Should a dealer buy back a piece of machinery they sold you

[Massey mad]

We bought a piece of ex-demo machinery 12 months ago off a dealer we do a fair bit of business with and after realising we aren't getting the use out of it we thought we would and looking to put funds elsewhere in the business now so I asked our rep if they'd want to buy it back at what ever he valued it at and settle the finance on it at the same time and he won't touch it said the company is tightening their belt and can't do anything. What are your thoughts and what shall I do next as feel like we are stuck with it and can't afford to settle the finance to properly advertise it for sale. Thanks

 

[Jrp221]

They are under no obligation to buy it back. No doubt if you wanted to trade it back for something else it would be a different story, they are running a business too. Speak to your finance company.

 

[Netherfield]

Can't blame the dealer if you've bought wrong.

 

[bobk]

We bought a piece of ex-demo machinery 12 months ago off a dealer we do a fair bit of business with and after realising we aren't getting the use out of it we thought we would and looking to put funds elsewhere in the business now so I asked our rep if they'd want to buy it back at what ever he valued it at and settle the finance on it at the same time and he won't touch it said the company is tightening their belt and can't do anything. What are your thoughts and what shall I do next as feel like we are stuck with it and can't afford to settle the finance to properly advertise it for sale. Thanks

Interest rates are killing most folk at the mo

 

[Massey mad]

Can't blame the dealer if you've bought wrong.

Didn't buy wrong I did what I had to while my partner was out of action as its just me and her on the job she's back now so no longer need said piece of machinery.

 

[Zippy768]

What machine? If I may ask?

 

[Kidds]

No, I can't see why the dealer should buy it back if they don't want to.
I do hope you get sorted out soon though. Best of luck.

 

[Cowabunga]

Sell it privately. No doubt that if your machinery was a popular item with lots of potential buyers, the dealer would buy it back. Probably at around 20% less than they think they could sell it for quickly.
However, many dealers are as strapped for cash as you probably are, and may not be able to afford having high value items that may stick around for years losing value on their yard. They are in business to sell machinery and service them, not to buy expensive stuff to fill their yard and empty their bank account. No doubt that if they hear of a potential sale, they will get back to you either to sell on your commission or buy it back to sell for a margin of their choosing. What they don’t want, I repeat, is their money being tied up, depleting their bank account or more likely with some dealers, costing them an extortionate amount in stocking finance, in something they may find hard to move on and which will cost them more and more while its resale value drops and drops.

 

[bobk]

It won't be a JD cos they're wonderful

 

[Massey mad]

What machine? If I may ask?

Spread a bale

 

[Fergieman]

1 year old Spread a bale should be easy enough sold, or just keep it and give your partner an easier time.

 

[Dave W]

We bought a piece of ex-demo machinery 12 months ago off a dealer we do a fair bit of business with and after realising we aren't getting the use out of it we thought we would and looking to put funds elsewhere in the business now so I asked our rep if they'd want to buy it back at what ever he valued it at and settle the finance on it at the same time and he won't touch it said the company is tightening their belt and can't do anything. What are your thoughts and what shall I do next as feel like we are stuck with it and can't afford to settle the finance to properly advertise it for sale. Thanks

A 1 year old machine is one of the hardest things to sell and even if they did want it their offer would be insultingly low

 

[L P]

Spread a bale

You should get out of that fine if you haven't wrecked it, advertise it yourself on here or ebay. Just get a settlement figure from finance company and get buyer to pay settlement direct to finance guys and any balance to you. Its pretty commonplace for folk to sell stuff before finance is paid.

 

[Lazy Eric]

That will sell easily. Do you really have to sell it? Once it’s paid for it won’t lose much value.

 

[Dave W]

That will sell easily. Do you really have to sell it? Once it’s paid for it won’t lose much value.

It lost all its value the first time it had a bale in. That coupled with the finance settlement could make it a very painful hit

 

[suffolksmallholder]

We bought a piece of ex-demo machinery 12 months ago off a dealer we do a fair bit of business with and after realising we aren't getting the use out of it we thought we would and looking to put funds elsewhere in the business now so I asked our rep if they'd want to buy it back at what ever he valued it at and settle the finance on it at the same time and he won't touch it said the company is tightening their belt and can't do anything. What are your thoughts and what shall I do next as feel like we are stuck with it and can't afford to settle the finance to properly advertise it for sale. Thanks

On the plus side you will get many, many years of service from this piece of equipment if you look after it and it only gets occasional use.
SS

 

[Sharpy]

No, they are under no obligation. I suspect the real reason is that he thinks you will be insulted when he offers you less than half of the original price.

 

[HasthorpeGrange]

What model is it?
What’s your location?
How much do you want for it?

 

[Yale]

Pop it on a trailer and park it in a busy livestock market with a for sale sign on it.

 

[Timbo]

Didn't buy wrong I did what I had to while my partner was out of action as its just me and her on the job she's back now so no longer need said piece of machinery.

Send her out to work where she will earn a decent wage, and then keep the spread -a-bale.