Used R4047

[hutchman]

I went to look at it today and was quite impressed. I think there is a grand total of 37 hrs on it! I was also getting the impression that might deal a little:cool2:
The guy who showed it to me was selling it for his brother, he didn't know a whole lot of the operation of it. After calling the local LS dealer we found the valve for the hydraulics for the backhoe doesn't stay locked on...we used a bungee to hold it. The LS dealer said there was a mod to make the valve stay in position. Other than that it was like a new tractor....I'm psyched! Now I have to figure the best way to finance. Any suggestions? Is there anybody who specializes in financing used tractors? I would use my home equity but need to keep that free for right now.

Here's a pic from today
View attachment 440724

Here's a pic

I think that tractor is hot/stolen. You need to let me know where it is so I can buy - I mean investigate it.

 

[dirtymartini]

I think that tractor is hot/stolen. You need to let me know where it is so I can buy - I mean investigate it.

I'll let you know where it is right after I pick it up :laughing:

 

[hutchman]

I'll let you know where it is right after I pick it up :laughing:

I think you will be miserable with that. It will be too big and too powerful. Once you realize this we might be able to work out a trade for my R3039 w/backhoe (and the uber subframe for the backhoe I'm currently building)

 

[hutchman]

.... Now I have to figure the best way to finance. Any suggestions? ...

Do you have a 401k at work? Borrow against it and pay yourself back.

 

[ozley]

Do you have a 401k at work? Borrow against it and pay yourself back.

That is bad thought maybe if you were a to lose your home but for a tractor not unless I knew 100% what tomorrow brings.

 

[dirtymartini]

That is bad thought maybe if you were a to lose your home but for a tractor not unless I knew 100% what tomorrow brings.

This !^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

 

[hutchman]

That is bad thought maybe if you were a to lose your home but for a tractor not unless I knew 100% what tomorrow brings.

Some would say it would be using 'your' money now before the global collapse ... which if it happened would mean it would totally go away so why not make it work for you now. I'm not saying it's a good idea ... just saying it's an idea. OP has to decide based on his situation.

*Edit: I'm obviously not a financial advisor!

**Edit2: Wow, that does suck. I've heard of co-workers doing it but didn't know the details so I just looked them up real quick.
1. If you lose you job you have like 60 day to repay the money (that's the biggest one to me).
2. You have to pay income tax plus 10% penalty so could be 30+ %.
3. ... plus forfeit potential earnings while paying back loan (I knew that one).

 

[ozley]

Some would say it would be using 'your' money now before the global collapse ... which if it happened would mean it would totally go away so why not make it work for you now. I'm not saying it's a good idea ... just saying it's an idea. OP has to decide based on his situation. *Edit: I'm obviously not a financial advisor! **Edit2: Wow, that does suck. I've heard of co-workers doing it but didn't know the details so I just looked them up real quick. 1. If you lose you job you have like 60 day to repay the money (that's the biggest one to me). 2. You have to pay income tax plus 10% penalty so could be 30+ %. 3. ... plus forfeit potential earnings while paying back loan (I knew that one).

So does that mean you would do it?
Edit: For a tractor.

 

[hutchman]

So does that mean you would do it?
Edit: For a tractor.

Uh, no. Not after learning all that!

 

[hutchman]

To spoof Argo ... that's the worst good idea I could come up with

www.youtube.com/watch?v=h6H454-u4yI

 

[dirtymartini]

So does that mean you would do it?
Edit: For a tractor.

As much as I would like to buy this tractor I would not rob my 401k...aside from the penalties you are also lowering the principal which will affect the compounding effect in years to come.

 

[BlessedMess]

Now I have to figure the best way to finance. Any suggestions? Is there anybody who specializes in financing used tractors? I would use my home equity but need to keep that free for right now.

Beautiful tractor! Hope it works out. A few thoughts since the 401k and home equity options are less attractive.

