Very slightly used BX2230

dave91991 · Aug 17, 2004

Have a chance to buy a 2004 BX2230 with a 60 in mower and front end loader that was purchased new in Dec 2004 and has a total of only 19 hours use. The mower has never been used. Has been stored in a garage and looks and drives like brand new. Guy bought it expecting to get a couple of major landscaping jobs and then he lost the bids, and now he is desperate to sell because he needs to pay off the tractor loan as he is in the process of buying a new home. He originally was asking $11,700 but has agreed to sell for $10,000. Seems like a no brainer and a great deal. Am I missing anything here?

Inspector507 · Aug 17, 2004

He may have purchased it in Dec '03, but not '04

OrangeGuy · Aug 17, 2004

Sounds like a great deal. Just make sure all liens are paid off when you purchase it.

OrangeGuy

dave91991 · Aug 17, 2004

Yep, it was purchased in Dec '03. Good point about the lien being cleared. He said he still owed $12,500.

Junkman · Aug 17, 2004

If he owes $12500 and wants $10,000 for it, then ask him to give you the tractor and a $2500 bank check made out to the finance company and then you put your $10,000 check with that and make sure that it is paid off. My guess is that he doesn't have the $2500 to pay it off and will take the $10,000 and send it to the finance company and continue to make the payments hopefully. I would be very leery of a deal like this and would want to discuss it with the finance company with him there. They won't give you any information, but they will give it to him. Any chance that you could get the finance company to assign the loan to you and he pays it down by the $2500? Many ways to skin this cat, you just have to be creative not to get burned. /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif

bam · Aug 18, 2004

I wonder what he paid for it...$12,500 is a typical price for this tractor, though he should have made 8 payments on the tractor. Something may be fishy with this deal.

theboman · Aug 18, 2004

Or maybe he chunked down a couple thousand down!

Bob_Yohon · Aug 18, 2004

I'd jump all ove this deal and make sure you CYA as mentioned here. I'd be sure to get some private info from him before you go through with this. A payment book or the original receipts ect....

GntlmnFarmer · Aug 19, 2004

If you can manage to sit down with him and a finance person you may want to find out if his financing is assumable. It usually isn't, but since they are still running financing till the end of this month and since the tractor is new enough they may let you do it. That would clear the lein off of him and put it on you. The only thing better than that tractor at $10,000 is that tractor for $10,000 interest free for the next 36 months!

Jeff

DannyD · Aug 19, 2004

Good responses from all. One thing, with YOU present ask him to pull up his account on the internet Kubota finance site. That way you will have a full picture of what is up here. He can set one up and it will be the most updated info you can get short of calling them on a speaker phone with him present of course. If he objects, dont make the mistake.