Buying a New Tractor is a Waste of Money
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- Опубліковано 5 жов 2024
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We get those comments all the time - "it's not worth it" "how much money do you make doing that?" My response is always the same: Not everything in life has to make a profit. Does a boat make a profit? Does golfing make a profit? 🚜💪!
Great point piney grove... Is venison cheaper than beef... after to obtain all you need? Some times the JOURNEY is more valuable than the destination. I enjoy BOTH your and Rockhill's channels. My little podunk channel I do... for fun.
We have been debt free for 10 years… so cost benefit is always a consideration. Not the only, but important one. We always try to get the activity to at LEAST cover its cost. Our tractor was justified because renting or hiring tillage was costly, and in the end has residual value. Retired airline pilot…and I drive a 2007 SUV.
HEY!!! Leave golf alone...it costs me a lot of money and I enjoy that just as much as I do my tractor!!! hahaha
Only thing I’d add is that maintaining your property increases its value. I don’t earn a living with a tractor, but a tractor is an investment that allows me to be a good steward of the land.
I bought a brand new subcompact tractor to save my back in the long haul. I’m mid 40’s and don’t want to be crippled in 20 years.
I agree completely, I’m early 40’s but worked quarry maintenance for the first 20 years of adult life it’s ease of the work a money at this point
I agree, I'm 48 and bought a 2023 New Holland WorkMaster 25S with a backhoe and that little thing has been a life saver with all the work I've used it for. Or you can do everything manually and wear yourself out.
Every man needs to show this video to his wife. It's more than spending money and driving a machine around. It is a hobby, it is working out and being healthy, it is a psychiatrist stabilizing your mind. Exactly right. Do you need another car, a boat or 3 more guns? What about that cruise to Europe? What does that do for you the month you get back? Buy a machine. Get connected to the planet and you inner self. Live longer, live happier.
> Every man needs to show this video to his wife => or find a wife who enjoys those things too.
Hobbies don’t always make sense, do what pleases you.
I have forty acres and a tractor. Money is no part of that. I'm 70 years old, and do everything myself. I don't hire folks to do my work. If I did, I probably would have died years ago. That's just me, and I like it. Thanks for the great video, Brock! 😊
There is also something generically called "seat time" when driving a tractor. To me, it can also be called "tractor therapy". Just sit there mowing a field or whatever and either zone out completely or get some quality time to think about whatever you want to.
Happiness comes from a 2 stroke 353 detroit diesel log skidder screaming up the side of a mountain with a turn behind it, front tires barely touching the ground. I have several videos doing this, sure I make great memories with my family, but when too old to do it anymore I want to look back and be able to remember the joy this brought me. This is my happy place, I don't drink, smoke, chew, vape, do drugs, I'm rather boring and would be a cheap date. I have a hobby that keeps me in shape, and gives me enjoyment and a bit of cash. I'm with you on this.
Great perspective and conversation
Bottom line, using fourth-grade math it's pretty easy to crunch the numbers and arrive at statistics measuring the cost of something. It's the intangibles, like self-satisfaction, health benefits, self-sufficiency, enjoyment, recreational aspects, pride of ownership, etc., that you can't put a price on.
I understand what you’re saying, I can’t justify the money I spent on my Tractor and implements. I don’t use them every day. But when I need it I need it. And I enjoy working with quality equipment. My tractor is my helper, my wife can’t help me, so I rely on my equipment. That’s all the justification I need.
Our new tractor was a family purchase, because we have a lot of property to maintain. We started with a 40 year old tractor and then added a new razzle dazzle tractor that is much more capable with more tasks. However, we kept the old tractor because it can get into some areas that our Grand L can't go. Both give us all tractor therapy moments when in the seat. Yes we could hire out the work, but we arent waiting on someone else calendar. Also, we can change the amount of work since we have the tractors available on our calendar.
Everything does need a cost justification it just needs to include an understanding of you wants and future needs. Once your needs are covered there is only savings and "want" expenses.
I was a guy who built/flew ultralight aircraft as a hobby. Sport flying of any kind is a passion driven money pit. As time went on I designed, built & sold my own brand UL aircraft, it eventually became my fulltime 'job'. Funny thing is that my passion for the sport diminished as income from it increased. Hobby farming, fishing , flying, golfing (etc), are money pits; some of us are fortunate enough to have the time and resources to enjoy that.
For me I enjoy using the tractor. Plus with the Ash Borer having killed off whole areas of woods, I'm constantly clearing the trails in the woods I own, cutting up the trees and hauling it out. I also use it to brush hog and till the food plots for deer hunting. Then in the winter when I get two and three feet of snow on my driveway which is 12 ft x 300 ft is sure is nice to have that tractor. When I needed to put in a 5 ft culvert pipe in ditch that was 14 ft deep x 34 ft wide and I put in a 20 ft x 5 ft culvert and had to move about 200 yds of clay it sure did a nice job. Plus moving the gravel to put on top of the culvert. Plus two 2 ft x 10 ft culverts. I will tell you one thing, living in the country is a hell of a lot more expensive than living in the city. But you could never move me back into the city. Grew up in the country, moved for work in the city. And now back into the country. Thank you Lord that I could. Take care Brock. That one beer sure got you on a roll about cost effectiveness. LOL
This is 1 of your best videos, hun. Keep em coming!
