Inflated Prices. Buying Used vs. New.

[MGH PA]

I'm in the market (and have been for some time) for a UTV for work and light recreation around our property (we own 25 acres but are in the middle of my parent's 220 acres). After a lot of research and knowing I want seating for more than 3 people, I have settled (I believe) on a Mule Pro FXT. Of course, I waited until new pricing is almost $2000 more than it was a year ago, and the used market is still super inflated as well. Our local dealer only gets a few in a year at best, and they are all $20,000 + OTD. Used ones are very hard to find, but I found a nice semi-local machine with low hours and mileage for its' year (2015 LE). It's price in today's market is fair ($12,500 for the unit which also has the roof, windshield, and wiper kit), but still almost $2k above book value. Not to mention it's almost 8 years old at this point. I would be saving over $8k on a new one (I have a hard time justifying a $20K purchase on a work toy), but I feel like it's not truly apples to apples due to inflated prices. Everyone last year at this time said to wait for the supply chain issues to work themselves out before buying. Those issues are improving, but still not back to pre-covid. Couple that with our current economic conditions, it's not looking like waiting is the smart long term play if I could use the machine now.

So, now the question is to roll the dice on a less expensive used option, albeit still inflated, or spend a significant amount more for the newer machine? Thoughts?

 

[EddieWalker]

I can't comprehend how anybody can spend that kind of money on a UTV, but when I bought my 4010 Trans Mule, I struggled with the cost for months before finally buying it. All of the used ones I looked at where too beaten up for me. I didn't want to work on it, I wanted it to start every time I wanted to use it. In the end, I financed it for 5 years with a payment low enough that I could pay it off early, which I did.

After buying it, I realized how much I needed it. We use the Mule more then everything else here combined!!!! It's become the one essential machine for living here.

 

[Hay Dude]

Somewhat related:

My Ram had to go in for a warranty campaign. I dropped it off yesterday. As I pulled into the Service dept a salesman approached me and offered to buy my truck from me-on the spot for a very good price.

I asked him why. He said he had a long time customer that needed a truck immediately and none were available from Ram. He went on to tell me the supply chain was still a mess and new trucks are very hard to come by.

 

[MGH PA]

I can't comprehend how anybody can spend that kind of money on a UTV, but when I bought my 4010 Trans Mule, I struggled with the cost for months before finally buying it. All of the used ones I looked at where too beaten up for me. I didn't want to work on it, I wanted it to start every time I wanted to use it. In the end, I financed it for 5 years with a payment low enough that I could pay it off early, which I did.

After buying it, I realized how much I needed it. We use the Mule more then everything else here combined!!!! It's become the one essential machine for living here.

Agreed. I don't really NEED one, but I do feel like there are a lot of reasons to have one (I borrow my dad's 570 Mid-Size a lot). It just seems like these tools/toys aren't getting any less expensive with each year.

 

[newbury]

Everyone last year at this time said to wait for the supply chain issues to work themselves out before buying.

But while the supply chain issues worked out Russia attacked Ukraine and inflation has climbed up higher.
Unless we get a sharp recession prices are unlikely to go down much on new. Meanwhile you are not getting use of it.
And people have been saying "the recession is coming" for years. From the WP in 2018

DECEMBER 20, 2018

The vital signs aren’t good. The S&P 500 has fallen more than 10 percent since its September peak, which technically puts us in “correction” territory. In the past few weeks, markets whipsawed over whether we do or do not have a trade deal with China (we don’t)

Only you can decide if it's better to sit on the cash or the UTV.

 

[ArlyA]

I'm not in the market for one but it does seem that new units are showing up and sitting at the dealership. Why not offer the used unit onwer book and see what they think??

 

[deserteagle71]

When I bought my Can-am Defender side by side it was for the express purpose of recreation - exploring the outback. Which we have an awful lot of "outback" around here. But I found myself using it around the homestead more and more...so many tasks that I was using one of my tractors for, I now use the Can-am.

I think you'll be surprised at how many uses you can find for a UTV on a farm. Pretty handy to have around. But without doing a thorough inspection of the used machine it is impossible to say that in the long run it would be cheaper than a new one. Are there any maintenance records for the used one?

 

[rgr33]

I’ve said it before on these forums, my UTV is the most used tool on my place

It is mainly used as a tool hauler and mini dump truck, but also for people transport, and keeps the hours off the tractors

Once you bite the bullet, you will wonder how you ever got along without it.

 

[Rdrcr]

I bought my UTV primarily as a recreational vehicle. To my surprise, as others have mentioned, I use it more on my property than any other vehicle.

With the used market still inflated (assuming the seller won't take a better offer), I'd suggest buying the new unit.

Mike

 

[MGH PA]

Thanks everyone. I would feel better buying new, but financially, I'm not sure it makes sense.