First Time Tractor Buyer - Yanmar?

PAB_OH · Dec 24, 2005

Mickey,
I do have a price range in mind. I'd like to keep the tractor under $5k. I don't need the FEL right now but I will need it soon. I just thought if I got them at the same time I could save a bit.

I went and drove a 1610D this afternoon. Another member of the forum who lives about 15 minutes away sent a PM and offered to let me check his machine out.

I have to say I was very impressed. It was a lot bigger than I remember them being and seemed very solid. He did have a Bush Hog FEL and a Mazziotti (sp?) BH on it so I'm sure it felt quite a bit more solid than what the tractor would have alone. Anyway, it's just one more model for me to consider and now it has me second guessing whether or not I really need the size and HP of the larger Yanmars ($$$$).

I found a 3110D in Richalnad, GA wih a Koyker FEL for $10,500 but that is huge money for me. No way I could swig that. I'm thinking if I can get a tractor, FEL, and possibly a trailer for under $8k or $8500 I MIGHT be able and willing to do it. Maybe I'm off the mark though.

The only thing about the tractor in GA though is that I think I seen some of his other tractors advertised as "Factory Rebuilt" or even as "new". Based on the many comments about dealers who say these things I am very leery of even calling him.

LMTC is still high on my list based on all the positive info but there is a guy who sells them locally too and I want to get in touch with him. The guy whos tractor I drove today and another friend of mine both bought their tractors there and say he is a stand up guy.

Thanks again for all the info guys.

PAB_OH · Dec 24, 2005

Thanks Kenmac. I was kind of aware of that practice but what if they keep the hour meter in?

I have heard some people say that the Vietnamese rebuilds may be made up of several machines, not even the same model. And if a "custom" part is needed to get the stuff together they have no problem "manufacturing" it on site. Ends up being a nightmare.

i guess if someone who knows their stuff wants to fool someone like me they can. The only way I can avoid it is to deal with the "good" guys.

Thanks again to all.

kenmac · Dec 24, 2005

Do business with Wayne or someone he recomends & you won't have to worry about these things, Cause they don't do business that way.

Cord · Dec 25, 2005

This tractor would proably fit your needs perfectly. It's an American model and it's not too far away. I don't think this one is power shift, but the asking price is awsome. 7574113925

PAB_OH · Dec 25, 2005

Cord,
What tractor would that be? Thanks for the info.

Phil

cwarrix · Dec 25, 2005

It is on ebay.

web page

PAB_OH · Dec 26, 2005

Thanks,
Looks like a decent machine. Anyone know why it would be so much less than the older Yanmars? $5200 is what most people are asking for the tractor only in this HP range and this one includes the loader.

I pm'd him but there is such a short time left in the auction I doubt he'll have time to reply. Maybe I'll get lucky though.

No way I can buy it through the current auction. I don't have enough time to check things over. That's the other thing about this one, no dealer support (as far as I know) so it could be a lemon and there won't be much I can do about it. I'm still going to pursue it.

I called Reserve Tractor (in North Royalton) this morning and they aren't open so I have no way to look at anything up there today. I still don't know a whole lot about the Allied tractor brand they sell so its still an unknown and with their hours I don't forsee me being able to look at them anytime soon.

Thanks for the tip on the eBay lead. If he sends enough pictures and I'm comfortable with him I might drive over and check it out.

cwarrix · Dec 26, 2005

( Thanks, Looks like a decent machine. Anyone know why it would be so much less than the older Yanmars? $5200 is what most people are asking for the tractor only in this HP range and this one includes the loader. )

That's one thing I'd be afraid of. If it sounds too good to be true ... And IF it was such a good deal, I think somebody would have snatched it up. IMHO, I'd probably stay clear of this one.

( That's the other thing about this one, no dealer support (as far as I know) so it could be a lemon and there won't be much I can do about it. I'm still going to pursue it. )

That's another good point PAB_OH, and another reason I'd probably stay away. I bought a pontoon boat on eBay (only big purchase I have made on eBay) and when I had trouble later, the seller was nowhere to be found. All I wanted was to ask a few questions, but he wouldn't answer emails or phone calls. Gives you a sinking feeling. I'm not saying all big dollar purchases on eBay are like that, but it is definitely something to look out for.