Good thoughts! I am bad about focusing on the "profit" of every purchase I make when some things are more important than the dollar.
Not many videos hit home like this. Just put a contract on a 3 acre country property in Iowa to build our barndominium to watch the deer, turkey, and bald eagles. Buying a tractor probably bigger than I need with a cab for snow and brush removal and various other chores. Probably financially stupid. Should stay here on our 1/3 of an acre with great neighbors and low mortgage payment but off we go to start a new adventure together. Life is too short and I've lost too many friends and family to not have learned that lesson. If the love of my life is excited and on board I guess really that's all that matters. If it becomes too expensive or too much for us to manage in later years we can sell it and move into a condo and probably make some money on our investment in the land, our time, and our labor. Thanks for all the videos that are helping in my tractor decision! I try to live a good life, be kind, and take care of others.
Falcon X. You took the words out of my mouth you couldn’t have said it better.
@@Flatbed2316 Thanks bud!
LOL "you could get sea sick" ..Im with you tractor time beats boat time.
Agreed! I changed the tires on my truck by myself, saving $300. But then threw out my back and was in pain for a month!
For you, you found out changing tires wasn't for you. Know you limitations, just walking down your be back step can be deadly 🤕
I twisted my knee, stepping off the back porch. And I'd still rather rotate or install the tires myself that drop off a vehicle for someone else to do it. That's two UBER rides for droppin it off and going back to pick it up.
@@ronjclm8590 l hear you, buddy of mine had someone mount some 35's on an old Toyota straight axle 4X4, pinched one of the rims tightening the lugs. Very lucky felt the shimmy (wheel loosened)before coming off
hi there interesting , when i buy a piece of equipment i look at what it is going to for me not the cost factor , more like a hobbie . my sawmills were never bought to make money . they are just another tool in a bigger tool box . good show john
Many good points Brock. You've gone down a rabbit hole that I try my best not to do, but inevitably end up doing as well. We all try to justify the costs of things to a degree. I think the better off we are (individually) financially, the less we tend to need to do that. We moved to the U.P. of MI three years ago, after we retired (mostly) pretty early compared to a lot of people because we've been fortunate. But since moving here we've spent WAY TOO much money on things that will never give us a ROI in dollars and cents, but gives us returns worth more than money to us. My Kioti 7320 brings me great joy when I'm moving logs out of the woods. The side by side that we bought gives us a lot of pleasure when both riding on the trails that we've cut through our woods, or just using it to move firewood. Then there are the snowmobiles, that are solely for enjoyment, and don't even do any work around our property to earn their keep! But we get a return on each of the things that we've bought so far, even if it's not in money. They improve our quality of life. Of course, it's easier to feel this way when you've been lucky enough to be relatively comfortable financially.
Great Point,I retired to a 100 acre property that's been in the family for 75 years. it needed a lot of work I have a tractor with a bush hog and a side by side. I recently bought my Corvette which is actually a Kubota 75 hp CTL with several attachments . Will all these purchases pay for themselves? NO. The enjoyment I get operating these tools is priceless in my opinion, but I'm fortunate that I can afford them.
I think you're exactly right. Sometimes it's important to look at what you're doing from a financial point of view, and sometimes your emotional connection to something has more value to you as a happy human being. It's all about balance. I'm glad to see you doing what you enjoy. Keep living that life, brother.
I live in Canada and it has paid over and over to split my own firewood, I enjoy it but also peace of mind knowing if we have a bad winter storm my home will be warm even if the power goes out... can save generator fuel for other things then running a furnace.
I thinking buying a tractor can easily be justified. My co coworker bought a 30 thousand dollar side by side that only cost him money as he drives it... I spent 30 thousand on a tractor and attachments. I haven't made money with my tractor.... but its saved me money. I rented a skid steer for 500 bucks a day, and now I have a tractor so I can use it when I want. I think if you can sneak a tractor loan into a mortgage you'll barely notice it and if you maintain it right 10 years later a tractor is still worth something.
Brock, you had a really good topic here today and you put the banter brilliantly. The bass boat was a really good analogy and whether you are a tractor guy or boat guy it doesn't always comes down to dollars and cents. However, it seems people are always fixing on boats, not so much with tractors and tractors save backs and get work done all while you enjoy owning them and operating them. It has been said the two best days in a boat owners life is the day he/she buys it and also sells it. As far as tractors go, I have owned my tractor 4 years now and I have made a list on everything I have accomplished with it, and it is amazing. The only regret I have with my tractor is I should of bought it thirty years ago. BTW, if my Kubota subcompact gave up it's ghost tomorrow, it owes me nothing, and I would out buying me a brand new TYM 25 hp compact.
