new vs used m7060

[arobint]

Looking for an open station m7040 loader tractor, and there is literally . . . nothing up here in canada available. I guess because folks are holding on to them for emissions reasons. Then looking at the price of 5-10 year old m7060s and the price is pretty off-putting. I guess the price of new is a big commitment, but an out of warranty tractor with 1000hrs is still 75% the price of a new one. Is this used market for real? On top of that the new ones have 0% interest and buying used Id be paying my bank almost 6%. . .

This is for a working farm, and we definitely get our moneys worth out of our tractors. I want to move away from our outdated, smelly, turn-like-a-battleship landini's into something quieter, safer, and easier for my staff to use. But Im still shocked by the price of everything. What gives?

Are you finding the price of used pushing y'all towards new?

 

[Runs With Scissors]

Are you finding the price of used pushing y'all towards new?

I am not in the market for anything like you're describing, but I would imagine some of what your describing is due to a combination of people being leery/scared of the "new technology", combined with the recent ridiculous rate of inflation.

The whole "new or used' debate is a personal thing IMHO.

I am firmly on the "buy it new' and keep it forever side of things, but many make a strong argument for the "used market" too.

However, you say that you want to get away from the "old school" tractors, so that kind of narrows it down a bit.

 

[GreensvilleJay]

curious, had a very quik look. saw a used one, $65K, 4 year old, 500+- hrs. So you're saying new they're $100K ?

If so ,from a 'numbers' game. since the farm has to pay 6% for a loan on used, that's about $4K extra to save $30K over new. That is a nice ROI but 0% MIGHT be better, IF the farm PAYS OFF the loan on time. You'll need KTAC either way as bank is holding the paper.
This is one of those, WRITE it all down on paper, two columns 'new' vs 'used', listing TRUE costs.

In the end, YOU know what the farm can afford and needs.....

 

[arobint]

curious, had a very quik look. saw a used one, $65K, 4 year old, 500+- hrs. So you're saying new they're $100K ?

If so ,from a 'numbers' game. since the farm has to pay 6% for a loan on used, that's about $4K extra to save $30K over new. That is a nice ROI but 0% MIGHT be better, IF the farm PAYS OFF the loan on time. You'll need KTAC either way as bank is holding the paper.
This is one of those, WRITE it all down on paper, two columns 'new' vs 'used', listing TRUE costs.

In the end, YOU know what the farm can afford and needs.....

No I mean the price of new is so close to that of used. I don't need or want a cab, and most of what's available has a cab (as probably your $65k example does), but my open station tractor with creeper, hydraulic shuttle, and self levelling loader and 3 remotes is quoted at $70k new. I would guess your $65k example has a cab, hyd. shuttle, but less than 3 remotes and no self levelling loader. So new in that comparison seems like a no-brainer. Just that the previous most amount I've paid for a tractor is $36k with new wheels, so this is a big step up. . .

 

[JasonW]

I bought used because of the price difference. And I found a nice pre emissions model. I wouldn’t pass up an emissions model either as they have been out long enough.

If the total price(including financing) is that close most would say go new. And factor in the depreciation for tax purposes using in on a farm.

Price and sometimes condition of used equipment varies depending on the region.

 

[GreensvilleJay]

Pardon Our Interruption

is what I saw, 3rd one, no cab,just looked at picture and price.

if you can get new for $70K vs same, used for say 55K, new would be the better deal ?