# Peterson Says "Maybe Never Better Time To Buy" ??



## Vol (Jul 5, 2009)

Be sure to read the comment at the bottom.

Regards, Mike

http://www.agweb.com/article/machinery-pete-never-a-better-time-to-buy-naa-greg-peterson/


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## shortrow (Feb 21, 2012)

I'm going to hang on to what I've got for a minute or three........


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## rjmoses (Apr 4, 2010)

My thoughts (and fifty cents will get you a cheap cup of coffee) are that next year should be an even better time to buy.

1) With low grain prices, a lot of people will be in a mid-year bind next year after seed, chemicals and fertilizer bills come due. CHS hereabouts is offering a deal to buy seed now with NO payment due until next November and 0% interest. Shows how tight they must think things will be.

2) People are buying older equipment now at premium prices. Second tier equipment is not yet on the market but will come up for offer because sellers will be thinking their newer, lower hours equipment will be worth even more. They'll be anxious to sell, espeically if they have committed to a brand new piece of equipment.

Just my thoughts.

Ralph


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## somedevildawg (Jun 20, 2011)

Like the comment....spoken like a true conservative. I'm with him, when cash flow is minimal, it's best to keep spending minimal. "Jest aint enuf money circilatin"......(what grandad always said anyway)


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## Teslan (Aug 20, 2011)

I returned the MF 7726 tractor this morning that I demoed and rented this last week. Though I told the salesguy that I didn't want to buy anything until at least next fall he wants to write up an offer or even search for a very lightly used newer similar tractor and write up a proposal for a trade with my JD 7810. Can't fault him as it is his job. It will be interesting to see what he comes up with. The MSRP on a MF 7720 with the features I want is about $204k. I'm not opposed to see any offers. My wife is strengthening my backbone to say no even if it's a good offer.


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## somedevildawg (Jun 20, 2011)

A good wife can have a way of doing that......think they call it "keeping us in check"...kinda unfair, they do hold the better hand


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## deadmoose (Oct 30, 2011)

somedevildawg said:


> Like the comment....spoken like a true conservative. I'm with him, when cash flow is minimal, it's best to keep spending minimal. "Jest aint enuf money circilatin"......(what grandad always said anyway)


True conservative? Nope. True conservative would speak very highly of zero payment programs. I sense tongue in cheek with the "fine" comment.

"With grain prices well below the cost of production and a total goose egg from our fine farm program, I can't think of a worse time to buy."


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## Vol (Jul 5, 2009)

Many grainers may not have the excellent yields next year like they had this year, which was a saving grace for a lot of folks this year.....if that occurs, it will be a total buyers market on much of the late model used equipment. I wonder how many of these late model sell offs are Tier4 related somehow?

Regards, Mike


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## swmnhay (Jun 13, 2008)

I received a couple fliers from different eq dealers last few days offering lease deals on late model trade ins.A lease to buy type deal.In reality they are just financing your purchase instead of the bank.Probably doing this because the bankers saying no to purchasing it.


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## Uphayman (Oct 31, 2014)

somedevildawg said:


> A good wife can have a way of doing that......think they call it "keeping us in check"...kinda unfair, they do hold the better hand


Just had this conversation with the Mrs..........uh, not the best time to buy......Pete!


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## Tim/South (Dec 12, 2011)

My wife is of no help at all. Her reasoning is, "Buy what you want, life is short." It took her 3 years of saying that before I bought my first brand new tractor and she insisted it had a cab. I have not blown "hay buggers" since.


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## Teslan (Aug 20, 2011)

If there are great incentives on new and good trade values and you need a new tractor that might make you more efficient and you can afford it then it might indeed be a good time to buy. Like I have a friend that leased a new MF sp swather. He had a pt swather and that was a bottle neck in his operation.


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## glasswrongsize (Sep 15, 2015)

> 1) With low grain prices, a lot of people will be in a mid-year bind next year after seed, chemicals and fertilizer bills come due. CHS hereabouts is offering a deal to buy seed now with NO payment due until next November and 0% interest. Shows how tight they must think things will be.
> 
> 2) People are buying older equipment now at premium prices. Second tier equipment is not yet on the market but will come up for offer because sellers will be thinking their newer, lower hours equipment will be worth even more. They'll be anxious to sell, especially if they have committed to a brand new piece of equipment.


*Mostly,* I agree. My "financial advisor" (not the wife) has been telling me for the past year "hang onto your cash. It's gonna get worse soon and all you'll be able to buy it when no one else has cash."...Of course, my "want list" can be fulfilled from items that the week-end warrior pays too much for and plants deer food plots and rakes their arenas. The 100+ HP stuff MIGHT not drop as fast because more of it was purchased with aforethought. A lot of the 40-70 HP stuff (in my opinion) get bought with no intention of making full use of it (Kinda like town-folk driving the latest Dodge Dually with chrome wheels, smoke stack, and bed cover).

But Ralph, I rarely disagree with any of your thoughts, but I am afraid that senility may be catching up with you...



> My thoughts (and fifty cents will get you a cheap cup of coffee


You can't buy a cup of coffee for fifty cents anymore...even a cheap one. 

73, Mark


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## azmike (Jan 4, 2015)

Debt free, what is wrong with that idea? The business options grow as the economy shrinks, cash is king.


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## VA Haymaker (Jul 1, 2014)

Warren Buffet said something to this effect: When people are fearful, I'm greedy. When people are greedy, I'm fearful.

If the market is weak and you got the cash - buying is probably a good option, lots of potential deals.


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## stack em up (Mar 7, 2013)

And i say OL' Machinery Pete needs to put his money where his mouth is... It's easy for him to talk like he does, he has no skin in the game.


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## Vol (Jul 5, 2009)

More Pete....

Regards, Mike

http://www.agweb.com/article/machinery-pete-eye-opening-tractor-values-naa-greg-peterson/


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## deadmoose (Oct 30, 2011)

stack em up said:


> And i say OL' Machinery Pete needs to put his money where his mouth is... It's easy for him to talk like he does, he has no skin in the game.


I beg to differ. He isn't exactly a weatherman. He has a reputation to uphold.


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## mlappin (Jun 25, 2009)

Still say it's easy to tell somebody to buy something if their hand isn't in your pocket. Kinda like the national healthcare ponzi scheme.


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## stack em up (Mar 7, 2013)

deadmoose said:


> I beg to differ. He isn't exactly a weatherman. He has a reputation to uphold.


Absolutely he does. He is also on the payroll of Sucxessful Farming media, which is in part on the payroll of NAEDA (North American Equipment Dealers Association).

I just know that in our area, very few major purchases being made. Of course you have those guys who roll combines every year, and those who buy new for various reasons. Most of those are also spending money made generations before them.


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## steve IN (Jan 13, 2010)

I am not so sure the deals will be so great now that the EPA agreed to raise the fuel standard. This wont do anybody any good as far as rents are concerned. Once again the youngsters cried and daddy USDA fed them a new bottle of higher prices and changed their diapers with the consumers wallet


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