It’s cheaper than a shrink and at the end of the day you’re mentally stronger plus you have a machine!
Well said. When I'm on my tractor developing my land by myself for our house to raise my 2-year-old son, I get more satisfaction than what the machine is worth. It's a tool that helps me tremendously. The chain saws cost a few hundred dollars each, but they are great therapy. Do what makes you happy!
Good morning Brock. I know that I haven't commented much lately because most of the topics that you've covered I didn't feel that I had enough knowledge of the subjects to say anything about them although I never miss a video. But, I have so much to say about your topic today that I could go on for hours. I wish that you lived next door. 😀 I won't go into detail but I am that 74 year old retird guy that lives in the mountains that is virtually debt free who bought a used 400 hr. tractor. Anyway, like I said I would love to have a conversation about this with you sometime. God bless and have a wonderful day. 👍👍🙂
I bought a new 2017 LS 6168CPS for $37,000. I used it on my farm until 2 weeks ago, so about 7 years. I sold it for $33,000. So I spent $571 dollars a year to use a nice modern cab tractor with warranty that helped me gross $70,000 in hay yearly.
It's absolutely worthwhile to buy new.
I bought my 2032R john deere 6 yrs ago. i have a little over 1600 hrs on it. The best money i ever spent, you can't hire someone to do things the way you want. Now, do I wish i had more lift capacity? Well, yes. If i was younger i would have a woodlandmills, mill, a skid steer, and an excavator.. But at 76, it's hard to justify... LOL.
My math tells me that over the next 20/30+ years. It'll be worth it. Starting in 1991 at 37 years old, I bought 3 new Corvettes. I sold the last one in 2012. The 1st two were ...a lot of fun. BUT, I got more satisfaction from the equipment that I bought to use in my business. People in the same business always talk about using a piece of equipment ENOUGH to justify the cost. I'm guessing that they want the equipment to make it's own payment...even if it's wore out about the same time the last payment is made. I just want the convenience of having it available, even with low hours for the rest of my life. I'm 70 now and none of it owes me a dime. And I'd rather have my 1999 & 2000 model tractors than a new one with DPF and several sensors & computers. And my old stuff, still has a good deal of resell value.
I have a terrible tool addiction. Tools for several different trades.
Used is more cost effective - provided the equipment is up to the task. Warranty is not a concern, so you can MOD/repair/improve what you need w/o worry. Especially, if you are way out of town, and need to be self-sufficient (as much as possible). Paying to have somebody come out is a fee (for me), so, log splitter - I have lots of Aspen that saves on fuel in winter, old tractor - to grade my driveway, move rocks/trees for my mill, etc. each piece of equipment helps to "do it myself", but more importantly - I can do it NOW vs. waiting a week for the contractor to come up to move that giant rock/tree or mud slide.
I totally agree Brock. I am currently in the process of purchasing my first and probably only ever compact tractor. I have a 5 acre property 1/3 woods and 2/3 pasture / lawn. I don't need a compact tractor, there are a few things and projects I can use it for but not enough to "justify" the cost. I want one. 😉
You are wrong….you NEED a tractor. You will be shocked how much you use it. I have 12 acres and use it for all sorts of things!!!
@@timcrosby6820 Oh I am sure I will find things I need it for to justify it to myself. 😉😆
If you can afford a compact tractor, buy it. Life is short and you will have many wonderful hours on your tractor. Wish I lived on a small farm I would purchase a compact tractor and drive off into the sunset.
I was able to cost justify my tractor and implements (box blade, rake, tiller, brush cutter and disc harrow) after doing 3 projects - installing a 400 foot long gravel driveway, backfilling around the foundation for my house, and preparing an acre of ground for elderberry fields and a homestead garden.
Beyond those projects, I've used the tractor and the brush cutter to keep 7 acres of land mowed. That would have cost me a fortune to pay someone else to cut it as frequently as I do myself.
And yes, the mental effect of being capable of doing these sort of things on your land yourself is priceless.
Take care and God Bless.
I’ve done 900 hours on my little John Deere. I don’t know if that justifies $35,000 but I’ve done so much work and got paid for some of it.
@@RockhillfarmYT But you still have PLENTY of tractor left.
@@ronjclm8590 it is still worth a lot
My .02 as an Accountant. Doing a cost benefit analysis is a great exercise and starting point. It's healthy and responsible to at least think about it, but it doesn't have to be the end all decision maker/breaker. Most of us can't just choose to make more money at our jobs. Clients are finite, the hours a job is willing to give an employee are usually finite. I find that if I can even break even on some of these homesteading activities, while learning a new skill, getting exercise while doing it, fulfillment from being in nature, etc. usually outweighs the raw calculation most times. I dont' want to sit at my desk an extra hour or two per day just because it might make more financial sense. That's not a fulfilling life for me and I would think most people doing these activities would agree. That being said, be smart where you start. Don't buy the biggest tractor, log splitter, mill, etc. when you are wading into the waters of new hobbies. Most of these items can be sold to recoup a sizable % of the cost if a larger unit is needed in the future. Fit it into your budget, be realistic and have fun with it. GL to everyone out there in your endeavors.
