HARD TIMES REPO

BTI · Mar 27, 2008

Slack- This can be the case.
I know of dealers that have lost out ALOT by doing this and not realizing there was a lein on the tractor.
I talked to someone that sold a machine and told the bank the tractor was rolled etc and destroyed.
Could be an old 9n, might be a one year old Kioti....
Hard to tell without digging a little.

Spider- Aren't tractors registered fairly extensively in England?
I read "Tractor" magazine from time to time...
I LOVE the fact that the English seem to really like the older machines.
Cool tractor community you have there!

BTI

Gittyup · Mar 27, 2008

So, how does one protect themselves? Ask for a copy of a lien release or bill of sale? Is there a means to check if a lien is held against a machine?

I paid cash for mine. Kept the bill of sale. In case I ever do sell it, I can show the purchaser that it's fully paid for.

Spider · Mar 27, 2008

BTI said:
...
Spider- Aren't tractors registered fairly extensively in England?
...

A lot of tractors are registered so that they can legally travel on the highway. If the tractor is not used on the highway then their is no need to register it.

JDGREEN4ME · Mar 27, 2008

wallace said:
Hey guys and girls just a little heads up...
I received a call from a customer that is about to loose his CK20 hydro tractor loader backhoe, he called me to willing give up his tractor.
If anyone is looking for a deal on a...
2006 CK20 hydro
KL120 loader
Kb2365 w/12" bucket
Grill guard
Sunshade
It will be coming to my lot with in a week or so, we do not have the current hours as the customer is bed ridden.
To clear him from this tractor we will need to get $13,851.00
Please with all do respect this is a non negotiable number.
All legal paper work will be down by us Wallace Tractor.
If someone is interested in financing this tractor please call us.
If anything chances I will pass it on.

What are the interest rates and length of terms available for used equipment?

bluechip · Mar 29, 2008

Well, I'm sure no one would buy a KIOTI would ever do a thing like that (not pay off the loan).... so that would be a great reason to only buy KIOTI used tractors! Seriously, this can be a problem especially if you don't know who you are dealing with....At least ask if the seller has borrowed agasint the tractor (does not have to be a purchase money lein), and if so, and you don't know the seller, you might want to talk to the lender, make the check out to both the seller and the lender, and get a UCC release from the lender.