I'm not saying to get a loan for the $250,000 machine and buy a $25,000 machine. What I'm saying is that if the people in charge knew their head from a hole in the ground when it came to many of the items they were asked to loan on they would have to change their whole way of thinking. Look at it this way, what would you rather have on your books in the way of a defaulted loan, a portion of $25,000 or an even larger portion of $250,000. Granted equipment tends to hold it's value, but just like a new car, a $250,000 machine is going to lose alarge porton of it's value within the first year while a $25,000 machine is going to retain it's value. How do you think guys buy a machine to clear their land and then resell it for exactly what they bought it for? heck if a major repair like an engine or transmission rebuild was done you can often get at least a portion of that cost back, over and above the origional purchase price, if you find the right buyer.
What it comes down to is like I said, anybody with a grain of sense about equipment knows a deal when they see it, they don't have to look at a book to know what they are looking at. On the other hand the people in charge of giving the loan, to help those guys get the deal, only know how to read a book, and as such do not have a clue, and are nothing but what my Great Grandma used to call an 'educated idiot'...........
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Today's Featured Article - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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