's finances. And, it gives a logical basis for discussion other than the blanket 'because we just can't afford it!'.
I have come to believe that every single thing you buy contributes to your net worth in some way - or takes from it. Food, clothing, shelter - all necessities - hardly up for negotiation in my household, within reason.
ALL other things have an impact. $700 smart phone - instantly worth at least 400 dollars less than you paid for it, thus - 400 dollars less net worth with one simple transaction. My smart phone is an iphone 5s which I got for free from someone who was both too cool to use the old thing and too cool to waste their time selling it for market value. We did pay 100 bucks for a nice iphone for the wife - perfect and in the original box.
Furniture? All worth nothing the moment you buy it. Yes - we have furniture in our house.
Cars and trucks? Eroding my net worth as I type.
Tractors? Buy a quality machine for a little less than it's worth and it can be worth the same or MORE for a long time. That is my strategy. And that's my reasoning...
I believe that this approach to spending has been very helpful for my family's finances. And, it gives a logical basis for discussion other than the blanket 'because we just can't afford it!'.
PJSprog
Elite Member
You've apparently never been in an antique store. :laughing:
Shaneard
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Ever watch a Barrett Jackson auction?
plowhog
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When I shopped for both tractors, I considered resale value and after thinking it through I assigned a specific dollar amount to resale value. The amount was zero.
First, I don't intend to ever sell my tractor(s). Second, if I did, well that's a whole new ball game. Finally, if I gave resale value a consideration, it would push me toward a Deere or Kubota which is priced much higher for the same capability. So I would start off with a "sure loss" of paying more up front, with dubious or never return based on resale value.
I think this is a consideration only if you anticipate short-term use. In that case you should buy used, which probably again negates resale value as an issue. My .02 cents.
First, I don't intend to ever sell my tractor(s). Second, if I did, well that's a whole new ball game. Finally, if I gave resale value a consideration, it would push me toward a Deere or Kubota which is priced much higher for the same capability. So I would start off with a "sure loss" of paying more up front, with dubious or never return based on resale value.
I think this is a consideration only if you anticipate short-term use. In that case you should buy used, which probably again negates resale value as an issue. My .02 cents.
MtnViewRanch
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My thought exactly.
olPete
Gold Member
In the livestock or land market, you make your money based on the price you buy at, rather than what you sell for. So that's the way I lean with equipment too. I'd rather have something good and cheap and get the use out of it, in the tractor world I'd swap a badge on the front for a yard full of gear to go on the back.
