I spent almost half of last year looking at used tractors. During that time, I saw them increasing in price dramatically. Same tractor, same hours, same dealer, but all of sudden it was $5,000 more!!! Some of the used tractor dealers offered financing, others said to go that everyone goes to the bank down the road, or they find something online. The few times I looked into it, the interest rates where higher then I wanted. It seems that if the tractor is ten years old, they don't want to give you the good rate. If it's newer, then that changes.
I wanted something before Tier4 emissions, and something that could pull a 15 foot batwing, which meant 80 hp at the PTO. The more I looked, the more I liked the 70 hp sized tractors. I have a lot of woods, and my pastures are only a few acres big. I finally realized that 70 hp was plenty, and I could just get a 12 foot batwing instead.
That led me to looking at new tractors that where under the 75 HP limit for Tier4 emissions. Some of them do not have DEF and Regen, which is what I wanted to avoid. All of a sudden, zero percent interest on a brand new tractor became an option. They are more money, but they do not have any hours and abuse on them already, and the monthly payment at zero percent was very close to the payments on those used tractors at 5 to 8 percent.
I'm now waiting for my brand new Massey Ferguson 4707 to arrive at the dealer.
