Spoke with the dealer this morning..
Here are my 3 options:
- Sell it myself (I haven't yet talked to JD Financial about this process yet)
- Consign it to the dealer. I still control the transaction with seller. I pay the dealer 5% of purchase price after the deal is done. Two ways this can go. They prefer the equipment to be at their lot during consignment. I do have the option of leaving the equipment on my property during consignment. If I go this way, this is the only way I would do it. There is no telling how long my equipment would be on the dealer lot, which prevents me from its use during the consignment period. Personally, I think this is a bad option either way you look at it. The dealer has zero risk and they get a fat 5% fee for doing nothing other than advertising it.
- JD buys my equipment outright and put it in their used equipment inventory. I am awaiting a valuation from the used equipment manager either sometime today or tomorrow. This is a potential option IF the valuation is in my favor. With equipment being in short supply and the price of new available options suffering from increased price movement, I might get lucky. Who knows at this point.
If the last option fails to produce any meaningful results in my favor, I can always sell it myself on the open market (subject to JD financial process) or I can just keep it. Keeping it is not my desire. Its a lot of money tied up in a tractor that mostly sits in the shop.
More to follow..