massey333 you are right about a lot of Dealers getting burned on Company repos. John Deere Finance notes are not full recourse to the dealer like International, Case, and White where. With JD 1% of every note goes into a recourse fund for each dealer. When this fund get to certain size then the dealer will get his full loan amount but until then he will only get 99% of the amount. So when repo happens the costs are subtracted from the recourse fund of the selling dealer. When lot of repos happen like in the early 1980s the loss to the JD dealers was limited to what they had in their recousre fund. This difference was a big reason many JD dealers where able to stay in business when other brands had to shut their doors.
I have a friend that was a White dealer. Two repoed combines, that he had to pay the 18-20% interest on, forced him out of business. The cash flow just was not there. A real large Case dealer I traded with lost his personal farms when a bunch of Repos happened to him.
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Today's Featured Article - Old Time Threshing - by Anthony West. A lovely harvest evening late September 1947, I was a school boy, like all school boys I loved harvest time. The golden corn ripens well and early, the stoking, stacking,.... the drawing in with the tractors and trailers and a few buck rakes thrown in, and possibly a heavy horse. It would be a great day for the collies and the terrier dogs, rats and mice would be at the bottom of the stacks so the dogs, would have a busy time hunting and killing, all the corn was gathered and ricked in what we c
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