A) My best rate for a tractor loan was thru a credit union... maybe check online or call one up to see what their rates/qualifications are for used equipment? If you have military status many FCUs operate nation-wide via mail regardless of your residence.

B) If you have a paid for vehicle (or almost paid for vehicle), you may be able to refinance its book value at 2% or less (again, credit union may have better rates).

C) Depending on your credit score and income, some lenders offer substantial unsecured loans.

D) Get one of those airline credit cards and earn a bazillion points, then do option A or B above before the first payment is due? LOL

Whatever you do, may want to act fast. If/when the Fed raises interest rates your payment will go up and/or loans may be harder to obtain.

 

[dirtymartini]

Beautiful tractor! Hope it works out. A few thoughts since the 401k and home equity options are less attractive.

A) My best rate for a tractor loan was thru a credit union... maybe check online or call one up to see what their rates/qualifications are for used equipment? If you have military status many FCUs operate nation-wide via mail regardless of your residence.

B) If you have a paid for vehicle (or almost paid for vehicle), you may be able to refinance its book value at 2% or less (again, credit union may have better rates).

C) Depending on your credit score and income, some lenders offer substantial unsecured loans.

D) Get one of those airline credit cards and earn a bazillion points, then do option A or B above before the first payment is due? LOL

Whatever you do, may want to act fast. If/when the Fed raises interest rates your payment will go up and/or loans may be harder to obtain.

Roll Tide! My Mom and Brother live between B'ham and Gadsden

I could do the personal option at my local bank for 7.75%, I'm waiting to see what farmbureaubank has to say. They are at 5.13%

 

[dirtymartini]

One step closer...Farm Bureau Bank just approved me at 6.13% A little higher than I hoped but I can always pay off early. Just waiting for the check....

 

[Citydude]

One step closer...Farm Bureau Bank just approved me at 6.13% A little higher than I hoped but I can always pay off early. Just waiting for the check....

Congrats!

 

[hutchman]

One step closer...Farm Bureau Bank just approved me at 6.13% A little higher than I hoped but I can always pay off early. Just waiting for the check....

Excellent! You'll be posting pictures and videos of it before you know it.

 

[BlessedMess]

Roll Tide! My Mom and Brother live between B'ham and Gadsden.

Beautiful area... the Mrs and I liked all the rolling hills, wide open areas, lakes and rivers when passing thru a few months back. And hats off to nearby Jackson State for (almost) beating Auburn... our two favorite teams are Alabama and whoever is beating Auburn :-D

Congrats on your tractor loan, and hope you enjoy your LS as much as I have. Today I did odd jobs with the backhoe, loader, and finish mowed a field... you'll appreciate that BH and (if it's like the XU) they're not too hard to get off... ~5 minutes . Putting it back on is a little more tedious...

 

[dirtymartini]

Beautiful area... the Mrs and I liked all the rolling hills, wide open areas, lakes and rivers when passing thru a few months back. And hats off to nearby Jackson State for (almost) beating Auburn... our two favorite teams are Alabama and whoever is beating Auburn :-D

Congrats on your tractor loan, and hope you enjoy your LS as much as I have. Today I did odd jobs with the backhoe, loader, and finish mowed a field... you'll appreciate that BH and (if it's like the XU) they're not too hard to get off... ~5 minutes . Putting it back on is a little more tedious...

Thanks BlessedMess, I'm looking forward to it. Just waiting for the check to be mailed to me. I'll post pics when I get it.

 

[ozley]

Thanks BlessedMess, I'm looking forward to it. Just waiting for the check to be mailed to me. I'll post pics when I get it.

Enjoy yourself and good luck with trouble free hours.

 

[dirtymartini]

Went to pick it up today and the trailer I borrowed was too small (short) I did notice that when driving the 4047 with the backhoe attached the front end was very light, I had a hard time steering while maneuvering to load up. Is that normal with the backhoe attached? I guess I could have used the split brakes to help out but was just surprised at how light the front end was.

Now I'll be picking it up Friday.