I'm surprised that an accountant could rationally get past the Return On Investment (ROI). Congratulations !!! 😁
@@ronjclm8590 LOL well, I have 2k feet of gravel road to plow for a starting point. Wife getting to work safely was a large push in that direction 🤣
As mentioned here, I buy equipment that I need now, or will need as I get older. Bought a home on 3.5 acres in 1999 and immediately started buying equipment that will allow me to maintain it as I get older. 62 years old now and still in relatively good health, but eventually hand dragging a cut down 4 inch sapling to the brush pile won’t be my preferred method. A sub-compact tractor, heavy duty Husqvarna garden tractor, big zero tun and a wall full of cordless yard/pruning equipment will hopefully keep me able to take care of the property for a long time to come.
You buy it to have your independents, and because it's something you enjoy, hardly anything one buy's can really be justified.
Brock I own 20 acres, 12 is woods. My wood stove after rebate cost me with install about 3500 bucks, I have unlimited wood, i actually have yet to cut a live tree down yet as I process what’s on the ground first. I bought an 800 dollars used American made Brave splitter. Heating with wood cut my yearly propane usage by 500 gallons a year at over 3 dollars a gallon and I have an 8 year old very efficient home. So in less than three years I have covered all my costs and more and it takes me about 8 hours of labor a year to cut and split a winters worth of fire wood. With a wood stove I forever have heat, warm food and sanitized water no matter what happens to the grid or petroleum fuel supply. Heating with wood is not just cost effective it’s absolutely necessary from an independence and freedom standpoint.
Brock, I loved this video. I am a professional firefighter, and my job can be very stressful. People have a multitude of ways to deal with stress, and one of mine is spending time on my tractor. You are dead on the money, I will take a day of tractor time over a day on the lake.
I bought my tractor new, mostly because where we are in Canada , you are not saving much money buying used, but potentially inheriting the previous owners problems.
Some of it is about time too. I don't want to drag a trailer to town to rent a piece of equipment. I don't want to work around the person you could hire's schedule. I want to do the job when I want to do the job. I enjoy it also. I actually like doing "tractor stuff", especially moving snow.
I also have a couple antique John Deere tractors and a couple old plows, a disc, and a pull behind mower. I don't need those for anything, but I like to play farm out in the field every once in a while.
I bought a used 28HP tractor and found out there were too many problems with a small tractor for our property. The shuttle shift killed my knee with all the shifting (old age I guess). I sold it for more than I paid for it with some upgrades I did like large mirrors and small $25 a pair amazon LED flood lights. More my labor than the cost of components. I looked for a suitable 50+ HP tractor with a hydrostatic drive. With the cost of used ones now and the high interest loan rates I decided to get a CT5555 Bobcat with 0% for 84 months. I negotiated the services up to 600 hours to be free. I just have to deliver it to them. I have a 1.5 mile steep driveway and I'm in southern AZ with a monsoon season. Each time I get a grader to clean the driveway up it's $600 to $900 while the grader is in the area. Three to four times that if I mobilize the equipment just for my use. It will not take too long with a 5ft 6 way scraper blade I bought used for $400 and a used land plane to start to recover my cost. Had I been paying 7.8 to 8.4% interest on that tractor it would not work out especially if I had to pay for the services for the first 600 hours of service. So i'm not too sure it is a one size fits all.
I would agree with the financial part for most people. I bought a new LS a couple months back and honestly it has saved my broken body so much I wish I had bought it sooner.
13:00 Have you ever tried to hire someone to cut your grass? Heh. Trying to get anyone to show up three times in a row to do ANY sort of yard or house maintenance is near impossible, especially if you expect them to show up when they say they will, charge a non-exorbitant price, and do a good job. Those days are long gone.
You are so right. I have kicked contractors off my property because they were doing a terrible job.
@twc9000 I don’t hire anybody to do anything really.
I've been a landscape contractor for over 40 years. We're always on time. Year Round Service...only. Our minimum for lawn maintenance is around $250 a month year round. So that's $3,000 a year + seed, fertilizer, etc. So, 5 of those lawns will buy a $15,000 lawn mower that lasts us many, many years. But I'd never pay what we have to charge to run a business.
I’m not a follower, but I’m that 60 y.o. with a new retirement house and I’m looking at a subcompact with a loader. A zero turn (used) would be better (ROI of 1 year), but I might still want that used 23-25hp diesel subcompact with the loader, just to cut half as fast as the zero turn.
Great content. I'm 68 years old and have 100 acres that's been in the family for 75 years in north central Arkansas, I recently bought my Corvette. Actually it's a Kubota 75 hp CTL with several attachments. Will it pay for itself? Probably not, unless I factor in the enjoyment I get doing my own work on on own schedule.. The math worked out for me.
Great video!
This video resonates with me as someone who is 42 years old and quite successful, professionally. I don’t want a sports car or a flashy boat, but I’d rather have a mini excavator, small tractor, and an old Jeep.
