Buying Advice Used LS G3033 pricing question

[cfstephens72]

Good day all!

The other day I was turned onto what I thought was a used Holland by a buddy, but turned out to be a used 2012 LS G3033 with the LL3102 loader and LB1100 backhoe. It's a local elderly gentleman who has downsized to a subdivision and no longer needs the equipment. There are right around 600 hrs on the machine and it honestly looks as new! I'm new to property ownership and know little about tractors, so I'll basically be learning and become comfortable with whatever I end up with. The machine will also include a 5' brush hog/cutter, two separate blades (one was box, the other he said is for cutting in ditches etc), a post hole digger, winch, and just a ton of other maintenance stuff like hydraulic oil, filters, hoses, etc... oh- he also has a separate grapple bucket in addition to the one that came on the machine. Everything has been stored indoors since delivery when new in 2012.

He said he probably has around 40K invested overall and bought new from a dealer in NC (that seems high based on what it seems others are quoted for similar machines), but just wants to get a fair price and not have to take it to auction. He said to just do some homework and get back with him if I'm serious and want to talk price. He isn't in any hurry and doesn't have it advertised- I'm beginning to feel like this could be one of those deals that people dream of getting, but I need to know where I should look to be financially on something like this?

I've honestly been eyeing new machines because of the 0% finance deals and figured I'd just piece things together as "need" should arise, but if his expected price isn't too big a kick in the pants, I may have to take a hit to the savings to score the deal. Anyhow, I appreciate all of the knowledge here and while I know you can't be definitive sight unseen... what ballpark might I hope to be in on this unit to make it worthwhile based on my descriptions?

Thanks so much!!

 

[cfstephens72]

Almost 100 views and no responses? Have I done something wrong in asking? I've searched and searched for pricing to no avail- is there some sort of formula I should use, like a certain percentage off comparable new? Is there more info needed? Sorry about all the newbie questions & thanks again!

 

[Rock Crawler]

I talked to a local dealer in my area and he mentioned that they consider year 1 as a 40% loss in value, and remove an additional 10% each year after. Using that tractor your looking at with $40,000 invested and assuming only a 30% first year drop and 10% each year after puts it at a number that just sounds ridiculously low to me.... $18,370. I would rather burn it in the field than sell it at $18,000 5 years later.

I would think $26,000 might be more fair.

If you use just the 10% per year number, starting at $40,000 at 2012, you end up at $23,619. Maybe try hitting him at $23,000 and see if he gut punches you and walks away? The worst thing that can happen is he says no. Then you two can start to negotiate and see if there is meeting grounds to be found?

There is this on Tractor House currently for $13,500, just tractor and loader with 48 hours on it...
TractorHouse.com | 215 LS G333H For Sale

Assume that the backhoe adds around $7,000, that puts you in the $20,000 range. Add another couple grand for the box blade, brush hog and other things... $22,000 range. The 600 hours is pretty not an issue, but you could argue that 600 compared to 48 hours is a take away. Remove $500 for that... $21,500.

You can him-haw around these numbers all day long and bend them as you see fit. But at the end of the day you and this fellow need to agree on a number that works for both, or you can not and you walk away.

I guess for the sport of it... hit him low at $20,500 and see how he reacts. Then start a dialog and see where he really needs to be and if your even willing negotiate in the kind of number ranges he is thinking. Often times folks look at the money invested for new items like cars and motorcycles and feel that the item is should be valued much higher than reality will support. This is why tractors, cars/trucks, boats and other things rot away in fields all over the country to eventually be sold for scrap value.

It's a game. Play it well.

 

[cfstephens72]

Thank you so much Rock Crawler!! All of this is a great help, and as you mentioned- he may be looking for more than I'd be willing (or even able) to pay cash for. Unfortunately there are only Deere and Kubota dealers "local" to me- everyone else is better than an hour south and/or west, which is a commuting nightmare, and truly a deterrent to me. I've called a couple, but most seem put out by the questions unless you're ready to buy from them today. I know that other used equipment I've seen in the area just seems to be so closely priced to what I've been quoted new, that it hasn't made sense to snag anything yet. When buying used, I always try to buy it at a cost where if I wanted to get back out I won't take a bath... I can do that on a new one.

Nonetheless- Thank you again for this useful information... it's giving me some numbers/percentages I can work with!!!

Anyone else with some insight?

