Putting off purchase

Bird · Feb 28, 2001

Been using a 1950 case DC for the last 17 years with a home made 3 point hitch hooked to a 5' bush hog - hand clutch

I don't recall seeing one of those Cases with the hand clutch since I spent a few days with an uncle plowing wheat fields with a 2 bottom plow and dragging a section harrow behind it in about 1952-53. He had two of them; one with lights, one without, so he worked from about 5:30 a.m. until after midnight and us kids only had to drive the other tractor while there was daylight./w3tcompact/icons/smile.gif

Bird

toddler · Feb 28, 2001

Hey Tom,
Don't know if prices will drop substantially, the equation is too complicated with fixed and variable costs and such, to even guess well. You can hope.

I know how you feel though, I saved for three years for my tractor. Clearly it's a luxury for me, really more a very useful toy than anything else, so the delay wasn't a big problem. For me, the change in the economy will delay other projects. Somewhat because I want to put every possible bit of savings I have into really beat up stock, but also due to simple concerns about the future. That will delay my 20x24'barn/carriage house (for the tractor stuff), paving the driveway, and who knows what else.

There was a scientist once who said that with technology and productivity increases, some day, everyone will have everything they need. A philosopher, Locke maybe, pointed out that the more we have, the more we want, and if an inability to fulfill our desires negatively impacts our lives, then those wants become needs. Still, I'm with you on this one, my little kubota there is a luxury item.

Good luck to you,
Todd

Boondox · Feb 28, 2001

Todd -- What sort of ideas have you come up with for the barn? Kit, DIY, contract out? You and I have the same sort of concerns with wind, snow mass, etc. When you're ready to build I'd love to help just for the experience. Keep me in mind.

Pete
http://www.gatewaytovermont.com

paccorti · Feb 28, 2001

Tom,

I sympathize with your decision. It's very hard to show financial restraint sometimes but you are making the right decision. Financial security is always worth more than a tractor (assuming that you don't use it for business). I must admit that the economy scares me sometimes too.

My father in law has his own business doing high end woodworking (libraries, great rooms etc). He said it is amazing how rich some people can be and still not live within their means... They occasionally get whacked by the economy too. If it makes you feel any better I kicked off the construction of a new house before all this bad economic news. That horse is out of the stall now... no turning back!

Surf the tractor board to get your daily "fix" of tractoring. Do some more research. Drool over new tractor models coming out. Research the perfect implements. Buy Muhammad's new tractor book! And...

Enjoy a good night's sleep knowing that you did the right thing. This bad economy will soon pass (1 year?)

Peter

Charliebrn · Feb 28, 2001

My little Bota is clearly a luxury for sure, in that I've been getting by without it for years. But there is something else in the mix...it gives me a way to blow off steam, to relax. I enjoy putting around the homestead with it like some men enjoy chugging down a few beers at the local bar. After a rough day at the office, I can't wait to get home to play with it, and so it helps me maintain what little sanity my wife says i have, and for that, it is a need.

AndyR · Feb 28, 2001

Tom: Better to wait till your comfortable. I hate paying interest so saved up the cash (business is good). The way I figure it, the fewer the loans the faster I can adapt to whatever gets thrown at me.

Pete: Check out this link for building plans. I'm partial to timber framing myself but that takes time.
http://www.ag.ndsu.nodak.edu/abeng/plans/

Andy

"Beer is proof that God loves us and wants us to be happy." - Ben Franklin

Harv · Mar 1, 2001

Tom -

I was in your shoes quite recently. Since I dropped out of corporate America a few years ago (30 years was enough), I've been trying various ways to make it on my own. The result thus far has been very little income, so the idea of buying a tractor came at a very bad time.

My rationale went something like this -- it was a choice between breaking my back or breaking my bank account. Surprisingly, my wife was in favor of saving my back. /w3tcompact/icons/shocked.gif Still, when we looked at our uncertain financial future, it came down to the potential resale value of the tractor. From reading this board and talking to a few owners and dealers, I was convinced that if I bought a Kubota and took very good care of it, I could sell it any time in the next few years with minimal if any loss.

A gamble? Maybe. But so is life ... /w3tcompact/icons/wink.gif

JATO_RaT · Mar 1, 2001

Roy, good perspective on the payment situation, making those payments month after month can create a disappointing situation. While I don't agree with Tom about the economy, he has always got to be concerned about purchasing a "luxury" item. Your last remark puzzles me though, I find it odd that you think we try to hold the government fiscally responsible, clearly they are not, the debt has been growing since the 1960's, but the most prudent reason we should hold them fiscally responsible has to be the fact that it is our money. You are so right about the "wants" and discipline aspects in your post. Rat...

P.S. I am definitely not looking for a political twist to this post, none intended and none wanted, thanks

skent · Mar 1, 2001

Don't get me wrong - the DC is here to stay - the bota' dealer wanted to give me $500 trade for it when I got the B7300. But the DC (when its working and not leaking) can't be stopped. Main use for the DC now is log splitting. Also have a 51' SC (same frame - smaller engine) for truck patch work - but it has the hand clutch on the right side. Why on earth did they do that. Just when I get used to the DC, I get on the SC - reach for the clutch with the left hand and guess what - it ain't there! Come to think of it - my David Bradley Tri-Track has a hand clutch too - its in the middle !

Roy · Mar 1, 2001

Rat; The last statement was just an aside, not directed at anyone in particular, but just an irony that has been bothering me for years. It is not a political statement, but conversely an indication of the average American's fiscal hypocrisy. This is the 'irony' that perplexes me….

When asked if the government should manage spending and reduce debt, polls show that the average American says 'yes'. I absolutely agree with this, the government must be held accountable for fiscal responsibility.

When a company goes bankrupt, those out of a job complain that the company should have been better managed. Same for when a pension fund goes belly-up. In other words, the average American is quick to point out the sins and flaws any institution (private or public) of being financially inept.

BUT… Studies also show that the average American is in debt, way over their heads. Last week I was floored by the amount of debt carried-over on the average credit card (balance on which interest is owed, don't remember the exact figure, in the thousands). Sometimes, we have to stop and look in the mirror and say 'how are we managing our own finances'. Not just point at other's sins.

IMHO, The public sector must be held accountable for spending… they do not have the moral right to simply pick-from-the-money-tree (raise taxes). At the same time, we as individuals must be held accountable for our spending. A large portion of our income in the United States is spent on discretionary purchases, not necessities. A house may be a necessity, but what size, how new and what exact location is a choice. A car may be a necessity, but how new and what size, is a choice. What the typical American has to remember is: Physician, heal thyself. [Apologies for stepping on the soapbox]

Addendum: I don't want anyone to interrupt this as that I believe all vehicle, home, property, tractor, vacation, etc. purchases are lavish and wrong - I do not. What I do try to stress is we take our time, and think about what the financial consequences are. The old 'Act in haste, Repent in leisure'. We all need some indulgence in our life (nothing wrong with that). Problem is if the indulgences become so frequent or extravagant that we put our own, and our family's, future security at risk.

Edited by Roy on 03/01/01 10:57 AM (server time).