Why buy new

[ch1ch2]

Keep my money in the bank? The Interest charges don't even cover the Service Charges like they did, even a few short years ago.

I am old school. Put the money in the bank! Save, Save, Save.
Retire early kick back or Go, Go, Go.
You can afford it.

When you want a tractor, you can go buy a new one or you can wait around and find the used one you want.

You can afford to do what you want.

Too many people out there whom need instant gratification. Instant gratification is expensive.

 

[Newby first timer]

So, that project should have paid for the tractor. I mean, if you had the money for the project.

Just like pick up trucks, I can't help think that all the people that don't pay for these things off the lot, are adding significantly to the price. I mean, if you don;t have to put the cash on the table, who cares if it's 60 or 80 grand? Sure, throw in the leather seats, it's only another fifteen bucks a month, oh sorry 7.50 biweekly, Ridiculous. People think they are getting such a GOOD, 0% DEAL! They are paying for finance, believe it or not and paying a higher price by a great margin, for this whold "system" of getting stuff now and paying for it later, if you ask me.

OK
I will admit that I am a Moron for not wanting to put a second mortgage on my home to pay a contractor to do the work that I can do myself with the proper equipment.

It was my decision to invest in the equipment that I will use the rest of my life.
I do know that the 0% financing is not with out cost.

Yes I am the biggest Moron on the face of the earth for my bad decisions but I pay for those decisions and no one else.

 

[Industrial Toys]

I will never forget a financial advisor in the late 70s told me. There are only two kinds of people, those that earn interest and those that pay interest. Well I did kind of invent a third, for I really don't have much money, but don't owe any either.

I guess it all depends on how much money a person has. Some people pretend that, they don't believe in using their money and go with 0%, when they really don't have any. A business is another story. They may wish to use their money for other things and the interest on a loan is tax deductible, big difference compared to the private individual.

I don't know about the US, but Canadians are up to their eyeballs in consumer debt. Soon, it would not surprise me, if you just go from one car loan to another, never owning the vehicle.

 

[heavy hammer]

I believe it doesn't matter if you buy new or used, payments or cash purchase if the one buying can afford the purchase, and if the seller if happy with price. Then it will work out, everyone has their opinions on how to spend money, and save money. Everyone's situation financially is a little different, from the posts I have read here pretty much everyone has good reasons for how or why they made their tractor purchases. It seems like most are pretty happy with their current situation as well, so maybe their is know right or wrong way. Just the way that works for that tractor owner.

 

[Geotech]

I believe it doesn't matter if you buy new or used, payments or cash purchase if the one buying can afford the purchase, and if the seller if happy with price. Then it will work out, everyone has their opinions on how to spend money, and save money. Everyone's situation financially is a little different, from the posts I have read here pretty much everyone has good reasons for how or why they made their tractor purchases. It seems like most are pretty happy with their current situation as well, so maybe their is know right or wrong way. Just the way that works for that tractor owner.

I agree. However irritated I get reading soap box posts, these conversations still benefit folks by presenting multiple considerations which are applicable situations beyond tractor purchases.

 

[falfrenzy]

Am I the only one tractor buyer who believes that cash (actual stacks of $100's) should get a discount? Because I do.

I start the negotiation on a piece of equipment stating I want to finance it, preferably thru their dealership.

Then after they are salivating thinking they can get a bigger ski boat, I walk out the door with papers in hand to sleep on it. I then call them the next morning from home with papers in front of me and ask for their cash price. If they are smart, they'll call me back with a fair number. If they're scum, they'll back pedal for a mile with excuses.

It outs a lot of sleazy dealers/sellers, I'll tell you that.

 

[heavy hammer]

I agree 100% Geotech!

 

[Industrial Toys]

I am no financial expert. But all these "CREDIT" companies, associated with the big manufacturers, are they all just not for profit companies staffed by volunteers? After all, there isn't any profit in 0%, is there? Who then pays for the bricks, mortor, electricity and computers? It's a serious question.

 

[Code54]

While I agree with some of the posts about it is better to save and buy than finance BUT with that said - think of what it saves you financing. I needed the driveway built - contractor wanted well over $2,000. So I can buy the tractor and did it myself for about $100 bucks. So buying it with the "0%" was a BIG savings at the time. I bought a house in the country, a trailer and a tractor all within a month so having cash to buy anything (new or late model used) was not an option. So I did the driveway, was able my mow my yard, did some brush hogging, leveled the yard for a patio, prepped an area for a shop all in the 3 years I had the 0% financing. Was it worth it - HECK YES. I would have spent well over 10K or more just on those jobs so the "extra" I paid was more than made up. Something to think about for the group that says "never finance" - there is a time and place and each person has to look at their exact situation to decide what is best for them.

 

[fried1765]

I will never forget a financial advisor in the late 70s told me. There are only two kinds of people, those that earn interest and those that pay interest. Well I did kind of invent a third, for I really don't have much money, but don't owe any either.

I guess it all depends on how much money a person has. Some people pretend that, they don't believe in using their money and go with 0%, when they really don't have any. A business is another story. They may wish to use their money for other things and the interest on a loan is tax deductible, big difference compared to the private individual.

I don't know about the US, but Canadians are up to their eyeballs in consumer debt. Soon, it would not surprise me, if you just go from one car loan to another, never owning the vehicle.

"Soon it would not surprise me, if you just can go from one loan to another, never owning the vehicle".

People already number in the millions who "trade up", before paying off their existing car loan.