If you are shopping for a tractor, it is only natural for you to focus your attention on the brand-new machines with stunning paint jobs, that “new tractor smell,” and the latest features and amenities. However, a new tractor might not be the best option for your farming, agriculture or construction business. It might make more sense for you to purchase a previously owned tractor that has been well maintained. A used tractor will have a much lower price point and, in most cases, will tackle jobs just as well as a new tractor.
Shopping for a used tractor can be very time-consuming, not to mention confusing. This Balboa Capital blog article can help guide you in the right direction. It explains where to find used tractors for sale online and in-person. Also included are some of the key benefits of buying a used tractor, as well as some helpful information about the various purchase options that are available, such as tractor financing.
Tractor dealers.
Buying a used tractor from a local farm equipment dealer can help you navigate through the countless makes, models, and options you will have. You will work closely with a dealer sales manager who will show you used tractors based on your specific work requirements and budget, and answer any questions you have. If the dealer has multiple locations in the area, additional inventory might be available, so make sure to ask.
There are farm equipment dealers in towns and cities throughout the United States that sell second-hand tractors. You can find them by conducting a search online that includes your city and/or zip code. Most dealer websites list their used tractor inventory by make, model, year and price. It is a good idea to visit one or more dealers in person to see the tractors before you make a purchase. You want to make sure you are getting the best possible deal.
Online equipment sellers.
With just a few mouse clicks, you can browse thousands of used tractor listings for sale nationwide. They are listed on equipment marketplaces that bring tractor buyers and sellers together in a “virtual” marketplace setting. Although this is more convenient than in-person shopping, you will not be able to physically see the tractor, start its engine, or give it a thorough inspection. So, make sure you ask the right questions via telephone and/or email, and get the tractor’s condition and history in writing.
Another thing to consider when buying a used tractor online is the cost of shipping it to your location. Obviously, shipping fees will be lower if the tractor is available for local pickup or is located within a reasonable distance. If it is located hundreds of miles away and requires a high shipping fee, you might want to look elsewhere. Contact the online seller and ask them to calculate the shipping cost, whether via flatbed or carrier, before committing to a purchase.
Heavy equipment auctions.
Heavy equipment auctions are a great way to get a used tractor without having to break the bank. Sellers who include their tractors at auctions are more likely to start the bidding at lower price points to guarantee that they get sold. That means you might be able to land a high-quality used tractor for significantly less than a private party or an equipment dealer would charge.
There are many in-person and online auction houses to choose from, and you can find them online. If you want to participate in an auction, do your research and become familiar with the process and policies of the auctioneer you select. You will need to become knowledgeable of the bidding options (e.g., onsite, online or proxy), the bidding methods (e.g., reserved price, unreserved price), and the tractor shipping costs.
Private parties.
Buying a used tractor from a private seller might seem easier and more affordable, but it might present you with problems if you are not careful. If the seller cannot provide you with important information such as the original invoice (or bill of sale), proof of ownership and repair history, you should stop the negotiation process and avoid moving forward with the purchase.
Most people are genuine and honest, but there is always the risk that a private party is hiding something. A worst-case scenario would be to buy a tractor and find out that it has an outstanding lien. If the tractor has unpaid loan or financing payments due, this should be communicated to you at the start, and disclosed in writing.
Used tractor checklist.
When buying a used tractor, it is very important to conduct a complete inspection and evaluate more than just normal wear and tear. Check for odd engine noises, engine/oil leaks, faulty wiring, oil pressure problems, low tire tread levels, and other potential issues. You should also inspect the tractor’s engine while it is running to make sure the oil pressure registers upon startup, the voltage meter charges properly, and the 3-point hitch and hydraulics work properly.
Do not be embarrassed to ask the seller where the tractor was used, or how many previous owners it had. It is important to know the types of conditions (e.g., hot, cold, wet) the tractor was exposed to, as this could impact its performance in the future.
Purchase options.
Used tractors are more affordable than their new counterparts, but they can still put a dent in your finances. A small two-year-old tractor can cost upwards of $25,000, and a large used tractor can cost between $45,000 and $85,000. These prices do not include tractor implements. Used tractor financing is one of the most popular options among business owners in the farming, agriculture and construction industries. Unlike a cash purchase, financing lets you keep your existing capital for future business needs and only requires predictable monthly payments.
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