N80
Super Member
RickO said:Yeh, I guess it really isn't a problem. I am just surprised that everyone doesn't buy new when the price between new and used seems so narrow.
That is exactly why I bought new. When I started the process I was looking for something in 4wd, 30-40 hp with an FEL for around $10,000. First, there weren't any in my location. Second, if the price was a little less than that the machine was a high hour beater. I don't mind doing a little repair work but I wasn't ready for a 'project'. I have limited time to spend on the tractor getting work done and virtually no time for patching one up in order to keep it running. If the machine was decent it was usually pushing $15,000.
Then I found out that Kubota and JD and others had 0% financing. Well, that iced things. If I bought used I would have to borrow against home equity and pay interest. With 0%, I don't have to involve my home and I pay no interest. I don't know what three years of interest is on a $10-12k tractor at home equity loan rates, but whatever it is, that is what I saved by buying new. I ended up paying a little less than $19,000 for my L4400. That's waaaaay higher than my original budget, but no worse than paying interest on a used $15k tractor I'll bet, especially when you factor in the warranty, the peace of mind and the potential resale value.
Although, if the resale value of these machines is still high, these dealer incentives (0%) must not be slowing the used market down too much. I guess for someone with cash in hand (no loans involved), a used tractor can still be a good deal.