Yes - the thought is you'd never recover your investment selling, however - using $20K as a total investment, you've not spent, say $40K on a new tractor. Your overhead is lower as well as your break even point it would seem to me. Doubtful the new tractor would last, much less retain its value either.
Repairs - I get it that when a tractor has to run, it has to run. Larger acreage, easier payback - I assume, so new makes sense. Heck - my JD5055d I bought new. I was glad to get it as the tractor was/is one of the last without emissions, onboard computer and all sorts of electronics. But a Hyundai cost more than that tractor!
It's just kind of cool IMHO that these late 60's thru the 70's of row crop tractors were built so stout that they lend themselves to repeated rebuilds and in someways are competition to new tractors.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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