- Location
- Lincolnshire
Buy new and keep a long time is cheapest as you have removed about 3 dealer margins.
Buy new and keep a long time is cheapest as you have removed about 3 dealer margins.
Their old one might have cost them £75,000 and it worth £65,000 as a trade it after it’s been used for 4 years under warranty.How can any ordinary farm buy a new one, 100grand, crazy.
Had a price last week from the bank for a straight loan for £150,000 which over 5 years was going to cost £160,350 in total repayments or £2672.50/month. This was just a fact finding mission to see where rates were etc but asked them would they want to know what it was to be used for and the answer was no. I said so a machine or infrastructure etc and they said thats fine as no item would be listed against the loan. So a tractor at that price including a 8 year warranty from Fendt you would hope the tractor would last 10 years so for some very basic maths if you paid for it within 5 years as per the above quote but then had another 5 years of no repayments but you averaged it then its actually £16,035 per year for a tractor that was fully covered for 8 years and you take a punt on the last 2 years outside of the warranty. I have no idea on the annual hours allowed on a warranty but I would think it must be 1000 so thats £16/hour before factoring in its resale value with 10,000 hours on it.
Exactly my thoughts, opted for new, trade in of old one (5,000hrs) was nowt to get excited about so kept it. 25k a year over 4, the new one will see me out and splitting the hours between the two should make them last even longer.You have to think with the sub being cut and this elms coming in its place who will be buying anything in 6 years time as that cheque will pay for alot of machinery monthly payments, tractors in 6 years time will be 150 grand no bother. I already think the tractors lv got will be my last.
Good move, MF5711 has lots of lower spec levels, equivalent to MF5610 would be £60k+I've been through this exercise recently. Looked at a new MF 5711 which was around £44k. Wasn't overly impressed with cab etc, felt built down to a price.
Came across a tidy MF 5610 on a 14 plate. Felt much better built, very comfortable quiet cab and no ad blue. Done 3000 hours and did a deal at just under £30k.
It feels right, and I've saved £14k. What happens over the next 10+ years will tell me if I'm right