FarmTrac Troubles

[Dargo]

Right now there is a FT 60 without a loader on sale on ebay. The tractor has about 700 more hours on it than mine but all new tires.

Yup, that one is on my "watch" list on eBay.

 

[bluechip]

Market value is the price a willing buyer will pay AND a willing seller will sell for with neither under duress.... There are a lot of buyers wanting to get a bargain and that is understandable, but what is offered does not establish market value. What the dealers have to do is find people who NEED a tractor and can afford a FAIR price, taking into account all the facts. I could see fire sale prices if the manufacturer was shut down and there would not be parts manufactured for these (or old fords for that matter). but that is not the case. We will have some inconvenience and some dealers have already had to shutter their operations, leaving their customers without support. This does negatively impact value. If sellers agree to sell for as little as 50 percent, they will end up with deficencey judgements from the
floor plan company. It might be just as well to let them have it all. Many dealers couln't take a hit for 20 to 30 percent of our Farmtrac inventories and survive. For many it will probably make more sense to "get judgement proof" and let the floor plan company have and liquidate them. Of course then there is NO dealer support at all... This is a real mess and no real solution. Perhaps a charity could benifit by buying these at 70c on the dollar and ship them to third world farmers somewhere... I don't know.

 

[Ryan03]

I cannot speak for the entire farmtrac line, however I broke my 270 yesterday, [my own negligence] and had to go to my local dealer to hopefuly get what I needed. I was very concerned that I would have a real hard time finding a front wheel due to the current Farmtrac situation. My dealer was still able to check warehouse stock online, and ended up having the wheel , tire, and lug bolts, nuts, and studs in stock. He was originaly exclusively a Farmtrac dealer, and a large one at that. He now carries Montana, as well as his remaining Farmtracs. He explained to me that my 270 is made by LS Cable, and once you take off the sheetmetal , is the same as the Montana 2740, and also a Mcormic and recently introduced Bobcat brand cut. He explained to me that he now stocks his parts dept through Montana, and as I found today, Parts suply is no problem, at least for my 270.

 

[tommybr]

I think that we all need to be reminded that Farmtrac is, as of now, still technically in business. It is operating under the North Carolina Recievership laws. The parts department is still open. The parts department is running and we are told that there are plans to "replentish the shelves" in the parts department. We are also told that there are potential buyers, investors, etc. who are interested in it. Don't count Farmtrac out just yet. The reciever has indicated that his preferred outcome would be for Farmtrac to survive as on ongoing business. Textron, the lagest creditor of Farmtrac, has indicated that liquidation of Farmtrac is not their preffered outcome either. We are all just waiting to see what happens. In the meantime..........these are still good tractors!

 

[blueliner]

I think that we all need to be reminded that Farmtrac is, as of now, still technically in business. It is operating under the North Carolina Recievership laws. The parts department is still open. The parts department is running and we are told that there are plans to "replentish the shelves" in the parts department. We are also told that there are potential buyers, investors, etc. who are interested in it. Don't count Farmtrac out just yet. The reciever has indicated that his preferred outcome would be for Farmtrac to survive as on ongoing business. Textron, the lagest creditor of Farmtrac, has indicated that liquidation of Farmtrac is not their preffered outcome either. We are all just waiting to see what happens. In the meantime..........these are still good tractors!

Tommy -- I'd hope the customers keep the basics in mind:
- Farmtrac is a very good product (despite a distorted portrayal on WRAL) and lots of customers swear by them,
- Farmtrac parts are mostly common commodities (other brands use the same stuff!),
- Farmtrac dealers are highly loyal to their customers (they care for customers without regard of headquarters issues).

Here's an endorsement for continue purchasing "big blue" with confidence.

--blueliner

 

[blueliner]

ATTENTION FARMTRAC DEALERS and NOT-EVEN-ZERO REBATE CUSTOMERS:

The LEGISLATIVE HOTSEAT IS SADDLING UP... AND ABOUT TO MAKE ITS ROUNDS.

The time has come for legislators to take the Farmtrac situation seriously -- or be held accountable for their failure to act.

