Selling a Tractor Back to the Dealer. Is this a possibility?

[DanielDD]

I have no clue but.... does JD Financial allow a person to sell their equipment privately (before paid off)??

Stay tuned. Will update tomorrow.

 

[5030]

In as much as tractors (at least here) have no title, why not?

 

[Diggin It]

I decided I didn't need the tiller I bought with the tractor. Took it back to the dealer who put it on consignment. I got almost what I paid for it three years earlier. Dealer had told me earlier they keep 15%. When I got the check the numbers didn't work out. When I asked about it, he told me he only kept 10% since it sold so quickly.

With the way prices have changed and with so little use, you might even be able to get more than you paid.

Finance companies only care that they get paid in full. I can't see them being concerned about selling it as long as they get paid.

 

[scaredychicken]

if the JD used market is anything like the Kubota used market, your tractor's value may have Increased in the past 2 years.

this week I saw market place listings for $27K and $33K Cdn for used Kubota sub-compact tractors with less than 100 hrs respectively.

Couldn't hurt to ask at the dealership, or perhaps even consign the sale through them if possible.

all the best

 

[oosik]

Fourteen years ago I traded in my 1982 Ford 1700 and upgraded to my current 2009 Kubota M6040. Same dealer for both tractors. I got a fantastic trade in value. Very near what I paid for the Ford as a brand new tractor.

Eight years ago I outright sold my Land Pride 2596 rear blade. I had two fellows show up, cash in hand, at almost the same time. Wish I would have had half a dozen blades to sell.

Around these parts - more likely to find hen's teeth than any type of used tractor implements. Of course, unless you want something in the 350 to 500 hp range.

 

[DanielDD]

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..

 

[NoTrespassing]

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..

5% is cheap. If I didn't need the tractor I would drop it at the dealer if JD doesn't make a good offer. I bet it would sell fast.

 

[RustyA]

5% consignment fee is actually very reasonable and they'll handle the payoff and give you a check for your equity. If you go this way clean the machine up and have it on the dealer's lot for display. Exposure is the key for a quick sale. If you want to keep it on your property then sell it yourself. Normally consignment fees are more like 10-15%.

 

[DanielDD]

Just goes to show you I know nothing about consignment fees, so I must apologize for my naivety in these matters. Thanks for the education.

 

[K5lwq]

Sounds like a good Dealer and that helps a lot. Being a E instead of the R series may hurt resale some. But with pricing nowadays who knows.

I think you would move it faster on their lot.