With great regret, The tractor must be sold.

[4570Man]

Are you saying that with the records you found you could have diverted the $5million to your accounts somehow. Seems to me it would have taken a lot of fraud for that to happen.

It would have and that’s why I didn’t. But yes commenting identity theft would have been easy. There was no clear cut option of claim 5 million or if you don’t want it turn it over to the state. I did end up finding a 3 digit sum of cash in the house, but I never took a single penny from the bank accounts. And really the house was mine and the contents had already been claimed so the small amount of cash was mine.

 

[R_Walter]

Does that include diet-Pepsi?

 

[Atchuuu]

Are you saying that with the records you found you could have diverted the $5million to your accounts somehow. Seems to me it would have taken a lot of fraud for that to happen.

It would have and that’s why I didn’t. But yes commenting identity theft would have been easy. There was no clear cut option of claim 5 million or if you don’t want it turn it over to the state. I did end up finding a 3 digit sum of cash in the house, but I never took a single penny from the bank accounts. And really the house was mine and the contents had already been claimed so the small amount of cash was mine.

Wrong! Committing identity theft and taking money out of the accounts would not have been easy. Assuming you were able to show up at a bank and withdraw the cash, which you almost certainly would not have been able to do, you would have been promptly caught and arrested. You would then be occupying another "new" home for committing a felony. In this case it sounds as if you would have been stealing money that belongs to the state.

Never steal money, the government hates competition.

 

[Atchuuu]

BFJ - Good for you! I think you are on the right track.

I can't understand all the hand wringing on this thread. It's a tractor. Nothing more, nothing less and it's not even one you are emotionally attached to. Deals on tractors are a dime a dozen. If and when you really need another tractor you can get one that fits you well now that you have some real life experience.

Since you have already determined you can do what you need with your smaller tractor it makes no sense, financial or otherwise, to let an asset just sit around being underutilized.

 

[BrokeFarmerJohn]

Well folks, today was a bitter sweet day.

It was bitter because I had to see my tractor be loaded up and off to a new owner.

It was sweet because by selling the tractor, I can pay off the tractor loan and most all other debts. I will save over $2500 in interest I don’t have to pay back now and free up over $750 a month that I was using to tackle debts. It would have been another 2-3 years at the rate i was going to have everything paid off.



I bought the 4320 for $24,000 with 832 hours on, I sold it 3 years later for $25,000 with 949 hours. I did lose some money paid in interest and I changed all the fluids and filters after getting the tractor. Financial loss was minimal after 3 years of use.

My use for this tractor was mainly on a hobby farm, my new workhorse will be a 960 Ford tractor, instead of having the loader, everything will be done with 3pt attachments. It will be less Convenient but I’ll manage. I gave $1800 for the 960. 40hp



I will get another loader tractor later down the road, but I won’t be financing that one, plan to pay cash. I have given enough money to banks/ lenders and I’m only 28.

 

[Doofy]

Kudos. Sometimes, circumstances dictate unpopular actions that can be sad and painful. Probably a wise decision and now you can get back on track. I see another TLB in your future when you are ready.

 

[HawkinsHollow]

Good choice!! That is a bunch of tractor to only be used for 39 hours per year. Great looking Ford BTW!!

 

[BrokeFarmerJohn]

Kudos. Sometimes, circumstances dictate unpopular actions that can be sad and painful. Probably a wise decision and now you can get back on track. I see another TLB in your future when you are ready.

Yeah it’s deff not an easy day, some guys have a truck they love, I have tractors lol.

I really really really didn’t WANT to sell it, **** it took me 6 months before I even came around to listing it after I ran the numbers on “what if” I sold it. I have sellers remorse now but that will fade in time after I’m not BrokeFarmerJohn anymore lol.

I might have to change my name on here lol

 

[BrokeFarmerJohn]

Good choice!! That is a bunch of tractor to only be used for 39 hours per year. Great looking Ford BTW!!

I was using it 50-75 hours per year but this past year I used it very little, went down to one steer and didn’t really have any projects going to run up hours.

There is many times where I could have easily used a bigger tractor or this one weighted down for loader work and different chores. I liked the size of the 4 family.

The 960 was one nail in the coffin for the 4320, once I got my hands on a 40hp tractor with a 3pt lift capacity that’s enough to move round bales, I proved to myself I can still do the hobby farm with much less tractor till I save up for another.

The other nails were a few tractors I bought after my grandpa passed away, he owned them and I bought them from his estate. If I didn’t buy both these tractors I could have paid the 4320 off this year. BUT the 960 and 4320 tractors can be easily found again, the two I bought this year aren’t as readily available. Both need work to run, the GP needs rebuilt and the Massey has a few stuck injectors.

They are 1929 John Deere GP and a 1960 Massey Ferguson 98 powered by a Detroit diesel, built by Oliver for MF. I was able to come up with the cash to buy them, but had no money to do anything with them lol. Now I will.

 

[Doofy]

Yeah it’s deff not an easy day, some guys have a truck they love, I have tractors lol.

I really really really didn’t WANT to sell it, **** it took me 6 months before I even came around to listing it after I ran the numbers on “what if” I sold it. I have sellers remorse now but that will fade in time after I’m not BrokeFarmerJohn anymore lol.

I might have to change my name on here lol

"Smart Farmer John" Clint Eastwood would say: "a Mans got to know his limitations". You made a decision to get out of debt and that is commendable. The younger you can figure how your finances, the better. The hard part is not reverting back to "Bad" money habits. Good Luck.