Im looking at a 2015 JD60G, about 1500hrs. Dealer asking $70k, i think its a lot for a machine that old and was wondering if anyone knew what they went for new back in 2015? TIA for any input.
I'm feeling like a more appropriate question (unfortunately) would be.....what would a new one cost today? Although, I can understand your frustration with the high cost of used equipment.
New is $94k plus tax in my area.
I paid $62k for mine in 2015, new
What I was looking for. Thank you.
Wacky times. That's about a 34% increase in seven years on the new machines and a 9% appreciate in value on the used machine. Somehow that doesn't work. Six years of depreciation should have that used machine down to 50% of new. Say $31,000 not figuring for worked hours or condition.
JMHO I would pay $24K more + tax for 7 years, 1500 hours and new with warranty machine if the only option was the used 2016 machine for $70K. If you are not paying cash there may also be a savings on % rates between financing new and used equipment. Often times the manufacturer buys down the rate and adds it back to the retail price.
I just purchased a new 305 and the rate was surprisingly high; diamond plus (supposedly highest tier) with Cat Financial was 8.5%; The rate varies by machine. According the my Cat Finance rep, larger iron same credit level is in the 5's as of a week or two ago. So they have to be buying down to offer that rate. And the rate was rising end of week I bought. At the very least this will arrest the rise of new equipment prices. You can't have crazy high appreciation in price and substantial increase in finance cost at the same time. Gold or Gold plus was 10.9 fwiw. Both rates are with 15% down for 60 months. If you have questionable credit forget about it. No telling what that rate is.
Im going to sit this one out for that 2015 60g for $70k plus tax w/1200 hrs. Going to take a chance and see if the market will correct itself. I was just looking for one to own instead of renting when needed from time to time, and to add another tool to my tool box so to speak.Rollin the dice, I think the economy in my area will be crap next year as I do mainly new residential excavation. The housing market here is already tanking and more guys will be bidding on less work. Time will tell. I love looking though, Got that yellow equip fever!
Finance rates depend on who you are as much as anything else. Big companies don't pay the same interest as little guys.