( I called Reserve Tractor (in North Royalton) this morning and they aren't open so I have no way to look at anything up there today. I still don't know a whole lot about the Allied tractor brand they sell so its still an unknown and with their hours I don't forsee me being able to look at them anytime soon. )

Have you called Wayne at LMTC yet? I don't mean to sound pushy, and I promise I get nothing out of it /forums/images/graemlins/grin.gif But I know for a fact Wayne can help steer you in the right direction without any pressure. I looked for several months and spoke with Wayne numerous times before I finally spent my money. If you want to look at a 2210 I bought from LMTC, check out the pictures in the link below, or heck, if you're down this way and I'm home, swing by and take a look in person. PM me if you want.

( Thanks for the tip on the eBay lead. If he sends enough pictures and I'm comfortable with him I might drive over and check it out.)

Good luck PAB_OH, either way. Personally, given the bad taste I already have with the pontoon incident, I wouldn't consider the eBay option a whole lot.

Frankly I like knowing there is somebody I can call if I have questions. And I already tested this by asking a lot of questions before I made the purchase, and a few more after. I don't have a lot of experience when it comes to tractors, so having somebody to call that knows what they are talking about is worth a lot. Just my $.02 /forums/images/graemlins/smile.gif

Chuck

PAB_OH · Dec 26, 2005

I contacted the seller. The machine didn't have power shift or power steering just as another member on here advised me. I will have to pass on that one for sure.

Wayne has emailed me and I emailed him back. Still talking to him. He's looking more and more like my only option right now. Not that that is a bad thing. He is supposed to be emailing me some pics as soon as the weather clears and he get some.

Thanks for all the advice, it really helps. I'm still looking!

pruntyc · Dec 26, 2005

Another thing to think about is. Wayne only buys tractors that are of a better stock. There are different grades out there, and he buys the better ones. Where as a lot of dealer buy the cheaper ones, so they make more money, but have more problems to. Now I'm not saying you can't have a problem with his, as they are used, but if you do he will take care of it to. I'm don't live next door to him, or even close, never even met him, but have been on this board for a long time, and he is one of the best on here. I live in MS, wish I was closer to him, as if I were that is where I would buy my next one. That is my 2 ¢ worth. /forums/images/graemlins/grin.gif

Inspector507 · Dec 26, 2005

PAB,
Wayne is not your only option, but it is a very GOOD option if you ask me. I've been to his place, chewed the fat with him, he seems like a great dealer. Has a lot of models in stock usually, only the highest quality. I think he may re-paint one or two here or there, but he doesn't buy the junk that needs the reconditioning.

PAB_OH · Dec 26, 2005

Dick,
Thanks for the reply to this. I did get some pictures from Wayne tonight of some tractors and you are right. They look to be in very good condition.

As withi the last time I tried to do this (buy a tractor) it looks like I won't be able to do it right now. It's going to be a month or two at the earliest.

Sucks!

Phil

PAB_OH · Dec 26, 2005

Inspector,

Thanks for the reply. Wayne seems t be a straight shooting guy. I hope I get to find out firsthand soon. Will be a month or two though.

PAB_OH · Dec 26, 2005

Here's general question for all of you veteran tractor buyers. Did many of you finance? If so with who if you don't mind me asking? Feel free to PM if you don't want to air in public.

I will definitley have to finance and I have a hard time understanding lending institutions not offering longer terms on ag equipment. The stuff is built like tanks and I think it could be safely said will outlast any piece-of-junk car you buy today and yet you can't get a longer term on the loan. Am I missing something?

Has anyone been able to get a long term loan for a used tractor? (60 months+). If I could I would pay cash but that isn't going to be something I can do for a long time. i'm pretty good with my money and have excellent credit so getting a loan won't be a problem, but I would like to stretch the term if I could. That way if hard times do hit I'll have a low payment and when things are going good I can pay more on the loan. I've financed and paid off a few purchases like this and it has almost always helped that I went with the longer term and lower payment. I almost always pay them off early too.

Any input would be appreciated and like I said feel free to PM me if you don't want to talk about in public.

cwarrix · Dec 26, 2005

Hang in there Phil, you'll be tractorin' in no time /forums/images/graemlins/grin.gif It was several months from the time I started to look until I was finally able to buy. There were lots of road blocks along the way, home repairs, unexpected expenses, stuff like that. But it finally came!

