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Author Topic: What about this tractor deal  (Read 1926 times)

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Offline livemusic

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What about this tractor deal
« on: August 30, 2020, 01:35:29 PM »
Would love input on this.  I found this package for sale...

tractor - Kubota L3560HST (no cab)
front end loader - Kubota LA805
rotary cutter - Land Pride RCR1872
hay spear - Land Pride BS20
trailer - unknown brand, 20 ft, dual 3500 lb axles
tires - R4 type (don't know if has ballast)

All bought new fall of 2019, I think all are 2019 models. Has only 15 hours on it. The young man found he doesn't use it as much as he thought he would and his wife is now pregnant, so, is selling. Was asking $29k, we settled for $27k. It has a Titan quick hitch gizmo on back. All of this looks to be in pristine condition via pictures with only 15 hours on it and tractor has been kept under a shed.

I need a tractor for...
bush hog a 7 acre pasture
occasional dirt work at home lawn, garden and 50-acre woodlot
tree work at woodlot (firewood and whatnot)
leveling garden (will buy a box blade)
moving stuff now and then with FEL

Supposedly has 2-yr bumper-to-bumper warranty and a 6-yr warranty on motor/powertrain and is supposedly transferable.

Do you think this is a good deal? A good tractor and package?

Me and brother will test drive this package.

He financed through Kubota and owes $29k on it. I am not sure but that probably does not include the trailer, he bought at least that from another place of business, a trailer dealer. If I give him a cashiers check and get title to the trailer, am I good to go, just drive it all away? Or should I pay off the Kubota loan and get all that cleared up? I don't know why I should care that he financed it but please advise if I should! I mean, if he hadn't told me, I would not know he has a loan. Long as I give him the money we agreed on, isn't that enough?

I wonder if I will be able to use the hay spear like forks to move logs?

My pasture is on land I bought a few years ago and it has not been cut in probably 5-6 years. It is THICK with fescue grass, briars, tall weeds. In spots has sweet gum and oak saplings about 2-3 inches diameter but I can whack those with my Husky brush cutter if the bush hog won't handle it. I suppose I will need to mow this twice, at least! It's so thick, hard to walk through.

Thanks for advice, will be first tractor I've had since growing up on the farm. My brother will also use it, he's fired up. But I'd like to know this is a good deal, there's lots of tractors for sale.
~~~
Bill

Offline btulloh

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Re: What about this tractor deal
« Reply #1 on: August 30, 2020, 01:47:18 PM »
Sounds like good deal on a new tractor to me.

Never tried hay tines for logs. Im sure theyll do something, but probably awkward. Forks are pretty cheap. 
HM126

Offline sawguy21

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Re: What about this tractor deal
« Reply #2 on: August 30, 2020, 01:50:42 PM »
You make your check payable to him and the lender, he then needs to arrange for the title to be released. If you pay him only and he disappears the bailiff will show up looking for the tractor and you will be stuck with trying to recover your money. I almost lost a vehicle that way. Sounds like a fair price, I had the use of a Kubota HST which was a fine machine. You will want forks with a thumb for logs

old age and treachery will always overcome youth and enthusiasm

Offline mike_belben

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Re: What about this tractor deal
« Reply #3 on: August 30, 2020, 01:52:59 PM »
Yeah, talk to kubota finance and make sure that the loan can be paid off early and the lien removed and title sent to you.  


If he stiffs kubota the repo man is coming for you. Dont take his word for it. Thats too much temptation for some people. 
Revelation 3:20

Offline GAB

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Re: What about this tractor deal
« Reply #4 on: August 30, 2020, 01:58:08 PM »
If the owner does not pay off the loan who will be out a tractor and other goodies when they repossess.
At a minimum the check should be made out to both the finance company and the owner and if possible, the finance company's loan info should be typed on the check.
As to the trailer the same applies and the title should state any lien holders.
Where I'm coming from is in 1982 I agreed to purchase a bulldozer from a fellow who told me the dozer was his free and clear.  At a coworkers suggestion the next day, I called the town clerks office where this seller lived and was told there was a lien which bank it was and the lien number.
The look on his face when I gave him the check spoke volumes.
GAB
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Offline mike_belben

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Re: What about this tractor deal
« Reply #5 on: August 30, 2020, 01:59:46 PM »
Wow ya had a lucky intuition there. 
Revelation 3:20

Offline livemusic

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Re: What about this tractor deal
« Reply #6 on: August 30, 2020, 02:39:05 PM »
You make your check payable to him and the lender, he then needs to arrange for the title to be released. If you pay him only and he disappears the bailiff will show up looking for the tractor and you will be stuck with trying to recover your money. I almost lost a vehicle that way. Sounds like a fair price, I had the use of a Kubota HST which was a fine machine. You will want forks with a thumb for logs
He said he called Kubota and they said due to Covid, easiest/best way to do this is I do a bank wire to Kubota. Now, he says he owes $29k balance on loan. We agreed to a $27k price. I somehow need for him to pay the $2k before I wire the $27k!
I wonder if Kubota would somehow mail, email, fax me a paper showing loan payoff? Preferably email or fax since I would not be wanting to wait on the mail. I am sure they would send payoff papers to him, but, I, the buyer, need that as well!
~~~
Bill

Offline brianJ

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Re: What about this tractor deal
« Reply #7 on: August 30, 2020, 02:42:43 PM »
Id be tempted to leave a handful of those best oak seedlings now they have such a great start

Offline nativewolf

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Re: What about this tractor deal
« Reply #8 on: August 30, 2020, 02:43:57 PM »
I would just call Kubota and get a bid.  Why buy used when Kubota is offering 0%
Liking Walnut

Offline Southside

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Re: What about this tractor deal
« Reply #9 on: August 30, 2020, 02:48:03 PM »
You need to check for "UCC" filings on anything with a serial number on this deal. Kubota will definitely have one, and it's possible someone else has one too if he has a bad debt issue. 

