Are there enough used CUTs out there?

[fried1765]

Come and buy in Canada - the Canadian Dollar is at about 75 cents US right now, so a $20k Cdn tractor will only cost you $15k US!

I wish it were that simple.
Canadian dealers simply adjust their prices to reflect the existing exchange rate.
A current 20K Cdn $ tractor, is a current 15K USA $ tractor, but there are not many new tractors for sale in the USA for 15K.

 

[fried1765]

If you sold it for the amount you wanted, you didn't sell it too cheap. You sold it just right.

My comment about.... "sold too cheap".... was only a tongue in cheek philosophical comment.
I was....kidding !!!!!

 

[ovrszd]

My comment about.... "sold too cheap".... was only a tongue in cheek philosophical comment.
I was....kidding !!!!!

You forgot the smiley face.

 

[nards444]

Same could be said for everything. Home prices, car and truck prices, college tuition... Going into dept has enabled so many people to buy stuff with credit they otherwise couldn't afford that it screws with the whole idea of supply and demand keeping prices in check. But this is the world we live in, so onward we go and as long as we can afford the monthly payments, it's all good

Well said. Reality is without credit people wouldnt have a lot of things, including things that were needed. Also credit has helped create jobs and has ultimately created cash flow. The problem is there really is no stop gap to force people to stop until its to late. IMO borrowing is healthy if you can stay healthy, it can save your own funds for other things, keeps you disciplined because of payments etc. Also lending at least benefits me. I havent paid more than 5% interest on really anything, if I were to average it out over the last 15 years my avg interest rate is probably 2-3% which is close to free money. I carefully borrow on things like my tractor, got it for .99%, of which I am making money, why? Well money that would have went to the tractor is staying in my 401 and I keep putting money in the 401, even with a down year im making 6% right now, so I am making money right now by borrowing.

Granted the issue with borrowing is when the music stops, but I would argue if you are a cash guy when the music stops you'll end up in the same boat eventually as the borrower it might just take longer. Ive also know alot of cash guys that dont have a penny in a 401 and are going to rely on Social Security and their safe for retirement. M point here though really is balance I think is the best approach, not having debt is good, but not having debt means you dont have credit either.

The formula we have been using is to each put 15% into our 401k', we have saved enough cash to cover expenses for a year without any paychecks, debt to income ratio not including the mortage we keep in the 15-20% range, think were actually around 17% right now, together we put another 15% or so into our savings. Ultimately we can pay our bills, build our retirement, have a stash, and are able to flex a few grand thats laying around every single month to anything we want.

 

[aaronrkelly]

I definitely bought out of lust then necessity. I have maybe 3 acres. I need to spread some gravel and occasionally dig a hole.

I could have hired all the work I needed done for MANY years for what the tractor cost.....but I also like to be self sufficient as much as possible. I have 3 close friends that we share stuff.....because we all take care of and value our tools. That being said....I *MAY* borrow something once, if I need it again then I NEED one....and will be buying my own.

I did, however, pay cash for my little tractor so no hardship. Found a sweet buy on a BX24 local-ish.

....and the market is dry.

When I bought mine there was an older BX with 380hrs, 4 wd, HST, loader and belly mower for about $6500. My BX24 with 200ish hours, no mower but of course loader/backhoe at $8900.

.....and quite a few JD CUTs for a few thousand less then new.

That....was.....it.

Im likely not to get rid of mine....so Im not worried about resale. If I do, much like many of my other things, one of those other 2 people would likely be first to jump on it.

In my area the small tractors are thin.....but Im guessing thats more a function of people using/needing BIG tractors around here for farming operations.

 

[ovrszd]

I definitely bought out of lust then necessity. I have maybe 3 acres. I need to spread some gravel and occasionally dig a hole.

I could have hired all the work I needed done for MANY years for what the tractor cost.....but I also like to be self sufficient as much as possible. I have 3 close friends that we share stuff.....because we all take care of and value our tools. That being said....I *MAY* borrow something once, if I need it again then I NEED one....and will be buying my own.

I did, however, pay cash for my little tractor so no hardship. Found a sweet buy on a BX24 local-ish.

....and the market is dry.

When I bought mine there was an older BX with 380hrs, 4 wd, HST, loader and belly mower for about $6500. My BX24 with 200ish hours, no mower but of course loader/backhoe at $8900.

.....and quite a few JD CUTs for a few thousand less then new.

That....was.....it.

Im likely not to get rid of mine....so Im not worried about resale. If I do, much like many of my other things, one of those other 2 people would likely be first to jump on it.

In my area the small tractors are thin.....but Im guessing thats more a function of people using/needing BIG tractors around here for farming operations.

Welcome to TBN.

Very honest post!!!

 

[check]

I wish it were that simple.
Canadian dealers simply adjust their prices to reflect the existing exchange rate.
A current 20K Cdn $ tractor, is a current 15K USA $ tractor, but there are not many new tractors for sale in the USA for 15K.

Nope. The BX23S lists for about $2,000 less in Canada, but the real savings are in the used market. For example, my dealer told me a couple years ago that he would only give me $10,000 Canadian, which is 7500 US, for my 09 DX 25 with about 700 hours and in mint condition. How many guys on this form would be hitching up their trailers right now if I said I would take $7500 for my tractor?

 

[check]

Nope. The BX23S lists for about $2,000 less in Canada, but the real savings are in the used market. For example, my dealer told me a couple years ago that he would only give me $10,000 Canadian, which is 7500 US, for my 09 DX 25 with about 700 hours and in mint condition. How many guys on this form would be hitching up their trailers right now if I said I would take $7500 for my tractor?

Oops! Typo. That is a BX25.

 

[nards444]

Nope. The BX23S lists for about $2,000 less in Canada, but the real savings are in the used market. For example, my dealer told me a couple years ago that he would only give me $10,000 Canadian, which is 7500 US, for my 09 DX 25 with about 700 hours and in mint condition. How many guys on this form would be hitching up their trailers right now if I said I would take $7500 for my tractor?

For 7500 maybe if I was looking. You were quoted wholesale price not retail though. Those machines go for around 10 maybe 12-13 for that age if they have a back hoe or other things. But I agree with others typically dealers and sellers price stuff to offset exhange rate, not all the time, but it happens more often then than not. See a lot of canadians in the parking lots here every week, because shopping is cheaper.

 

[airbiscuit]

Just for fun, I regularly scan Tractor House less than 40hp tractors in MN and WI. There is generally a disproportionately high number of SCUTs compared to CUTs listed. My speculation is that they were traded in on a bigger tractor.