Buying in this economy

[skypros]

Buying in this economy.

I drove by the Kubota dealership yesterday..... and the lot was totally FULL.

Now I am sure that they were getting stocked up for the springtime boom...... But, if you can get by with what you have, I have to wonder who is going to go out and buy an expensive tractor or implement not knowing what the world will be like this summer.

IE: it may become a buyers market.

 

[ccoon520]

Buying in this economy.

I drove by the Kubota dealership yesterday..... and the lot was totally FULL.

Now I am sure that they were getting stocked up for the springtime boom...... But, if you can get by with what you have, I have to wonder who is going to go out and buy an expensive tractor or implement not knowing what the world will be like this summer.

IE: it may become a buyers market.

Well if you are using it to farm crops you'll probably be ok. Especially because people still gotta eat, and the price of corn and beans may actually increase (I have no evidence to back this up but just what my gut says) due to the difficulty companies will probably face trying to import or export crops, and people buying out a bunch of food for an impending apocalypse. Plus they'd be buying the tractors for a tax break anyway since if you already farm you probably already have a capable tractor or would be buying used.

The smaller utility ones like the BX-L will probably take quite a hit as businesses grind to a halt and individuals tighten their belts to make it through it.

 

[SDT]

Buying in this economy.

I drove by the Kubota dealership yesterday..... and the lot was totally FULL.

Now I am sure that they were getting stocked up for the springtime boom...... But, if you can get by with what you have, I have to wonder who is going to go out and buy an expensive tractor or implement not knowing what the world will be like this summer.

IE: it may become a buyers market.

Wait.

Kubota increased incentives and improved financing terms as of today.

Things will almost certainly get better before getting worse.

SDT

 

[Workerbee]

Well if you are using it to farm crops you'll probably be ok. Especially because people still gotta eat, and the price of corn and beans may actually increase (I have no evidence to back this up but just what my gut says) due to the difficulty companies will probably face trying to import or export crops, and people buying out a bunch of food for an impending apocalypse. Plus they'd be buying the tractors for a tax break anyway since if you already farm you probably already have a capable tractor or would be buying used.

The smaller utility ones like the BX-L will probably take quite a hit as businesses grind to a halt and individuals tighten their belts to make it through it.

I seriously doubt if crop prices will recover this year. First reason being that more is produced here than is consumed. And the rest of the world is not in a great position or attitude to import our surpluses. Next is just looking around you can see how oil and metals are being pushed to historic lows. It usually takes quite a while to work through these problems. And I also doubt tractor sales will be strong at all. Ag certainly wont buy a lot. To be able to write the cost off, you would need to owe taxes, or be making a profit. Thats not been an issue for most farmers for a few years now.

 

[Bmbbm]

One way to improve the economy is for us to be spending our money. I say if you can afford and want a new Tractor go for it. With the slowdown there are deals waiting on you.

 

[SwampCat]

Neighbor was just bragging up his 2020 Chebby P.U. he just got. Told him he should have waited 6 months, they will be giving the things away.

 

[SDT]

Neighbor was just bragging up his 2020 Chebby P.U. he just got. Told him he should have waited 6 months, they will be giving the things away.

Bingo.

I only buy vehicles when the stars align and am currently waiting for the right time to buy a Colorado or Sierra. That time has not yet arrived but is on the horizon.

SDT

 

[RCW]

I only buy vehicles when the stars align and am currently waiting for the right time to buy a Colorado or Sierra. That time has not yet arrived but is on the horizon.

SDT

I think your prediction is correct.

I have gotten my last 2 or 3 Silverados under good circumstances, IMO.

No one knows future of COVID, but I think the 3rd quarter of the year could be favorable.

I have a 2017, so I'm not in the market for quite a while....

 

[knuth123]

Neighbor was just bragging up his 2020 Chebby P.U. he just got. Told him he should have waited 6 months, they will be giving the things away.

I feel this way also. But on the flip side a lot of companies are offering really good incentives now to move vehicles in this market. But have shut down assembly plants to protect workers. so in a few months once things clear up. they might be down to slim pickings till the 2021 models start rolling out.

 

[D2Cat]

Some things are difficult to predict. I know someone who put their house on the market two weeks ago. They had a lot of interest and accepted an offer in a couple of days. If folks have the funds, and looking for a particular item, they are not hesitant to use them.

 

[Orangeglow]

Drove past the local GM dealership yesterday, and they have 19,995 discount plastered on one of their trucks. Not sure what the list price is on that truck, but I,ve got a feeling it is a sign of the times, with many more discount signs to come. It,s definitely going to get a lot worse, before things get better.

 

[GeoHorn]

I got a call today from my investment advisor who said that required-distributions from IRAs are being suspended for this year, so those of us over 70 are relieved from that tax issue. (Related to the question as a comment on extra-cash being on-hand...Not.)

 

[nbking]

Our Chevrolet dealership has a few 2019 trucks with huge discounts. The one I'm eyeing sticker $73,000, discount sign has $50,000. Big beautiful black Denali 2500HD. My 2014 not looking so beautiful.

 

[SDT]

I got a call today from my investment advisor who said that required-distributions from IRAs are being suspended for this year, so those of us over 70 are relieved from that tax issue. (Related to the question as a comment on extra-cash being on-hand...Not.)

I got lucky regarding the RMDs as I turned 70 last Oct.

Won't need to take any RMDs for another two years because of the change in the recent tax cut bill.

SDT

 

[GeoHorn]

Our Chevrolet dealership has a few 2019 trucks with huge discounts. The one I'm eyeing sticker $73,000, discount sign has $50,000. Big beautiful black Denali 2500HD. My 2014 not looking so beautiful.

Black Chevy: Two strikes against it.