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New or second hand?

  • 23-11-2020 6:29pm
    #1
    Morris Moss
    Registered Users, Registered Users 2 Posts: 561 ✭✭✭


    Right folks some help appreciated here, looking at buying a tractor.

    If going new I might be able to get 0% finance on it over 5 years.

    If I go second hand finance will be about 3% but the tractor itself will be about 35,000 cheaper than a new one.

    I'm leaning towards new but any other suggestions are welcome.


Comments

  • #2
    Grueller
    Registered Users, Registered Users 2 Posts: 5,345 ✭✭✭Grueller


    Morris Moss wrote: »
    Right folks some help appreciated here, looking at buying a tractor.

    If going new I might be able to get 0% finance on it over 5 years.

    If I go second hand finance will be about 3% but the tractor itself will be about 35,000 cheaper than a new one.

    I'm leaning towards new but any other suggestions are welcome.

    Go 7 years on the finance and go new. The payment with the subsidised interest will be little more than the second hand one over 5 years. Also the seven year period matches the depreciation on the books.
    I have been looking for a second hand one that Inlike for 2 years. The closest I came was a 6 year old tractor with 3500 hours. I could buy the equivalent new model for €23k more. That is roughly €6.50 per engine hour. I am thinking of going new too.
    What brand are you looking at?


  • #3
    Morris Moss
    Registered Users, Registered Users 2 Posts: 561 ✭✭✭Morris Moss


    Grueller wrote: »
    Go 7 years on the finance and go new. The payment with the subsidised interest will be little more than the second hand one over 5 years. Also the seven year period matches the depreciation on the books.
    I have been looking for a second hand one that Inlike for 2 years. The closest I came was a 6 year old tractor with 3500 hours. I could buy the equivalent new model for €23k more. That is roughly €6.50 per engine hour. I am thinking of going new too.
    What brand are you looking at?

    Thanks for that, the 0% finance is the really tempting bit going for the new tractor, also the second hand one is in England so would have to bring that in myself which would be risky.

    A deutz 6185, lovely tractor, probably more power than I'll ever need, but a wagon could be got in the next few years


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