1st payment done

[bigbull338]

this is my boards are so informative.every1 has their own opions an reasons for what they do.i know this man that made his last payment on his farm when he was 85.he spent 70yrs growing an expanding his farm.then when he was 92 or 93 he bought some more land.

 

[leonz]

Happy New Year to all,


Good advice all around as if you have the working capital available its better to buy machinery outright and limit your debt load.


Now Ii have ot drag the original build Isuzu from out back and have it put on the lift to get the oil and filters changed and then to the fab shop to get the frame fixed so it will pass inspection. If it had not been exposed to salt for so many years it would be in better condition but repairs cost much less money to replace what ever needs to be repaired.

I am not about to scrap it as its still in good condition and needs work that I can afford to do now.

Of course if some one needs an OEM 4 wheel drive 1995 Isuzu with the 2.6 liter engine-

It has a slightly less than new radiator, fuel tank, fuel pump, catalytic converter, original wheels, replacement wheel bearings to change out the old ones. The 4 snow tires only have one season on them, the truck has 112,000
miles on it with no engine trouble or manual transmission trouble for the 13 years I had it on the road, it has the manual lock out hubs too.

 

[TripleR]

I knew you would take my post as intended. Discussion and not argument between friends.:thumbsup:
I have to smile about my buying so many cars and so many tractors. I as you have had to watch the bottom line most of my life and still have to but........as with you there has to be some reason for saving here and there. it's so we can buy things we want and don't need and feel OK about it. Knowing we saved $7500 on the house financing that we had to have justifies a $12500 RTV that we want. I have always shopped and researched for the best price on those 130 cars and 12 Kubotas!!!
I have a not reasonable but still there phobia. I grew up in the 60's when cars were better, not. You had to keep a big screwdriver to jump the solinoid and a good spare tire and some water for vapor locks and always two big friends to help push. When a car nears 40000 miles I'm afraid to take it out of town. Not logical but it's still there.
I to look forward to your responses on this forum and respect your many years of tractor ownership that exceed mine by probably 5x. I know you know the farm side and the around the house use which is my use. I don't do farms and never have. We did have a small garden this past year and plan on another one next year but sure don't need a tractor for it.
HAPPY NEW YEAR, My Friend.:thumbsup:

I am 63, so I grew up with those old cars and wound up walking a lot and sure know what you mean.

Don't over estimate my knowledge or experience; always learning how much I don't know.

Happy New Years John.:thumbsup:

 

[TripleR]

Happy New Year to all,


Good advice all around as if you have the working capital available its better to buy machinery outright and limit your debt load.


Now Ii have ot drag the original build Isuzu from out back and have it put on the lift to get the oil and filters changed and then to the fab shop to get the frame fixed so it will pass inspection. If it had not been exposed to salt for so many years it would be in better condition but repairs cost much less money to replace what ever needs to be repaired.

I am not about to scrap it as its still in good condition and needs work that I can afford to do now.

Of course if some one needs an OEM 4 wheel drive 1995 Isuzu with the 2.6 liter engine-

It has a slightly less than new radiator, fuel tank, fuel pump, catalytic converter, original wheels, replacement wheel bearings to change out the old ones. The 4 snow tires only have one season on them, the truck has 112,000
miles on it with no engine trouble or manual transmission trouble for the 13 years I had it on the road, it has the manual lock out hubs too.

Leon that sure is tempting.

When I was much younger I needed a work car and my brother took three Volkswagens he had at his shop and made one for me. It was red, gray and blue. After a little good natured ribbing by my fellow Officers, I took it to a Vocational Technical school and had them shoot it with what they had on hand. I learned later they would have beat some of the dents out; too late. I drove that thing for years; heck it may still be going somewhere.

 

[leonz]

Hello Larry happy New year,

Its still sitting out back until I borrow my brothers
winch monday to pull it from the back lot as the
fuel filter is plugged and I cannot crawl under it
to change it.


If the frame is still in good condition-

Once I get the frame welded and the brake and
clutch lines fixed its going back on the road as
I can still buy parts for it- I bought a new battery
fuel and air filter for it last week and its obviously
starved for fuel as it will start.

I ma just glad The chipmonks did no damage
other than eating at the air filter.

But-

All depends on whether it stays as a off the road
farm truck or I check my lottery tickets or both.

I do need new fenders a muffler and a new tail pipe

The gear box and transfer case would save someone a
fortune if it was used for a motorised logging winch
as the axles are still in excellent conditon.


Short of that stripping it for a generator build
for anybody it would be worth
the money as I have all new parts
and buzz box welders are
not that expensive to own.


leon

 

[crazyal]

I say to each their own. If you don't have the money and can afford the payments then go for it. If you have the money and want to play the game of, can I make more money if I make payments then go for it. Of course if you want to borrow money in the future the downside could be too high of a debt load forcing you to pay it off. If you want the feeling of not having to pay each month then just buy it.

Each option has it's pluses and minuses. And everyone is in a different situation. What amazes me is when some who doesn't know you or your finances can say that you picked the wrong option. Add to it if you bought the tractor for a business or a farm.

