I read a lot through the buying/pricing/comparison forums and see that almost everyone recommends new over used. I also see where most folks on here end up buying new. I know it is not everyone but it seems more common. I agree that used tractors are very expensive.
1. Is it because it is harder to finance and folks don't have the cash?
I don't think so, financing has never before been so easy, or new things so much preferred over used.
2. Is it because folks don't want to pay that much for used?
Maybe. Or it might be that they don't feel comfortable with mechanical things or would rather do something other than fix things. Either way, they prefer the mechanical responsibility be on someone else.
3. If the used market is so expensive and no one wants to pay, why does the price stay high? Or are they selling for a lot less than listing price?
Could be there are enough guys - it wouldn't take many - who value a proven owner-maintained low hour tractor more than a new one backed up by an unknown mechanic and warranty by same.
I feel that way, and know others who do too.
4. Are the used tractors even selling or do they just sit forever and not sell?
That's a good question.... If it is like anything else, the good ones get sold by word of mouth and never are advertised. Just needing to be advertised in order to sell automatically moves the value down a notch in my book.
5. I read a lot of statements about certain brands having higher resale value. Does this even matter if no one wants to pay for it because the resale value is so high?
I'm thinking that the answer is the same as #4 above..
6. This might not relate but I see a lot if used chainsaws for sale that are way overpriced as well. I guess folks pay for it and folks selling think they are worth near new prices.
I don't think it relates either. Chainsaws are more use-it-up items. Tractors can last a lifetime and still have useful life and value.
Whenever I am ready to get rid off something, I usually put a decent price on it and it sells quickly. Maybe I need to up my price when selling and be willing to wait 6 months.
To each his own. I put a decent price on it and ask around. If it needs fixing, I fix it first. If I can't fix it, I make sure the buyer understands what that means, and price it accordingly.
rScotty