Selling a Tractor Back to the Dealer. Is this a possibility?

[Diggin It]

Imaginary numbers .....

If you paid 18,000 and your dealer can get 20,000, at 5%, you're still ahead. And you don't have to deal with the headaches and money handling.

 

[DanielDD]

JD dealer called me back on the option of them buying both the tractor and the rotary cutter. They're offering me $5K more than I owe on it. Told them I would sleep on it and let them know tomorrow. This seems to me like a no hassle arrangement. They pick it up, settle the account with JD financial and cut me a check.

Should I ask them to increase their offer or take what I can get?

 

[MH8675309]

JD dealer called me back on the option of them buying both the tractor and the rotary cutter. They're offering me $5K more than I owe on it. Told them I would sleep on it and let them know tomorrow. This seems to me like a no hassle arrangement. They pick it up, settle the account with JD financial and cut me a check.

Should I ask them to increase their offer or take what I can get?

Remember the old saying about a bird in the hand?

 

[NoTrespassing]

Ask the dealer how much they would price it for on consignment for one thing. Then it's all about what your time is worth I guess. The mower might take longer to sell on consignment. I doubt that JD would haggle but maybe someone else has some input on that.

 

[K5lwq]

What have you paid so far in payment? If you subtract the $5000.00 and the difference is a fair price for the amount of use you have had over the last 2 years then maybe that is not that bad of a deal.

 

[Diggin It]

Remember the old saying about a bird in the hand?

You end up with a handful of bird doodie.

 

[tstex]

First, what does the same model tractor and shredder sell for brand new?

Next, how much did you put down and how much have you paid to date?

Finally, what are the headaches cost to you?

I would offer that what you put down and 24 mo's of payments exceeds $5K.. Therefore, if your total OOP payments from day 1 are $12,000, then 12K - 5K = 7K/24 mo's of operation, you basically leased the tractor for $291/mo

If you want more than the $5K they offered, then do the math on what it's costing you/mo, how long to sell, all the transaction costs/headache costs, then you anticipated sale price and you have your answer.

To me, if someone would have said I'll give you $5000 for it now and you can walk away, you would have taken it in a heartbeat. But, the thought of making more has stopped you. Take their offer and be done w it as you stated in your opening statement...good luck

 

[MossRoad]

JD dealer called me back on the option of them buying both the tractor and the rotary cutter. They're offering me $5K more than I owe on it. Told them I would sleep on it and let them know tomorrow. This seems to me like a no hassle arrangement. They pick it up, settle the account with JD financial and cut me a check.

Should I ask them to increase their offer or take what I can get?

Let's say the tractor is worth $20K and you only owe $10K on it.
The dealer hands you $15K, you pay the $10K you owe and walk away with $5K.

Now let's say the tractor is worth $20K and you only owe $10K on it.
You sell it yourself for $20K, pay off the $10K you owe and walk away with $10K.

Think about that.

 

[JethroB]

I’m in the process of trying to selling a Kubota L4760. Kubota dealer where I originally bought it will try to sell it for me for a flat $500. A friend/wheeler-dealer/horse trader is trying to sell it for me now for a $200 fee. The Kubota general & sales manager (over 3 stores) said all their new sub 70 HP tractors are moving very slowly now. Mine doesn’t have a loader so that compounds the selling issue.

 

[ROUSTABOUT]

I have no clue but.... does JD Financial allow a person to sell their equipment privately (before paid off)??

All they want is money. Don't matter where or how you get it.