 

[JJZ 109]

What amazes me is when some who doesn't know you or your finances can say that you picked the wrong option.

Which is pretty much what I was thinking when I said:

There's no right or wrong answer. Each individual has his/her own reasons for the way they operate.

As John and Triple R state, they're opinions. Doesn't necessarily mean that we have to agree with all of 'em. Or any of them for that matter.

 

[TripleR]

Hello Larry happy New year,

Its still sitting out back until I borrow my brothers
winch monday to pull it from the back lot as the
fuel filter is plugged and I cannot crawl under it
to change it.


If the frame is still in good condition-

Once I get the frame welded and the brake and
clutch lines fixed its going back on the road as
I can still buy parts for it- I bought a new battery
fuel and air filter for it last week and its obviously
starved for fuel as it will start.

I ma just glad The chipmonks did no damage
other than eating at the air filter.

But-

All depends on whether it stays as a off the road
farm truck or I check my lottery tickets or both.

I do need new fenders a muffler and a new tail pipe

The gear box and transfer case would save someone a
fortune if it was used for a motorised logging winch
as the axles are still in excellent conditon.


Short of that stripping it for a generator build
for anybody it would be worth
the money as I have all new parts
and buzz box welders are
not that expensive to own.


leon

Leon, I think you beat the heck out of me on getting the full use out of a vehicle.

I had a 1978 Datsun pickup that I had run into the ground after rebuilding the engine twice. My job required a reliable vehicle, so I reluctantly parked this one out on our farm were it sat for about five years. My niece's husband asked about buying it one day. I liked my niece so advised him against it, but if he wanted it he could have it. I will be darned if he didn't get that old truck running and drove it for several more years. Of course he was a mechanic and had a backup vehicle, but man you should have seen that thing before he got a hold of it.

My brother has an old Mazda pickup he fixed up for use around the farm, old vehicles seem to be able to last almost forever if you know how to work on them. I am not that good of a mechanic, so I have to bail at about 200k miles or so.

 

[montelatici]

Absolutely terrible financial advice in the context of a no interest loan. A rank amateur will easily be able to earn 5% a year investing in any 4 star diversified mutual fund. If you take 25K cash on hand and spend it on a 25K tractor instead of investing it you will lose $6,250 unless the dealer gives you a $6,250 discount for paying cash. Sheesh, come on people, think.

 

[smstonypoint]

A rank amateur will easily be able to earn 5% a year investing in any 4 star diversified mutual fund.

Extraordinary claims require extraordinary proof.

Blanket claims such as this are, how shall I put it, ........BS.

Depending on the time period under consideration, many 4 star funds have lost value during a year.

BTW, per post #13, I'm still waiting for you to provide your account records for the last 10 years in which you earned 15% or more each year.

And, since you can apparently always beat the market, please post your predictions for Dec 31, 2011 of the following:

S&P 500
DJIA
NASDAQ
the spot price of gold (you pick the market)
the spot price of silver (you pick the market)
the spot price of copper (you pick the market)

Steve

 

[vaskeet]

well I took the money that I was going to pay for the tractor with and paid off other bills and will use the 0%. Even if the only bill you have is your house payment it still makes sence to me to get as much at 0% as I can and put my available cash on the principal of the house/property. There is 4.5 or more % If you have any credit cards or other loans it could save you some big bucks. By the way I run my cars/trucks until they fall apart I have a 94 ranger 180000 miles a 98 ram 1500 190000 miles a 06 ram 2500 diesel 70000miles a 07 honda 85000 mile and just junked a 96 avalon with 370000 miles. but I shoot skeet with a krieghoff K80

 

[JJZ 109]

well I took the money that I was going to pay for the tractor with and paid off other bills and will use the 0%. Even if the only bill you have is your house payment it still makes sence to me to get as much at 0% as I can and put my available cash on the principal of the house/property. There is 4.5 or more % If you have any credit cards or other loans it could save you some big bucks. By the way I run my cars/trucks until they fall apart I have a 94 ranger 180000 miles a 98 ram 1500 190000 miles a 06 ram 2500 diesel 70000miles a 07 honda 85000 mile and just junked a 96 avalon with 370000 miles. but I shoot skeet with a krieghoff K80

Your motives sound reasonable to me, but I'm sure that the resident financial wizard of this topic will come along to tell you that you're mistaken. :2cents:

 

[JOHNTHOMAS]

well I took the money that I was going to pay for the tractor with and paid off other bills and will use the 0%. Even if the only bill you have is your house payment it still makes sence to me to get as much at 0% as I can and put my available cash on the principal of the house/property. There is 4.5 or more % If you have any credit cards or other loans it could save you some big bucks. By the way I run my cars/trucks until they fall apart I have a 94 ranger 180000 miles a 98 ram 1500 190000 miles a 06 ram 2500 diesel 70000miles a 07 honda 85000 mile and just junked a 96 avalon with 370000 miles. but I shoot skeet with a krieghoff K80

To me this is the best financial option.:thumbsup: Mentally, not financially, the driving vehicles that long would kill me, notice I said mentally and not financially. There is a difference in good mental health and financial health..

