Is there a title to a tractor?

[Frankenkubota]

Problem is buying a used tractor. I found a 2017 Mx 5200 with very low hours but I couldn't convince myself there was not a lien on the tractor even though the owner assured me he was the only owner and had paid cash. The dealer confirmed that. How do I know the owner didn't take an equity type of loan out and encumbered the tractor? You don't know and can't find out.

Hard to tell someone you believe them but, you really don't. Like trust but verify, that's a contradiction in terms.

Turns out a new 5800 was not all that much more.

 

[Rock Crawler]

I've bought skid steers, small loaders/dozers and such, always cash in hand and load on trailer.
I really don't need to know your name and you don't need to know mine.

 

[fried1765]

I've bought skid steers, small loaders/dozers and such, always cash in hand and load on trailer.
I really don't need to know your name and you don't need to know mine.

Can't be suspicious of everything/everyone all the time.
Use common sense!
If the deal seems legit, it probably is.
If it seems too good to be true, a bit questionable, or somewhat shady, ....just walk away!

 

[JWR]

Sure, I see the viewpoint of Rock Crawler and fried, and others. Some of us are businessmen, some like me just retired hobbyists with a farm or two, and some trying to make a living. My comment is that any purchase involving more money than you typically carry in your billfold should involve a bill of sale. No harm no foul. No honest seller minds signing a bill of sale. Good to have if your tax returns and that purchase of equipment show up in an audit, etc.
Helps to head off trouble later and can't hurt anyone to get a bill of sale. Give the guy a handshake when he hands you the bill of sale.

 

[oosik]

In WA the only things that have titles are units that will need a license. I got a letter from Kubota saying the tractor had been paid in full. Here our "tax on vehicles" is an annual license. Also - you don't drive it on the public roads - it doesn't need a license.

 

[Frankenkubota]

There are many stories where the buyer had his tractor repoed because there was a lien on it. In one story the guy bought a new JD tractor from a dealer. Dealer went out of business. Dealer never paid his bills.

They repoed his JD tractor that he bought new with cash from a franchised dealer.

I'm telling you boys, they got this thing sewed up.

As far as you gotta trust someone........In the words of RR, trust, but verify. That still cracks me up!

 

[RjCorazza]

Interesting topic. A neighbor of my parents had his Economy tractor (small scut / mower) repoed when the sole proprietor dealer went under.
I recently sold a ZD331 with a bill of sale to a nice guy a few hours away. He vetted me through Facebook, spoke on the phone a few times, and for a few hours in person. He was still taking a risk, but we both felt comfortable with the sale. I bought the mower used from a large east coast Kubota dealer with a very good rep, which was a big plus.
I'm not that well versed with legal issues, but I believe a bill of sale just keeps the buyer out of jail if the deal goes south.

 

[Frankenkubota]

Interesting topic. A neighbor of my parents had his Economy tractor (small scut / mower) repoed when the sole proprietor dealer went under.
I recently sold a ZD331 with a bill of sale to a nice guy a few hours away. He vetted me through Facebook, spoke on the phone a few times, and for a few hours in person. He was still taking a risk, but we both felt comfortable with the sale. I bought the mower used from a large east coast Kubota dealer with a very good rep, which was a big plus.
I'm not that well versed with legal issues, but I believe a bill of sale just keeps the buyer out of jail if the deal goes south.

I doubt anyone goes to jail, they just repo your tractor if there is an outstanding lien. A bill of sale is not a title, ask your lawyer!

Much as we might not like it, it is what it is.

Still strange to me that I have to have a title for a POS $300 car but not for a $50,000 tractor.

Finally quit raining, nice autumn so far!

 

[LD1]

ITs a slippery slope on buying and selling used tractors....as you pretty much have to rely on the honesty of the seller.

A bill of sale or statement from the dealer saying the lien is satisfied like you got....is great.

But as a buyer.....there is no way for me to know that you didnt just take a personal loan out from your bank and use the tractor as collateral to pay off the loan through the dealer/manufacture.

So on one hand....yes you have a proof that a loan was paid off for the machine.....but on the other hand I have no idea if that loan was paid off with another loan to simply get a better interest rate or something......

 

[ovrszd]

As a buyer, I only ask for a Bill of Sale to give myself some protection if the tractor is stolen. At least that helps me prove I didn't steal it.