Speculation on what prices might do between now and next May is just that… Speculation.
Meanwhile you have some Factual Matters you can Depend Upon:
You have sufficient money Now to buy ”a” tractor (model undetermined so you don’t really know if the purchase would be wise now or not)…. but you ”may” have to Finance the tractor if you wait and an unknown price-increase occurs.
I would be thinking: What exactly will make the money I have now disappear between now and then..?? …and How More-Important (or not) will be the reason for that expenditure that ”may” force me to finance the tractor with the unknown price…?
Meanwhile, if you attempt to pay for a tractor (of unknown model and therefore capabilities) Now…. what will you do to store and maintain it for the next six months.... presuming you take delivery… but if you don’t take delivery…. how will it be kept until you do, by whom, and in what conditon of storage…?? …OR… perhaps you are thinking it is not yet arrived at the dealer, in which case you will have put up money before-hand in an inflationary economy on a non-existant object of unknown capability….. And which may not fit the job-description once your new home is ready for occupation.
I had a similar (but smaller) puzzle a month ago: My Dyed-diesel tank only had 60 gals in it while diesel fuel was being predicted to become Unavailable due to predicted “shortages” and Upward-Spiraling prices ($6+ per gallon)…. I was feeling Very Pressured to go fill up my storge tank while the price was only $4.55 (and rising) while diesel was available.
However, today, my tank still has 40 gals in it and even the local Grocery Store has just dropped it’s ROAD-diesel to $3.59.
I’d suggest you keep saving for a tractor…keeping your money in your portfolio for likely unexpected new-home expenses… and be more assured that you’ll make a better tractor-decision next spring when your needs are more clearly-defined and the costs are more firmly established.
Here’s the price of fuels LAST week. It’s 30-cents cheaper today.