 

[TripleR]

Giving really good "one size fits all" financial advice not knowing someone's full details is almost impossible. My niece is a CPA for one of the largest financial companies in the country who deals with multimillion/billion dollar accounts, my sons, son in law and others are business owner/operators, we have rent houses, farms, LLC and some of the professional advice given often seems counter-intuitive, but it works out in the long run.

I am sure glad I don't have to depend on my own financial acumen.

Just an observation; not aimed at anyone in particular.

 

[JJZ 109]

Giving really good "one size fits all" financial advice not knowing someone's full details is almost impossible. My niece is a CPA for one of the largest financial companies in the country who deals with multimillion/billion dollar accounts, my sons, son in law and others are business owner/operators, we have rent houses, farms, LLC and some of the professional advice given often seems counter-intuitive, but it works out in the long run.

I am sure glad I don't have to depend on my own financial acumen.

Just an observation; not aimed at anyone in particular.

That's right Triple R. Everyone has a different financial situation. Then there's also the issue that John brings up about mental and financial health not necessarily always meshing. :laughing:
When I was in the process of setting up a business the first thing I did was to spend some time with my accountant. Time well spent.
On the personal finance side of things, I have an advisor who's done well in my book. I don't have the time to evaluate different mutual funds and other financial vehicles. These guys do this day in and day out so I turn to them. They don't tell me how to hang gutters and I don't suggest investments or tax strategies to them. :thumbsup:

 

[rScotty]

Absolutely terrible financial advice in the context of a no interest loan. A rank amateur will easily be able to earn 5% a year investing in any 4 star diversified mutual fund. If you take 25K cash on hand and spend it on a 25K tractor instead of investing it you will lose $6,250 unless the dealer gives you a $6,250 discount for paying cash. Sheesh, come on people, think.

Ah....I wish it were so easy, but it isn't.

I do agree that it's easy in hindsight for anyone to see how they could have made a small profit over a short period of time.

But in my experience it takes real work in real time to do more than merely break even....and a bit of luck helps too. In fact, it can be eye-opening and sometimes discouraging realizing how often a bit of luck is just as important as any other factor.

Here's some solid advice on whether to use Kubota's financing or not:
Take the price of the tractor and compare that to what your local bank will pay you if you buy a bank CD for the same amount of money over the same finance period. That will give you a usable dollar number for how much Kubota's 0% financing is worth on the market today. Then structure the deal to fit your own situation.

But don't let any of this stop you from getting a tractor. Some things are just too important to miss out on.

good luck, rscotty

 

[logdog]

But don't let any of this stop you from getting a tractor. Some things are just too important to miss out on.

Aint that the truth!:thumbsup:

 

[TripleR]

That's right Triple R. Everyone has a different financial situation. Then there's also the issue that John brings up about mental and financial health not necessarily always meshing. :laughing:
When I was in the process of setting up a business the first thing I did was to spend some time with my accountant. Time well spent.
On the personal finance side of things, I have an advisor who's done well in my book. I don't have the time to evaluate different mutual funds and other financial vehicles. These guys do this day in and day out so I turn to them. They don't tell me how to hang gutters and I don't suggest investments or tax strategies to them. :thumbsup:

Don't I know it, on that John and I agree. There are times I will over rule my financial advisor because I want something that may not makes the best of financial sense. I am old enough and have learned enough however never to put our financial health/stability at jeopardy. Overall, it would make more financial sense to sell some of of our tractors, bush hog much less often and pay to have someone else do much of the work. I did now however retire to sit around and rot nor did we buy these farms to make money; we enjoy it.

 

[crazyal]

Absolutely terrible financial advice in the context of a no interest loan. A rank amateur will easily be able to earn 5% a year investing in any 4 star diversified mutual fund. If you take 25K cash on hand and spend it on a 25K tractor instead of investing it you will lose $6,250 unless the dealer gives you a $6,250 discount for paying cash. Sheesh, come on people, think.

On more than one occasion rank amateurs have lost lost their shirts too because of bad advise. How many more Bernie Madoff type people are out there? I bet in November of 2008 brokers would have said "that's a safe place to put your money, a Madoff fund is as good as gold", we now know how that turned out. Rank amateurs are best not investing money they can't afford to loose.

 

[crazyal]

Ah....I wish it were so easy, but it isn't.

I do agree that it's easy in hindsight for anyone to see how they could have made a small profit over a short period of time.

But in my experience it takes real work in real time to do more than merely break even....and a bit of luck helps too. In fact, it can be eye-opening and sometimes discouraging realizing how often a bit of luck is just as important as any other factor.

Here's some solid advice on whether to use Kubota's financing or not:
Take the price of the tractor and compare that to what your local bank will pay you if you buy a bank CD for the same amount of money over the same finance period. That will give you a usable dollar number for how much Kubota's 0% financing is worth on the market today. Then structure the deal to fit your own situation.

But don't let any of this stop you from getting a tractor. Some things are just too important to miss out on.

good luck, rscotty

Don't forget Kubota is offering a discount for paying cash (at least the last time I looked they were). When I bought it was $1000.

I agree do what you feel comfortable with and get the tractor that fits your needs.