Exactly. I just want to
That’s some really good analogies. I love my compact 1025r. I agree I really didn’t need it, but it’s so handy to have it. I bought my used, it’s a 2017, that I got a really good deal with an added, backhoe, snow blower, and a box blade. It has been really handy at times, but not all the time.
You know what I'm damn proud of your video I hope it goes viral and I wish more people would think of it like that before getting to work job because sometimes when you get to be 40 years old you realize it's all about being happy
To me it is the quality of life. I have a tractor, log splitter etc. None of those things “pay” for themselves in dollars. But at 61 it gets me outside and moving away from the tv. Same with the garden, due the math on a small garden and you can buy a lot of vegetables for the time and money spent yet I will be rototilling today.
I agree. I used to split a lot of wood and sell the excess. Not so much anymore. Too much work for too little money. I also considered buying a new tractor. I can easily afford it; but I wouldn't use it enough to justify it.
One thing most don't understand is most of the UA-cam channels are exactly that, just guys making UA-cam videos, they're not loggers, not sawmill yards, not farmers, but to us that are, they sure are fun to watch
I bought my tractor in 2019 two years old. 4052r with a cab. I just purchased, arriving tomorrow, a zero-turn mower, a 2017 Scag Tiger Cat with a bagger, for less than 1/3 the cost of the new one. Now it hasn't always worked out. You and I discussed the Bobcat that I lost 15K on. If I could, I would buy more new things, just for the convenience, but I can't afford them.
Lots of really good thoughts here. Thanks! I suppose the only financial factor that you may want to also consider is that, considering how the price of everything continues to rise, when it comes time for you to sell your tractor, you'll probably get quite a bit of of your money back. Just my two cents… :-)
Fully agree. That said I don't like spending money so when I got my New Holland TC29D I got a mid mount mower for it because my cub cadet wasn't going to mow my new 4 acre property and I found the deck for $400. Way cheaper than a zero turn. Zero turn might be faster but I can't see spending $4000 on a mower when it might save me 1 hour every 2 weeks.
Damn it, Brock. You're going to talk me into buying a tractor yet!
I’m a little bit obsessive about it I guess
Brock, I went through this same thought process before I bought another tractor. We have three now. BUT, I wanted a new 4x4 tractor because I use my tractor for stress relief and relaxation. I also own 10 acres and take care of 250 acres. I ultimately chose a TYM T474 to be companions with our John Deere 5103 and International B414. I am the care taker of my land and it is what I want to do. In my case, there is no cost justification, but the self satisfaction justification is priceless.
Nice machine
@@RockhillfarmYT Thanks. I love it.
Very smart reasoning. Thank you!
I think like you do too! I will volunteer to bush hog for someone, just so I can operate my tractor. 😅
Brock ,I gave up my golf/county club membership ,my 2 health club memberships ,bought a JD 3033R 8 years ago ,and I'm happier and healthier than I was then , and I have NEVER even thought about all the money I have saved !!😊
good video Brockster !
pc
Yes sir
Some of us are looking for some thing that our lives were missing before
Lots of great conversation topics this conversation.
Justification is something you do your whole life.When that ends,and you just buy it,you know you made the right moves.
I was looking at the TYM based off one of your videos. A dealer for them and others like Kioti said the TYM was “cheap on their seals, problems with exhaust flappers” etc. I don’t know. I just want a good cheap capable tractor to help do heavy work to save my back.
Anybody can say whatever they want. Doesn’t necessarily mean it’s true. Join a TYM group and join a Kioti group. See what kind of problems are having
I think TYM is the best value out there
Don't forget that the machine is still worth something when you are finished with it. You didn't really spend that full purchase amount to get those jobs done.
I bet you thought up all this stuff while sitting on a tractor! Love the videos from "The Big Tinhorn".
Another good show ole’ chap….cherrio ole chap!
If you own land you cut timber and you use your tractor for maintenance and logging etc and you build yourself just ONE nice building or shop, then your equipment is financially justified in my opinion cuz just price out getting one shop built
I’m in the process of getting a new tractor. The payment each month is gonna be roughly $375. I think about the people who pay that for a jacked up sxs to go throw in a mud hole every weekend. At least with a tractor I’m getting SOMETHING in return. lol
I had wanted a compact but I decided to go with a 50hp.Mahindra.It lifts a log with no problem ,pulls a 26kw generator which is a must in S.E.LOUISIANA ,bushog ,run a tiller. I'm old school ,still like the manual transmission.
That was a good talk. I love to buy a new piece of equipment. I enjoy using the tools I buy. I like to by high end stuff if I use it a lot and it does pay off. You may get lucky and know someone who is retired and enjoys doing that kind of stuff so he charges you not nearly enough to work for you. But in the real world for the most part people will charge you a ton of money for doing work for you especially if equipment is involved, can't blame them, life is expensive. The trick is to enjoy working using the tools and never let the customer know how much you really enjoy it and charge just a little less than the insanely high price of others. You've got to charge enough or you won't be able to keep doing the work and still charge less than others. Thats the sweet spot I try to stay in anyway.
