New or Used

[LBrown59]

I've found buying new is cheaper than buying used because of the ZERO percent financing on new.
The one exception was on the used Kubota BX1500 I purchased last month.
At$4500 it was enough of a price difference between going used over new to offset the finance charges on the used tractor.
Hopefully I can sell the CC it replaced and use the funds from that sale to pay off the Kubota a couple of years or so early thus saving a bunch on finance charges.
I got luck and got a good price on the used Kubota because usually the price spread between a decent used unit and new is not large enough to make buying used less costly than new.

Long time lurker. Recently registered. Here is my 1st thread.

Question: Do you buy new or used & why.

Thanks & Happy New Year!

 

[Harvey7]

If you can afford it, go new. You'll have warranty and the general assurance that it will work well. The interest rates are great and you said you believe this is a one time lifelong purchase.

Good luck, Harvey.

 

[JSR LLS]

I'll put my two cents in here. I just last month bought my new JD2320. I love it. I was in your shoes. We had moved to this place in late summer of 2006 and the GX345 I bought just couldn't/wouldn't handle the things we needed it to do. I found a 10yo JD 755 equipped how I wanted it(except no front snow blower) with super low hours in great condition. They wanted 10K for it. Now, with just moving and having two little kids in day care, we aren't made out of money and planned on financing for as long as possible, so...I ended up going new and trading the GX. I figured, if I bought the 755 and kept the GX, I would end up with an even older machine with possible repairs needing to be made through the term of the loan. I also figured, if I traded (we didn't really need two machines anyway) and bought new, I would have a newer machine when the loan was over and repairs (hopefully none) made under warranty. Good Luck. Oh and Welcome to TBN.

 

[75H2]

JSR,

Sounds like I'm in a similar situation. New house (Mortgage) 2 kids in daycare (like a 2nd mortgage) Still up in the air, but guidance seems ot be pointing toward new. Just wish the MF 0% to 60 months wouldn't come with so many strings. I actually work for a business that among other things sells ag equipment including MF. I used my considerable negotiating skills to convince them to sell me a tractor for $800 MORE than I could buy it elsewhere. Not going that route.

BTW I'm blown away by what used '55 Series JD tractors still bring. I "lust" after the 955 the guys use who take care of our office grounds. Do I need to seek professional help?

 

[john_bud]

Do I need to seek professional help?

Obviously, but you are here where 99% of us are in as bad or worse shape than you!




jb

 

[CurlyDave]

For me the deciding factor was that I had absolutely zero experience with tractors and not the smallest clue of how to inspect a used machine or even tell "something wrong" from "normal operation".

I knew what I wanted to do with the machine, but I had to teach myself the correct techniques and gain experience myself. The very high probability that everything I encountered would most likely be normal operation gave me a lot of confidence to try things.

I know I could have hired someone to inspect the machine and someone to teach me, but I decided I would rather apply that money to a new tractor with a warranty and a high probability of nothing being wrong.

With a couple years of experience under my belt now, I might be more willing to look at a used machine, but I would have to come up with a very compelling need for a bigger tractor to part with my JD 110 TLB.

 

[chh]

If you have a good bank that you use on a regular basis, I have had good luck buying the equipment at the cash price and financing it at the bank. I pay off notes early, ASAP, and it works out cheaper that way for me. A good loan officer can make the process much easier.

 

[PA hayseed]

auctions, adds, and trade magazines are possible options when looking for used, as well as many of the dealers carry them too. Don't forget, if you have been lurking here, you will probably get PM'ed by a dealer. Not a big deal, as they support the site and are truly helpful. If I wouldn't have gotten such a great deal from my local dealer, a dealer in PA that supports this site would have definetly gotten my business.

used - saves you money (possibly)
New - costs more upfront and doesn't have problems (possibly)

Your finances should ultimately determine which purchase you make. Buy as much tractor as you can afford, as the attachments you will want to add down the road are not cheap. If your payment is too tight, you can forget the attachments that make life so much more fun/easy.

 

[75H2]

Hayseed,

Thanks for advice. Looking for that special PM If any dealer is out there lurking. My favorite colors are (in no particular order) Red, Green & Orange. I wear a size SCUT or small CUT with loader & MMM. Santa didn't get the job done this year. Like to have something to play with before the Easter Bunny comes to town.

Happy New Year everyone

H2 (2 wheels not 4)

 

[Bob_Young]

75H2,
A few thoughts:
1) Whether you buy new or used, you're going to be taking a sizeable financial hit. Like Kozak said, the good used ones aren't cheap and they are hard to find. How likely is it that when you finally find one, it'll be exactly what you want? As long as you're paying big bucks anyway; buy new and get what you want.

2) A well cared for and fully functional tractor will, after 6 or 7 years have passed, sell for about the same dollar amount as you paid for it. This varies some, of course. Some makes, models and options are more popular. Still, when you look at it, you're getting the use of a tractor for about what you'd get in interest on the initial purchase amount. Yeah, buying new is the bigger hit; but with reasonable care, you'll get most all of it back...with fewer headaches along the way.

3) To me, used is only considered when I know the person who owned it, know and approve of how he cared for it, and know what its work/maintenance history has been. My life & money are too short to buy problems.

4) On edit: I don't buy high-ticket items unless the money to pay for them is in the bank. This may influence how much weight you're willing to give the above 3 points.
FWIW
Bob