Chuck

cwarrix · Dec 27, 2005

Hey PAB, the choice to finance has to be a personal decision you make, but I think the general consensus here and other places will be to NOT do it. I think the banks will look at a tractor basically the same way they do a boat or RV. The rate is higher and/or the term is shorter because they figure the risk is higher. If you have to make a decision which payment to not pay because you are short on money or lost your job, its most likely not going to be your car you need for work or your house that you need for shelter. It will most likely be the non-necessity items like your boat, RV, and tractor. Some die-hard tractor lovers on this board might disagree and say they would keep the Yanmar and let the house go /forums/images/graemlins/grin.gif

But, if financing is an ONLY option, consider your credit union if you have one, or money from a home equity loan. Or (and I know the financial experts will clobber me for this) you might be able to borrow money against your 401k, at least you pay the interest back to yourself. The week before I went to buy my tractor I got an offer from my credit card company to use a convenience check at 0% for six months or 1.9% until it was paid. I ended up keeping the money I had saved in the bank and wrote the check at 0% for the tractor, then paid it off before the 0% offer expired. That worked out great for me, but it is the ONLY way I would recommend using a credit card for purchasing your tractor.

Bottom line, and this is just my opinion, don't borrow money to buy the tractor if you can find ANY other way. That's just my thoughts on the subject, but I'm definitely not a financial expert, and I didn't stay at a Holiday Inn Express last night /forums/images/graemlins/smile.gif

normde2001 · Dec 27, 2005

If you have equity in your home and good credit, I would recommend a home equity line of credit, approx. 6%, and forever, (20 years), to pay off.

LMTC · Dec 27, 2005

Chuck is basically correct from what I hear from the finance folks. Statitically there is more defalt on such loans than on mortgages, etc.

A credit union loan is usually a personal loan, made solely on one's credit history and limited to a much smaller amount than if there were tangible collateral. Usually the rate is pretty decent, but higher than mortgage or auto loan rates. Still, it is often enough to buy one of these tractors.

A home equity loan has tangible collateral of course, and usually a much lower rate. This is often the best way to buy if one has enough equity available. This is how we started our business many years ago. Our first "floor plan" financing for inventory came from a home equity loan at a much lower rate than we could find anywhere else. Usually you can pay just inerest for most of the life of the loan if you want to. It is not uncommon for them to have ten year terms. You withdraw as needed, pay interest while you have principle outstanding, and when you do not it just sits there waiting to be used. Current used equipment rates are pushing the hgh 9% range and I've seen equity loans in the low 7% range.

SteveM · Dec 27, 2005

I will throw in my 2 cents; you are trying to buy a tractor (and perhaps loader and other stuff) for less than 200 bucks a month, perhaps far less; and that is a stretch. No way around it, compact tractors are in high demand and therefore expensive dollar per pound. .. So there are a few options; if you are mechanically inclined, you can be patient and watch lots of classified ads and buy something private party. Older clean compacts are diamonds in the rough, but I have bought 3 so far in the past 6 years or so, all under 5,000 with assorted attachments etc. All were at least 20yrs old in good working shape, but I searched high and low and leaped into my truck with cash in hand when the deals came along. I simply got a 3 year loan from my credit union, slightly higher than an auto rate, but better than a credit card for sure. As I fixed up the first tractor, I sold it and moved onto a better one, etc. I now have a nice little rig with a loader and bunch of implements, and am about to put that one in the paper now that just finished painting her up. Anyhow, I digress...

Even though I like yanmars a lot, and agree there are good reputable dealers out there, it gets a bit foolish in my mind to pay nearly $10,000 (or more) for a 20yr old grey market machine which will be hard to sell on the open used market. please dont kick me off this forum! /forums/images/graemlins/tongue.gif

At the $5-6,000 price point for a YM2000 or 2210 with a few attachments, you are getting a good value. But once you put a new loader on and push the price up, you would be better served to spend just a little more on a clean used Deere 755 or such which will be easier to finance, repair and resell if needed. If you are borrowing anyways, have a talk with a few main line dealers first - you may be pleasantly surprised.

Anyhow, I echo that you need 4wd for any kind of a hill with snow removal, and I think a 2210 4wd or similar with just a back blade and a few other attachments would be perfect for your needs. Just my opinion that adding the $2500 loader starts to ruin the savings of the used tractor.

LMTC · Dec 27, 2005

( which will be hard to sell on the open used market )
This just never fails to amaze me. So what do we sell on now? The closed used market? There are tens of thousands of grey market tractors that have been imported into this country. Why would otherwise successful business people do that if they are hard to sell on the open used market....whatever that means.