I had this thought about new was to much. I discovered the older Deere 55 series compact tractor. So much less cost then new. Also I have building my own attachments for it.
Very nice barn. Where did you get that thing and how much was it
I just paid $2300 to have a guy and his excavator clear and level two acres. In my mind hat’s 5-10% of a compact tractor. Damn, just gave that guy my down payment.
If I had to cost justify everything I did/do, I would of never had a kid. Yet, I wouldn't trade her for anything. Sometimes in life, you have to just live it and enjoy life. Doesn't mean you aren't a good steward of your money, but realizing that you aren't taking it with you to the grave, you need to use some of it to enjoy life.
Very cool
Yup...:(...on the other hand, I bought an old AC CA for $200 to fix up. That wouldn't have been that much, but I decided to "make it better" by adding a 3 point and hydraulic mods...
Well said, sir!
Some things to consider: can you get 0% financing? If so, invest your cash in an s&p500 ETF and sell just enough shares to pay the monthly payment. You're likely to save 50% of the cost of the tractor in 5 years assuming a 10% annual return. Get something with good resale value (ex. Kubota vs Kioti). Do work yourself instead of paying others. Increase your property value and equity.
It can if the tractor can do the work to raise the value of your land. Eg clearing, maintaining. I know for certain that if I spent 40k on lets say a Kubota L series or a TYM 25+ hp. I know for certain that on my property, the work that I could do with that machine would raise my property value more than the depreciation of the tractor and the equipment to go with it. Edit: of course there are cheaper more efficient ways. But the point remains.
Amen brother I agree with you 👏👏👏
Brock, I feel like you are spying on me. I'm 62 years old, just spent most of my life savings to buy some land and a (used) tractor and I am so excited about the list of things I need to do.
Congratulations on the new machine. You’re going to wonder how you ever got by without it
I bet you’ve never seen a U-Haul behind a hearse.
How much meat do you eat in a day/ Thank you I'm going to eat like you starting today. Thank you so very much you inspired me!!! I'm 71 years old 260 pounds @ 5'10 and health is poor.
I published this video in the hopes that a few other people could experience the benefits I have. You can see a lot in the comments that already have.
I eat as much as I feel like. To say I don’t measure anything or count calories.
I’m guessing I probably eat 3 pounds of beef per day. Usually a pound per meal and I either eat two or three times.
Eliminating processed junk and not drinking calories is a huge start. Carbohydrates are not your friend.
Dr. Ken Berry is a great resource on UA-cam
The best boat is someone elses boat!
I bought a subcompact tractor almost 2 years ago. I didn't buy it because I could financially justify it. I bought it because I wanted it and I had projects on my land for it. I am in my mid 50s and can afford the tractor, so why not buy one? It is a great help around the property but I could do most things without it. They would just be harder and take longer.
So many comments..... when I was a kid my best friends dad had us bale hay with an old small JD square baler. If it broke down and we had to look for parts he would hire a guy named Goose to bale it for him. Goose baled for a lot of people. Cutting your own wood helps you maintain your property (if you own where you cut). If you buy a chainsaw and say a $3,000 splitter those things will pay for themselves in a fairly short time compared to buying LP. (especially if you don't have to drive to that property). Most people in our rural area do it because it gives them something to do; they don't live in the city and are not used to always going out for entertainment. I used to work with a guy that would spend $16k on a snowmobile, plus trailer, helmet, riding gear, etc. and go to Utah twice a winter for a week each to snowmobile (usually that was it). My dad had boats with all of the associated gear to walleye and salmon fish. We used to joke that the fish we caught was worth about $100 a pound for the money invested. Being cost effective for some people has some variables that are hard to quantify.
I appreciate your thoughts on it
We used to own a 6 acre pecan orchard. We were never able to justify buying a 25k compact tractor to work on the farm. Sure, a John Deere 2 or 3 series would have made life much easier, but financially, for a such a small farm it was never financially worth it. Maybe had we gotten the tractor on the first year of the 15 years we owned the property. A 54 inch Craftsman PGT9000 garden tractor and a 1950s Ford N series was enough. Not the best, but we probably spent 3 grand on the craftsman new and another 3 grand on the old Ford. About 1/5 of what a new tractor would have been…
The better financial decision for me would have been to buy an old open station tractor for a few thousand bucks to do some random stuff around my property....I decided to buy a new tractor with a cab so I could do whatever I wanted whenever I wanted in the A/C or heat.
I even sold my riding mower so I could mow my little bit of grass in the A/C!!! haha
IF I make a few bucks on the side (havent made anything yet) then cool...thats beer money. I will NEVER make enough money with my tractor and implements to cover the cost...and I DON'T CARE. I bought it for me to do whatever I want to do with it. lol
For me its more about helping friends out that can't afford a tractor and just messing around.....though hopefully someone contacts me about doing something via one of my online...not that I care about the money, I just want a fun new project to work on!!! hahaha
Hi Brock. You know i really enjoy your content.
