Farm Pro/Jinma Tractors---resale value

[dancce]

In the thread below, a statement was made about taking a "big hit" when reselling these tractors.
As a dealer, I hear this frequently, and it kind of sets me off---or should I say---it gets me on my soapbox.
Think about it-----just how much of a hit can there be on a $4000 (that was a figure that was mentioned) tractor, when it comes time to resell or trade??? $1500??? $2000??? More??? (We have taken trade-ins on the Jinma built tractors, when customers want to upgrade to a nicer and/or larger tractor, and have allowed them to do it ,taking a far smaller hit than this.)
Let's say one purchased a tractor of equal horsepower, etc. that is slicker, nicer, has more features, is a "name" brand, but performs essentially the same on the job, but new,costs $8000-$10,000 or more. When this tractor is sold or traded in, all things being equal,do you think the value of drop would be only $1500 or $2000----I think not. The dollar amount of loss, in most cases will be more than that. Percentage-wise the drop may be more on the $4000 dollar tractor than the $10,000 one------but who can actually spend "percentages"----it is dollars that are important.
I am not pushing the Jinma built tractors over others---I sell both, and neither are for everyone. I am just trying to point out that this resale value arguement does not always hold true in real life. (It usually stems from the green, blue, and orange guys, as reasons for you not to buy anything else but their's)
Just some food for thought---no disrespect or slamming intended.

dancce

 

[greg_g]

FWIW, when I got rid of my two year old Jinma, I got back what I paid for it. Got a surprise at tax time too. Who would ever have associated capital gains with a Chinese tractor?

//greg//

 

[Jinma354]

dancce
I saw the post and agree with you 100%. I usually buy a tractor and sell it when the warranty runs out. I've owned several new tractors over the last 30 years and have always taken bigger losses on the more expensive tractors. I now own a BX23 just under a year old with a little over 200 hours and when I go to unload it i'll lose way more money almost as much as I paid for my Jinma 354. /forums/images/graemlins/confused.gif

 

[bluechip]

I agree. I think the high resale of the "big name" tractors has more to do with the increases in price of new ones than anything else. With Chinese prices going up over the next few months, we could see pretty good resale on some of the chinese tractors too. In fact the current dealer cost for a Farm Pro 2425 is not too different from what the retail price was just several months to a year ago... I suspect we are going to start seeing some inflationary pressure with fuel costs, defecit spending and all so owning any durable asset, including tractors, may prove to be better than cash in the bank.....

 

[JINMA224XR]

<font color="blue"> Percentage-wise the drop may be more on the $4000 dollar tractor than the $10,000 one------but who can actually spend "percentages"----it is dollars that are important.
I am not pushing the Jinma built tractors over others---I sell both, and neither are for everyone. I am just trying to point out that this resale value arguement does not always hold true in real life. (It usually stems from the green, blue, and orange guys, as reasons for you not to buy anything else but their's) </font>

Hey Dancce,

I 2nd that Emotion. /forums/images/graemlins/smile.gif

I bought my first Chinese tractor back in 1990. It was a Shinniu, 25hp, 4wd, 2cyl., No PS, No Canopy, No Wheel Weights/front weight, Seat Hard as a Brick, and I paid 5000 for it. 7 years later I sold it in 1997, for 4000. That come's out to 148 dollars a year to have a tractor at my beckon call 24/7 for 7 years.

The name brand Tractors can say what they want to about the Chinese Tractor Resale Values, but I say that ain't bad.

I now have my 2nd Chinese Tractor that I bought new in 2004 for 4850. This one is a Jinma and made much better than the Shinniu. This one is a 20hp, 4WD, PS, Canopy, Spring Suspension Seat( /forums/images/graemlins/grin.gif), Wheel Weights/Front Weights, Sealed Maintenance Free Batry, and as long as it doesn't split in half or disintergrate from the Hurricanes, I suspect that my resale value will be as good or better than I got with the Shinniu. If I ever decide to ever sell it. /forums/images/graemlins/grin.gif

I'll be the first to tell you that the Chinese Tractors are not as good as Mr John Deere, Massey ferguson, Kabota, Mahindra, Kioti, and others, but at about 1/2 the price, The Chinese Tractors are getting the jobs done and saving a ton of money's(Mucho Moola,DOLLARS!!!!), doing it. /forums/images/graemlins/smile.gif

And furthermore, do not, I repeat do not--- Take your Chinese Tractor to a Tractor Beauty Contest, Because Mr John Deere and others, will win those Blue Ribbons every time, but they have allready paid for all those Blue Ribbons well in advance. And many will still be paying for their Ribbons, many many months and years from now. /forums/images/graemlins/grin.gif

Get your tractors running &
Have a nice day,
Joe /forums/images/graemlins/cool.gif

 

[tat2z1969]

I had a 1998 JD 1070 cost 19,000 in 98. The local JD dealer offered me 3,500 bucks tradein, the 1070 had 350 hours on it. I sold it last weekend to a private party for 1/3 of what I paid for it, never again! I should add it was still like new and was kept in a building and never left outside. It was 4cyl 39hp and was a dog from day one, to light, no 4wd.
Thats why I went to Chinese tractors, neighbor has a Nortrac 254 and it has way more power than the 1070 ever had.
I am not worried about resale on the Chinese unit, it will probably still be running when I am not.

Jim

 

[n4807g]

New to this site but thought I'd get some opinions and add my $.02. I have found resale value to be all over the lot. In 1992 I bought a 572 Belarus tractor. At the time everyone I talked to said I was nuts. Usual story about parts, reliability.....you probably know the story. I use the tractor to mow a 5 acre field, log on the side of a mountain, and maintain about 1/3 mile of road. At the time (1992) I looked at similar tractors from the major brands, but they wanted anywhere from $25K to $30+K....so for $11,500 I took it. 635 hrs. it's going strong (not much to look at...but it'll pull just about any other 65HP tractor around and do all it's jobs at the same time). Because I can't afford to "not" have a tractor in the winter, and I'm afraid I'll go to start the Russian and she won't I'm buying a Farm Pro 8240 with a Koyker 310 loader. Paid $26,000 delivered from IN to my door in NH.

I thought about selling the 572, but I think perhaps not. Once I get the Farm Pro and have a chance to evaluate it I might change my mind. But for now my reason for keeping the Belarus is simple. I haven't had a single serious problem, with the notable exception of a few leaks and one hydraulic hose. I know that as time goes on I'll have more repairs and sooner or later I'll turn the key and the starter won't kick. But unless I could get about $7,000 all I'd be doing is selling a perfectly good tractor that would cost anothe $26K to replace today....and who knows about tomorrow.

Now a question. Since I know very little about Chinese tractors, what comments does anyone have about the Farm Pro 8240. I bought it from Farm Pro, as opposed to Foton or any of the other names for the 2 year warranty and the dealer/repair network. I'm I going to like this tractor? If anyone has experience with Belarus 4wd does the 8240 have as good a 4wd system?

Thanks for any input you have.