Should I keep or sell

JMER817 · Apr 16, 2009

Hey guys...I need some advice. I bought a 2002 JD 4310 3 years ago for $14K (included 430 loader, JD 6ft brush hog, ballast box). Only had 32hrs on it. (currently has 160hrs and is showroom clean - garage stored) Yes I know I stole it. I no longer have a need for it. (I do find uses for it, but to be honest could do without) I do plan on purchasing some property in 3-4 years where I will need a tractor again. So I am debating about selling it. Sure could use the money (recent paycut). Pricing out a new similar model 3320 runs around $21K and I'm sure will be more by then. Is not using the tractor bad for it? (seals, belts, hoses, tire deteriation) need some opinions...should I sell or keep?

mjncad · Apr 17, 2009

I'd be tempted to keep it since you have plans for a future property purchase. I doubt you'll ever find such a bargain again.

If nothing else, just go run it a few hours now and then to keep it exercised.

smfcpacfp · Apr 17, 2009

Looking at it as a financial planning problem, you should sell the tractor if you can invest the proceeds at a rate of return that will allow you to buy a tractor like you have now in the future when you need it, and have some money left over. Otherwise keep the tractor.

If you owe money on it and your pay is cut, then selling it will reduce your risk and stress

Thomas · Apr 17, 2009

Tough question on selling,go w/your gut feelings.
I agree,take the tractor for spin 3 plus times month kep thing loose and stir up...like the old saying goes, "If you don't use it you'll loose it"

AKfish · Apr 17, 2009

There are many tractors still in use that are 50-60 years old. And 30 year old tractors that are still worked hard as primary machines.

Your JD will be still runnin' just fine when your son or daughter want it for their place.

If you don't "need" the money at this moment - keep the tractor! It's a buyers market right now and you're not gonna get what the tractor is really worth; even though you only paid a song for it.

We all have enough of those times when we look back and "give ourselves a good kick". IMO - this has the potential to be one of those "good kick" times.

Best of luck.

AKfish

chh · Apr 17, 2009

If I owed money on it and it would make things easier to get by, I'd try to sell it. If I didn't and still had any use for it at all (so that it would get run some), I would try to keep it. That said I sure wouldn't give it away selling it either unless I was really desperate.

Diamondpilot · Apr 17, 2009

I would keep it even though I am not a JD man. It will be hard to find a clean replacement for that money. Does not sound like its costing you anything right now so just use it a few times a month to keep it lubed up.

As soon as you sell it if you can in this economy you will miss it and find uses for it, thats just the way it works. Also, there are tons of machines for sale right now so you will not get anywhere near top dollar for it.

Chris

kthompson · Apr 17, 2009

Is it possible you can find work with your tractor to help make up the pay cut? If you think you can, be sure to find out about licenses and insurance before you do price out the work.

NY_Mr Project · Apr 17, 2009

good luck, but opinion ONLY...sell it, try to keep the money you get for it in a seperate (interest earnign) account....

if you need the money you have it liquid, if you dont you have a deposit on a NEW, NO PROBLEMS, POSSILY BETTER tractor.

good luck

studor · Apr 17, 2009

In this economy cash and hard assets are king. Given the way the U.S. treasury is printing money, I think we are probably in for a good bit of inflation in the next few years. I am sure you will feel really bad if you sell it and we see double digit inflation

. Unless you need to sell it, hang on to it and wait untill some of the current economic problems abate. If you do sell it and have debt anywhere else -- pay off the debt. JMHO
regards