bandit67 said:
And you may need to get rid of it in short order if something bad happens - loss of job, medical emergency, etc.
...Resale should always be, at the least, in the back of your mind, and not completely discounted.
There is a lot of wisdom in this post.
I have always been very bad at selling things, but had a recent experience which "showed me the light".
This wasn't with a tractor, but almost 4 years ago now we bought a motorhome to travel around and look at retirement properties. Not a fancy one, but we got a good deal on a Class C. I thought we would keep it just about forever, but...
Found the right property in the right area and bought it. I retired about a year ago, and lived in the motrohome on the property for a year while the house was finished.
Well, after that we didn't have a use for the motorhome and it just sat. DW and I were both kind of burned out on living in it by then -- to small for us and two labradors.
Left to my own devices I would have let it just sit, but we need money now to fix up our old house in CA to sell it. And, the stock market has been down for a while, so I am reluctant to sell off assets at a low point. I called up a consignment place three weeks ago, and they sold the motorhome last week. We now have about $29k to put into the house, without selling any of our investments.
Anyway, the point is that sometimes resale value can be unexpectedly important.