That said, If I may make a positive suggestion not related to farming or equipment but on the filming of the quonset videos.
You seem to film with the entrance behind you. That bright light (backlit) makes it harder to see you. It ‘washes’ you out.
If you can shift the camera to an inside (solid) wall I think you’d create a much better video (photographically) IMHO
With respect and regards
Ken
Great video God bless
The truth is by the time that equipment is paid for in a small farm operation like you describe, it will be worn out and need to be replaced. Hobby Farming is not about making money, it's about a life style.
Cost is important, but it’s not the only factor. She got a ton of wood on your property come what are you gonna do pile it up and have a bonfire every year? Money is part of it but like you were saying whether or not you like it, there’s also the whole, being independent thing come off the power goes off or your propane company triples their price your more independent and like you said if you just like doing it, plus it’s not just about cost, if you’re heating your house with wood, you don’t have to set it at 68 in the winter and Try to save money while your family complains about how cold it is if you like it to be 75 or 80 then you’re cutting your own wood. It’s basically free at that point so just do it.
I think another thing people don’t always consider is the potential. The buy a little tractor to maintain my property. I can say well I’d have to pay dollars per year to pay somebody else to do it like you found out you start those gardens make a couple hundred bucks here there , maybe go dig a trench for somebody’s water pipe help out your neighbors, family, and of course there’s the entertainment factor and the potential. We had a tornado here and at the same time my back door fell apart, but because there’s a ton of repair being done around here, I can’t get anybody to come fix my back door. Sometimes just being able to do things yourself and having the equipment to do, it is worth a lot. If you’re splitting your own firewood, whether you need it or not, and your power goes out for a month in the middle of winter, that’s gonna be a huge advantage because you’re gonna be able to heat your house anyway and be comfortable. If you need to trench for an electric wire out to your garage, you don’t have to pay somebody else 1000 bucks to come do that you just grab your backhoe because you’ve already got it. That potential on that independence and being self reliable is a big deal as well. Money is important, but it’s not the only thing. There’s a bunch of equipment I don’t have and I will probably never buy, but if I won the lottery, I would have three or four tractors and I have skid steers and backhoes. I’d buy a bulldozer, even though I have absolutely no use for it, but really needs bulldozer. So if I won the lottery or something and had unlimited expenses, I would buy this stuff not because it was a good investment, but because it held other value as well.
And you’re dead right on the whole midlife crisis thing or just things that you want. A lot of 20-year-olds would have no problem paying $500 for a new PlayStation and another $2000 on games. To me that sounds insane, EC people that go out and buy like a brand new bronco or Jeep for 40 or $50,000 and then put $20,000 worth of crap on it to make four-wheel-drive they like and it’s cool but I think that’s crazy. Buy an old Toyota pick up truck or an old Jeep build it the way I want and it cost like 15 grand for a hard-core rock crawler that will walk circles around, but they like the electronics and, the looks or whatever so that works for them and you’re right, like the midlife crisis thing and some people wasting their money on a Corvette. For me that’s always been guitars and motorcycles but honestly at this point I’d rather have a compact tractor, I don’t even need it here but yard is mostly grass, but I’m probably gonna get more use out of a compact tractor than I would a new motorcycle out here I could never justify the cost based on need or profit, I still want one. There’s a lot of value in things that have nothing to do with money or profit or numbers that can be calculated. Like second amendment toys after you get your fourth or fifth or 12th do you really need anymore? No, but you still want more, it’s not gonna make you any money it’s gonna cost you money it’s not something you really need or that’s gonna give you any more ability than you had before but That doesn’t really matter because you’re getting something else out of it. Numbers matter if you’re in a business, if I’m running a machine shop and I go to buy a new CNC machine I have to think is it gonna pay for itself? Am I gonna make a profit? Am I gonna get enough Potential ability to make it worth the investment and then I have enough profit to make it worthwhile. But I want to see machine in my garage as well and I’ll never make enough money to pay it off, but I still want one because there’s other kinds of value other than just money and profit. lol. I don’t even need a tractor here but when I’m sitting around daydreaming, I’m thinking about the 25 acres sitting behind my house that does nothing. They just push hog get a couple times a year and it’s basically unused, but I’m thinking if I had that then I’d have a reason to get a compact tractor and a midsize tractor as wellbecause I want more than one.😂 I don’t need the tractors or the property, but I would love to have it, the reality is it would just be more work. I have to do and more responsibilities that I really don’t need, but even even though there’s no point to it I’d still like to do it. Not everything in life is about profit, some of our life is just going out and living it. And if you want to do that with a motorcycle or skateboard or taking your kids on vacation, have you priced a family vacation to Disneyland for a weekend, you’re talking about the price of a small car, probably buy a 25 for you to take your family to Disneyland for a weekend. Sometime breaking even or profiting isn’t what it’s about. And if you enjoy spending time at Disney World with your family and your card and earn the money then enjoy it if you want to Corvette then enjoy it if you want to motorcycle enjoy it if you wanna tractor or bulldozer then enjoy it. Honestly I think spending 30 bucks to go to a movie theater and watch some stupid movie that’s gonna be on cable in a month anyway is a waste of money, buying a Mercedes for a Rolls-Royce or Corvette seems like a waste of money to me, but if that’s what people wanna do it’s because there’s value in it other than the dollar signs And I hear you, most of yours probably have the same interests, I doubt you have anyone subscribed your page that doesn’t want a tractor whether they need it or not.