Yes, it is time for dealers and customers to stop being shoved around -- and time for them to shove back. By sharing your information, you will help the media expose legislators who are not taking care of their constituents -- you!

Any dealers or rebate customers who have contacted a state or federal senator or representative, please contact me:
by e-mail: bob_benedetti@hotmail.com or
by fax: (623) 687-9467

Include the following information:
Your name,
your state,
your contact information (phone, e-mail, etc),
legislator name,
legislator title (senator, representative),
legislator contact info,
details on what type of response you received (please include documentation whenever possible).

***
C'mon now, we need EVERYONE's help... in all 23 states Farmtrac dealers are licensed, and wherever in North America that customers are located.

***
Need help figuring out who your legislators are?
Send an e-mail or fax (see above) and ask!

Thank you in advance for your time and effort.

More than 280 Farmtrac dealers across the continent and customers fleeced for $2.9 million thank you.

--blueliner

 

[tommybr]

You are right, Blueliner....................Farmtrac suffered from extremely poor management....................this whole thing is a management issue, not a product issue.............and certainly not a DEALER ISSUE. The Farmtrac dealers have done valiantly well in trying to keep their customers tractors serviced and running "up to speed".............this in spite of the enormous pressure placed upon them by the "powers that be" .........

"We have done so much with so little for so long................we can do almost anything with nothing !!!!!"

 

[redneckford]

I bet the dealers children are not starting school with new shoes. Everyone needs to send remember who is really taking the brount of this the DEALERS AND THEIR FAMILIES!!!!! Try and make an 8 year old understand why Daddy/Mommy is working all the time and don't have time or money for them right now!!!!

 

[DavesTractor]

Perhaps a charity could benifit by buying these at 70c on the dollar and ship them to third world farmers somewhere... I don't know.

I don't know what the dealers pay for these (I am a Mahindra dealer), but at a certain discount point other dealers like myself would pay cash for a few of them. They are a good tractor and in my opinion a better option than a gray market (good quality but parts and safety issues) or a Jinma (new, but not the same quality as FT). At the right price, perhaps a couple hundred dealers across the USA could buy a handful each and ease the burden a little on the FT dealers. They would not be easy to sell as the customer would have to be told the story, but there are always the bargain hunters out there.

I feel for you guys. A few years ago I could have very well taken on FT instead of Mahindra and I'd be in the same boat through no fault of my own. I admire the group here and the support you give each other.

 

[SESS]

The main problem the dealers are facing right now is that the tractors currently on their lot are floorplanned and the floor plan company is not offering any sizable discounts to get the units moving. $500-$1000 for several year old models are not discounts! People ARE VERY interested in buying the Farmtracs BUT each dealer is responsible for paying the floor plan company for invoice amount. A majority of the dealers cannot bare the weight of offering their own discount program, just to get the tractors gone. It requires a shared loss from both the floor plan company and the dealers. Our dealership sold 2 tractors and it cost us $4,000. Dealers did not get into the busy to loose money on each sale! VERY difficult to stay in business when you are paying for people to buy your inventory!!!
Another major obstacle facing the dealers is financing. The previous finance companies that have been used in the past REFUSE to finance a new Farmtrac because their is no manufacturer to stand behind the product for the previously sold units who lost their warranty when Farmtrac closed, questionable parts base (that issue is very soon to be resolved-HOPEFULLY!) and the new warranty plan has not been tested enough to have the confidence from the dealers to use it! For the customers to find private financing is cost 7-11% interest. The customer would rather pay a little more for another brand to get better financing, manufacturer behind its product, parts and warranty to go with it. Who wouldn't do that! LG Cable, Escorts and SAME needs to stand behind their warranty for these customers!
Dealers have been offered to buy surplus Farmtrac tractors not currently floordplanned on their account-who has the money to do that when we have been loosing our behinds since Jan.???!!!
Redneckford-my kids got new "sale" shoes for school today-no cloths though! Not only is our dealership being penalized for this Farmtrac mess NOT created by ourselves, but your absolutely right-our families are paying the price and our children. Children do not understand-heck adults do not understand either!