The big decision

[NotRealName]

I found a deal on a new machine that I thought was out of my league. /forums/images/graemlins/laugh.gif

It will clear out my savings, and take a few months to build up enough to just breath again./forums/images/graemlins/shocked.gif

But the payments are manageable.

This happened while looking at a used & somwhat older but reliable machine. For both the seller is trustworthy. And both are very similar in capabilities, but the newer is about 10 horse larger and more "modern."

The used machine will do nearly as much damage to the savings (3/4 the downpayment). It will cost 75% the monthly payments of the new machine, and is priced around 2/3 the new one (new has much better financing).

I want the newer one, my wife wants me to save some money and get the used one. /forums/images/graemlins/mad.gif

She wont blow a gasket if I go with the one I want. But if things get tight... /forums/images/graemlins/blush.gif

What would you do? /forums/images/graemlins/confused.gif

 

[RoyJackson]

First..why do you want a tractor?

What size tractor is it? Do you want all the "bells and whistles" of the newer machine? Do you intend to keep the tractor for a long period of time?

I've bought two tractors...both were used and were, IMHO, good deals. Since my last one had such low hours (had it heading for two years now and just cracking 100 hours), I expect my widow to sell it after I'm gone.
Anyway, I'm rambling...

If the payments are going to be "manageable", and you're not buying more tractor then you need, I'd go with the lower payments of the used machine. This assumes you don't need a warranty and the tractor is one of the "Big Three" models.
If it's not one of the "Big Three", I'd probably go for the new tractor.

Your comment "if things get tight" indicates buying this tractor may be a financial burden and, you may get into a position where you'll have to sell. If that happens, the new tractor would be going up against new tractors with better financing for the buyer. You'd probably take a heck of a loss if you had to sell quickly. I suggest you consider that implication. The used machine has probably seen it's major depreciation...you would not lose as much if a quick sale is necessary.


If I were a gambling man...I'd wager you'll buy the new tractor, regardless of what you read here...

 

[beenthere]

Welcome to the forum.
I'd go new. Used is always (nearly) someone else's troubles or they would still have it.
But that is just me. If times get tough, the new is probably going to be easier to 'sell' to recover financially than would be the 'used' and older one.

Without any more to go on, that's what I would do if in the same spot. You sound frugal enough to re-fill the savings after it is emptied.

 

[IslandTractor]

I disagree that used is nearly always someone else's troubles. Lots of used tractors are sold because people decide to buy bigger or sell the land they had etc. A few hundred hours on a tractor is nothing and you'd have to really abuse a modern tractor in that time to in any way shorten it's (long) expected useful service life. Save the bucks if you can.

 

[kozak]

Welcome to TBN & stay awhile.

We need more info. How many hours on old machine ? If greater than a thousand hours I would go with new as you would also be getting a decent warranty.

What are the two Manufacturer's you are comparing against or are they the same make ??

A 10 HP difference between the two means the new one is a step up in frame size & weight. Do you need that much Tractor ?? Having said that, I always recommend going larger if undecided between sizes but we have no idea what you need the Tractor for. Will you be doing alot of FEL work, brush hogging, etc or just lawn maintenance ??

Do you have a place to shelter your new machine if you get it ? If not, are you ready to fork out more for building something ?? Would be a shame to get a spanking brand new TRACTOR only to leave it out in the elements !!

 

[jwstewar]

In addition to whatever body else said, I will also mention warranty. If the used one is out of warranty, one repair bill and you could be right back to the cost of the new. Possibly even w/o a tractor for awhile as if you truly depleat your savings on either one, you might have to save up for awhile to be able to afford to fix it. Where w/ the new one, everything will be covered for 2 - 3 years. Now if the used still has a bit of a warranty that might be a different story.

 

[BruceNorthEast]

Roy:

<font color="blue">"If I were a gambling man...I'd wager you'll buy the new tractor, regardless of what you read here..."</font>

Thanks, I needed that. I came across a deal on a machine that I really want but not necessarily what I should get, and it's been costing me a lot of anxiety and lost sleep these past couple of weeks. I've been more emotional than rational, and that's where mistakes happen.

If anyone wants to continue to follow this, please see my post in the New Holland forum.

And sorry for the charades.
Bruce.

 

[rk246]

I think you could get a good tractor used, but you can also get one that someone has worked for everything it was worth, maybe was marginal on the maintenance, not everyone takes good care of stuff.... That is enough to make me go new, unless I know who I am buying from...