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Paradise KS | Im trying to be as true as possible on the cost of ownership on a tractor. I finally got my 7110 magnum payed off and this year and it ate me alive on repair bills, had lots of downtime and didn't get a few things done in a timely manner. After making it through wheat planting and harvest its needing more hydralic work done. Im thinking of just getting rid of it. But looking at the value of used tractors its just ridiculous what they are worth. I just got through with a high hour tractor and it ate me up the past couple years in repairs. I don't have cash to buy tractors with, so no matter what i buy im going to have to finance, I would like to get out far enough that i can get one payed off before repairs start to pile up but the payments would be quite high.
I ran a cost of ownership on my 7110 since i bought it in november 2010. What do these numbers look like to you guys?
Purchased 7110 32500
Interest 2723
Repairs 14548
Tires 500
Oil/filters 3000
53271
Depreciation 6000
Total Cost 59271
Hours in service 1600
$/Hour 37.04
Yearly cost 11854.2
Ok corrected costs if I understand correctly,
Purchased 32500
Interest 2723
Repairs 14548
Oil/filters 3000
total = 53271
subtract 25000 for current value
that = 28271 for total cost of ownership if i were to sell it and get 25000
Hours in service 1600 hours
$/Hour = 17.665
Ok that makes me feel a little better
After all the searching i have done on used and not finding much, i have been asking around about leasing. I haven't gotten any numbers back yet so not sure what to compare too, but could I lease a 150hp tractor with front wheel assist similar to my 7110 for these numbers? 38 dollars an hour?
Edited by SpringBrookFarm 1/13/2016 08:05
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True ownership cost of tractor
