New Tractor Purchases

[MasseyWV]

Whenever I see posts about new tractor purchases, and considering what these things cost, I can't help but wonder how many people are up to their eyeballs in debt trying to pay for them.

I owe, I owe, so off to work I go.

 

[TripleR]

Actually we pay cash for all of ours.

 

[shortthrow50]

have to pay remaining balance of 30k with check next week when tractor arrives. Almost forgot.

 

[flusher]

Whenever I see posts about new tractor purchases, and considering what these things cost, I can't help but wonder how many people are up to their eyeballs in debt trying to pay for them.

I owe, I owe, so off to work I go.

Bought my new 2008 Mahindra 5525 in March08. Will write the last check in a few weeks and then tear up the payment book :thumbsup:. Feels good, real good.

Now I can go shopping for my next tractor (I collect and restore old iron). Got my sights on several.

 

[jdtractor]

I paid CASH if you must know. I always have.

 

[flatpik6]

The OP brings to mind an interesting call I received from the dealer I am working with here in FL. I am interested in a new Mahindra 5035 and called my contact at the dealer to advise him and have him start putting a deal together. He called me later and asked if I wanted to pay cash for this one or not. I said that I could go either way, depending on what made the most sense for the use of my cash.

If paying cash then I benefit from all cash back offers and a better deal out the door. But if I finance on the 0% interest, I can use my cash for other things until the term of the 0% runs out. I will lose the cash back incentives so my decision will be based on whether I will make enough $ by using my cash another way to offset what I give up on the cash back incentives. Haven't gotten the final offer yet so I still haven't made up my mind but either way it will be an intentional, strategic decision rather than a decision that I HAVE to make. (I suspect that the cash back incentives will be great enough to sway me).

 

[murphy1244]

Going cash instead of credit saved me 3 grand. Need I say more?:licking:

 

[Dr_Zinj]

I paid cash for mine after saving up for it for over 3 years.
Still didn't have enough to get a backhoe with it. So trying to siphon off $8K over the next couple years while paying for 2.5 colleges and replacing the cars. /sigh It never ends.

 

[MasseyWV]

I paid cash for mine after saving up for it

Exactly. If I don't have enough cash to pay for it now, I save my money until I do.

It just gets under my skin every time I hear the terms "0 down" or "finance it today" or any one of a miriad of catch phrases used to get people to buy things they do not have the money to pay for which usually ends up costing them a small fortune in the end.

Today it seems that almost everyone is so obsessed with credit and having it NOW, that they don't really take the time to think about the true cost of credit.

Cash is king.

 

[RollingsFarms]

when I bought my tractor back in '08 the price was going to be the same whether I paid cash or took the 0% for 48 months.