For $27K, given the deal is already getting squirrelly, it would be money well spent to have an attorney do the filings checks.
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Offline mike_belben

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Re: What about this tractor deal
« Reply #10 on: August 30, 2020, 02:54:38 PM »
I think this one may go sour.  If the loan is at his bank its a case of you going to the teller window together.  


Maybe you can go do the payoff together at the dealer he bought it from?  They likely set him up with the kubota finance.  


Unless he has $2k to walk in with, you might have to pay the whole 29 to get title.  It may require having him kick in some other toys to cover the 2k if he dont have it.  I would NOT hand him the money.  Id only hand it to his creditor face to face if i could walk out with clear title.  Im wonder if banks or attorneys have escrow systems for this.   
Revelation 3:20

Offline Walnut Beast

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Re: What about this tractor deal
« Reply #11 on: August 30, 2020, 02:58:07 PM »
Find out the dealer where he bought it and talk to them

Offline Walnut Beast

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Re: What about this tractor deal
« Reply #12 on: August 30, 2020, 03:07:06 PM »
If you do a bank transfer to Kubota on the balance. I would also do a notarized written and signed receipt of the whole deal with whatever is included 

Offline Walnut Beast

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Re: What about this tractor deal
« Reply #13 on: August 30, 2020, 03:28:22 PM »
I would just call Kubota and get a bid.  Why buy used when Kubota is offering 0%
Because usually the dealer has a cash price and a finance price. My recent inquiry on a deal was 10,500 difference on cash price vs finance deal

Offline livemusic

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Re: What about this tractor deal
« Reply #14 on: August 30, 2020, 03:55:32 PM »
I would just call Kubota and get a bid.  Why buy used when Kubota is offering 0%
Because usually the dealer has a cash price and a finance price. My recent inquiry on a deal was 10,500 difference on cash price vs finance deal
You mean cash was $10,500 less?

Anyone think I could get close to this amount of money buying brand new? Just call various Kubota dealers or what would you do? (When I started looking at this deal, I searched the internet and found used prices for low hour equipment identical to this and seems to me, he would have paid quite a bit more than $27k. But he bought this before the crash.)

You would think that in this economic environment (near collapse!), they would be making some sweet deals like I did on my Nissan Titan truck in 2008. The sticker was $30,500 and I paid $18,500. Yep, you read that right. I need a new truck, too, but so far, I am not aware of truck dealers getting desperate like they were in 2008 to get rid of trucks.
~~~
Bill

Online stavebuyer

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Re: What about this tractor deal
« Reply #15 on: August 30, 2020, 04:14:09 PM »
Most of the UCC stuff can be accessed on line these days.
2019 model he probably hasn't paid down much if any on the note and some of the deals are no money down finance deals at 0%. I'd get a dealer quote on the same package and if there is some savings on the used machine for the amount of money involved I would get an attorney to dot the I's and cross the T's to make sure all goes as promised.

Either way that is handy outfit to have.

Offline snowstorm

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Re: What about this tractor deal
« Reply #16 on: August 30, 2020, 04:57:10 PM »
i bought a truck yrs ago for the pay off. we both went to the bank i wrote the check to the bank and they sent the title to me. another time i bought a pickup . the guy hasn't made any payments in 3 months. told him i would pay just what he owed on it. he agreed. so i went to his bank with the paper work saying i wanted to pay it off. they were a lot less than pleasant to deal with. i did end up with it and it kept him from having a repo on his record

Offline Walnut Beast

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Re: What about this tractor deal
« Reply #17 on: August 30, 2020, 06:38:29 PM »
The 10,500 was on another machine not a Kubota 😂

Offline livemusic

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Re: What about this tractor deal
« Reply #18 on: August 31, 2020, 05:50:53 PM »
I have asked for bids from dealers today, got one so far. Based on this, the used package saves me about 21%. Not sure that used package price is a super deal seeing it's used, a year's warranty is gone and I have to go through the hassle of paying off a loan and dealing with an individual. The pluses of the used one are it's all ready to go, just drive away with it. I'd save $8k. The seller seems legit, has a good job (big city fireman) but you never know.

Thinking back to the distant past, getting a 21% discount on something used... not a great deal. What do you guys think, is this the way the market is now? Less discount for something barely used than in the old days?
~~~
Bill

Offline Woodfarmer

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Re: What about this tractor deal
« Reply #19 on: August 31, 2020, 07:10:52 PM »
Id go with the used one, $8k is a lot of money 


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