Torvy
Super Member
OK, I am back in Texas and will resume my series of questions about buying a compact tractor.
Today's question is about buying a used tractor. I am very well versed in used car buying, but there are some important things that I just don't know well enough in buying a used CT.
What I think I know...right now inventory is low for new tractors which drives up the price of both new and used. In many cases, it seems there is little difference in the prices between new and used. (I teach Econ, so that 100% makes sense with supply and demand). In a more 'normal' economy, buying used would make a lot more sense for a newby like me...now, I am not so sure. Our credit is good, so new tractors are likely to come with 0% interest. Loans for used tractors...not sure how closely they compare to auto loans, but used always has a higher interest rate. I prefer to buy used directly from someone I know rather than a dealer, but that may not be possible. Used has a lot more risk of hidden issues. On the other hand, with used you may be able to find options (or lack thereof) that are not possible on new tractors. There are a lot of variables, so answers to questions will always have caveats.
So, here are the questions:
1) How many hours per year would be considered low-medium-high usage? (obviously, this is only one aspect of value, but it is a quantifiable one)
2) What things can a novice look for on a used vehicle that are signs of misuse or neglect?
3) Are there any bits of sage advice you have for someone looking at a used tractor to reduce the risk a bit?
4) With a car, it is not uncommon to have an independent mechanic look over a vehicle before a sale. Is this a reasonable approach with a used CT?
Thanks in advance for all of your help. Y'all have been outstanding and patient with my questions so far.
Today's question is about buying a used tractor. I am very well versed in used car buying, but there are some important things that I just don't know well enough in buying a used CT.
What I think I know...right now inventory is low for new tractors which drives up the price of both new and used. In many cases, it seems there is little difference in the prices between new and used. (I teach Econ, so that 100% makes sense with supply and demand). In a more 'normal' economy, buying used would make a lot more sense for a newby like me...now, I am not so sure. Our credit is good, so new tractors are likely to come with 0% interest. Loans for used tractors...not sure how closely they compare to auto loans, but used always has a higher interest rate. I prefer to buy used directly from someone I know rather than a dealer, but that may not be possible. Used has a lot more risk of hidden issues. On the other hand, with used you may be able to find options (or lack thereof) that are not possible on new tractors. There are a lot of variables, so answers to questions will always have caveats.
So, here are the questions:
1) How many hours per year would be considered low-medium-high usage? (obviously, this is only one aspect of value, but it is a quantifiable one)
2) What things can a novice look for on a used vehicle that are signs of misuse or neglect?
3) Are there any bits of sage advice you have for someone looking at a used tractor to reduce the risk a bit?
4) With a car, it is not uncommon to have an independent mechanic look over a vehicle before a sale. Is this a reasonable approach with a used CT?
Thanks in advance for all of your help. Y'all have been outstanding and patient with my questions so far.