I don’t know it’s weird. I used to always spend forever trying to find the best deal and save every penny and maximize and get profit out of everything and I find the older I get the less it seems to matter because you find out when you get older. That time is worth more than money and I’ve only got so much time left on this earth so figure out what you wanna do and do it and if you got the money, it may be invest in something you’ll actually enjoy that will improve your life. Look at the last three years or 3 1/2 years with our government, they’ve literally stolen 40% of the value of your money, if you were just taken $20,000 and put it in the bank you’d have 20 or maybe $21,000 now but a few years ago you could get a compact tractor with a backhoe and a loader for 20 grand, now you’re talking more like 28+, so you saved some dollars but those dollars aren’t worth anything anymore, you bought a compact tractor for 20 grand right now it’s worth more like 25 or 28,000 and you got to enjoy yourself and have something that helps you out. Money is important, but there are different kinds of values
Regarding the firewood - truth. It’s Productive Recreation 😁. Saves a little money, keeps you in shape (saves more money on the gym), and gets you outside! As with most of what you discuss, it’s not a “business.” It’s a lifestyle/hobby. People do things for fun that don’t make any sense financially. Amen on stewardship too. I appreciate the video.
I bought a new tractor to avoid buying someone else's headache....you have no idea what someone has done with or to a used tractor before you buy it....they're gonna tell you its always been garage kept, never been abused, and its always been properly serviced....in reality most of that or all of it is totally false. Plus I got the full warranty for the machine...I know what the tractor has been subjected to, used for, and how its been maintained from hour 0....used machines really aren't that much cheaper than buying new, and then you are subjected to whatever the previous owner(s) did or didn't do to the tractor, and you may not have any warranty at all....the very little cost difference between new/used wasn't worth the headache to me if something went wrong with the tractor.
I don't use my tractor for jobs, I use it for my own use, it'll last me until after I'm no longer able to operate it. So, I'll stick with buying new VS buying someone else's problem.
I bought a tractor because I don't care to pay someone else's tractor payment, which is what you are doing when you rent a tractor or any piece of equipment, you are paying someone else's equipment payment...and the cost of renting a tractor, loader, and a tiller was so outrageous it made more sense for me to just buy the tractor and implements and I can use them whenever I want rather than relying on availability.
I burn wood for heat because its a hell of a lot cheaper than having the propane tank filled to run the furnace...its also a hell of a lot cheaper than electric heat running up the power bill, just as bad as running the AC all summer.
PS if you buy a tractor and it takes you 20 years to pay it off you have a much bigger problem than whether you should buy a new or used tractor LOL. Hell, just making the minimum payments on my tractor would only take me out 5 years on the loan.
Let's face facts, unless you farm and ranch for a living, no outside income coming in at all, which is rare, are about the only people can remotely come close to cost justifying the purchase of anything new.
One huge factor you did not cover in this video, and this can apply to joe hobby farmer or full timers, is some people just DO NOT want to buy used and someone else's problems or potential headache. Not saying one way is better than the other, but with some of the premium brand machines out there, you don't' really save that much money when buying used. With some of the lesser known or name brand machines and equipment, you probably can. Last part of this, is some who can pay cash for their equipment over a dealer finance, may also be inclined to lean new or used, depending on their own situation, zero % APR on a new vs 8.5apr for used equipment financing from your local bank will also play into it.
Great video for sure, keep em coming.
Just understanding the difference between "Need" and "Want". Seems like most people can't tell the difference, or at least refuse to acknowledge the difference. Nothing wrong with "I just want it", as long as you can afford it. My wife asks me "How many of them do you need?", I respond with "How many shoes do you need?". That usually ends that conversation. I'm hoping it's because she sees my side of it.
Zero carb here too
Definitely a long term investment but most good investments are long term
Putting aside the satisfaction of working on your own land, doing your own brake job, mowing your lawn, splitting your own firewood, and so on; other considerations for some people need to be taken into account to justify the purchase of a tractor. If you are a farmer, ie earn enough to complete the pertinent state and IRS forms, the tractor cost might be deducted as a capital expense. And if you use it for the occasional job for a fee then the tractor cost could be deducted on IRS Schedule C. If you are doing a thorough cost justification calculation then an often overlooked cost is 'opportunity cost'. For example, if you spent $25K on a tractor you chose not to take the opportunity to invest that $25K in the S&P 500 which historically would yield 12% compounded annually ($3K the first year).