 

[jdom84]

Tractors in my area don't seem to loose their value like Rock Crawler mentioned. I've bought used tractors with attachments and put hundreds of hours on them and sold them without the attachments for more than I paid.

First of all, 0% financing is a selling tactic... with LS, its either a free loader or 0%, others its bonus cash or 0%. the 0% deal is just paying the financing upfront.
Next thing is $40k for a g3033 with bh and attachments and "extras"... that must be after interest paid on a 6-7 year loan and getting screwed by the dealer. I don't know the exact price they sold for but I assume in 2012 the g3033 was no more than $15-16k base and $5-6k for the backhoe. the attachments depend on condition/brand etc... so maybe $25k total?? I missed that you mentioned a grapple bucket. This brings the price up a bit more to maybe 27-30k?? at most... but not $40k That's cab tractor territory!

I know the g3038 was less than $18k base, I almost bought a used 2015 with 50 hours for $15k and the owner said he paid $18k with filled tires and remotes (no bh) but he had so many people wanting it, he took the highest bid.

You can go to the LS dealer today and get a brand new xg3025 with bh for $20-21k, $15k base and $6k for the bh (this was my dealers quote). Brand new tractors have 6 year warranty, 5 year old tractors dont. Granted that the xg3025 is less HP but its the same size tractor and for $17-18k base, you'll be up to a 35hp machine. Anyways... 5% interest (current LS financing is 5.5%) on $21k for 6 years is roughly $25k

So... all that being said, that tractor package in my area would probably sell $18-25k or more depending on condition and would be gone in a couple days.

You didn't mention how much property you have and what your intentions are with this tractor. It could be to small, or even to big (doubtful). Or maybe you don't even "need" the backhoe. When buying a tractor you need to first figure out what you need, then figure out what you can afford and get the one that fits you at a price you can feel good about.

 

[cfstephens72]

Thanks jdom84-

I understand the finance tactics and agree that the 40K he's claiming is rather steep unless he just paid full retail on everything or I'm missing something. Nonetheless, and like you've experienced, if you buy it right, you can sell it right, or even for profit as in your case- but I'm just happy to know I'm getting a good deal. I'd say given the difference in variables in geography, the equipment still falls somewhere in that 20K range (you 15-20 and Rock Crawler 18-21ishK) so again, very useful information.

I am sitting on 10 acres. About half is pasture currently inhabited by a half dozen heifers, and the remainder wooded and manicured yard around the home. I'll occasionally knock down high stuff the cows aren't getting with a cutter, but mostly maintenance of grading, clearing fallen trees, pad preparation for buildings etc. The backhoe is certainly not a necessity, but if it's there for the right price I can find things to use it for I'm sure- same with the post-hole digger/auger- I have a lot of fence that I find myself replacing posts on too... pretty much a general purpose work horse for around the property.

Thanks again!

 

[opie1988]

what tires are on it? Make sure the tire type works for you. Sounds like you will need an R4 industrial tire. If it comes with AG tires, kiss your manicured lawn goodbye. The price of changing tires is extreme... I would probably put a price of 16K-19K for that machine if it fits your needs like it is. The implements are most likely 6 yrs old and they are probably worth BHog-800 , box blade- 400 scraper 400 they are used implements check craigslist pricing

 

[cfstephens72]

Thanks opie1988- It does in fact have the Industrial tires on it. I've also followed craigslist pricing on both new packages and quite a few used implements, but I can honestly say that the only item that looks even remotely used is the cutter; everything else still shines like new. I didn't write it all down, but he did say most of the items were suitable for class 2 machines- I'll be meeting up with him again later in the week... looks like I need to get serious and possibly dig out my check book.

I appreciate everyone's comments and look forward to more- I can see this forum is going to be a wealth of information- even more-so once I'm an owner.

Thanks again!

 

[rgr33]

I bought a g3033 with hydrostatic and FEL new in 2012. The list price on it was 16,600. I paid less for it than that.

I would guess a fair price for that tractor now, with no remaining warranty, is somewhere around 13, 800.
Add fair value for the attachments and implements, which are in top condition, and there are a lot of them, and I would say 25 to 27 k would be a reasonless price.

On a side note, my g3033 has been a great tractor, never have regretted the purchase.

 

[cfstephens72]

Thanks rgr33-

This one is a synchro- so just a little less at list, but I appreciate the feedback!! I'm pleased to be reading so much great feedback on these machines and I'm also excited about the potential ownership. Here's to hopefully being able to put a deal together!!:drink:

Thanks to all!!