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John Deere Dealers’ Deals on Used 4WD Tractors
One of the best buys in horsepower today can be found in late-model four-wheel-drive (4WD) tractors such as the tractor shown. This is a 2014 model 9360R (the baby in Deere’s 4WD line). It sold at a Ritchie Brothers auction for just $165,000.
So what did the buyer of that tractor get for his money?
For starters, this 9360R had just 673 hours on its tach. In other words, it was barely broken in.
Plus, it was equipped to be an ideal larger planter and grain cart tractor with a high-flow hydraulic pump, five hydraulic outlets, a PTO, heavy-duty drawbar, HID lighting, and 480/80R50 duals.
However, it was the cost per horsepower that make this and other 4WDs such a bargain. The 9360R sold at $458 per hp. Next to this tractor, there was a 2013 Deere 8335R front-wheel drive with 567 hours that sold for $225,500. Its cost per horsepower was $673. That pencils out to $215 per horsepower more than the model 9360R.
In fact, the next three tractors that sold that day – all 2013 model 8335Rs – all went for more money than the 9360R.
Historically, 4WD values suffer the most during down economic times in agriculture. This class of tractor often logs fewer hours than its front-wheel-drive counterparts. As such, they offer a longer work life before needing replacement.
What is putting particular downward pressure on 4WD values right now is the fact that sales of new machines were extraordinarily high between 2011 and 2014. That, in turn, loaded the used market with a large inventory of the tractors, which pushed down their values.
Thus, late-model machines are now competitively priced. “There are some outstanding opportunities that exist this winter on our dealers’ lots on such tractors,” says Brad Tolbert of John Deere. “A lot of low-hour high-horsepower tractors are available, and dealers are looking to move them out.”
The downward price pressure is also being felt on all 4WD models that were put on the market in the last decade. However, after that 10-year period, the 4WD cost per horsepower relative to age has actually risen due to the fact that the prices on these tractors make them attractive to farmers needing big power on a restricted budget.
Steel Deals: John Deere 9360R
future shortage of late-model combines?
The Pocket Price Guide provides a snapshot of John Deere dealer asking prices on the 4WD models in the 500- to 525-hp. range (the most popular horsepower range sought by farmers). These lists were derived from John Deere’s dealer website, Machinefinder.com. The listing in this guide is restricted to just the lowest-hour tractors available by model and to the first year each model was originally sold.
Tolbert says, in addition to prices of 4WDs being competitive, Deere dealers are also incentivizing purchases with a wide array of enticements such as low- or no-interest loans and certified preowner plans (with extended warranty coverage). “Certainly, most of the late-model 4WDs also qualify for a lease financing,” he says.
That is helping to move 4WD supplies off dealers’ lots, causing Tolbert to warn that “inventories of late-model machines have been significantly reduced from a year ago.”
recent auction bids on Case IH quadtracs
One of the premium 4WD tractors on the market today is the original tracked four-wheel-drive tractor, the Steiger Quadtrac. That line’s popularity soared during the early part of this decade.
Like all high-horsepower tractors, inventories of late-model Quadtracs filled dealer and auctioneer lots. This, in turn, depressed their values.
“They are one of the value-priced machines on the market right now,” points out Brad Weinhauf of Case IH.
Following are recent average auction bids.
- 2012: $152,200
- 2013: $181,000
- 2014: $231,000
- 2015: $265,000
- 2011: $179,420
- 2012: $192,160
- 2013: $232,900
- 2014: $245,100
- 2015: $285,500
- 2011: $175,400
- 2012: $187,500
- 2013: $213,125
- 2014: $235,500
- 2014: $216,500
- 2015: $304,200
- 2011: $230,100
- 2012: $222,960
- 2013: $239,500
- 2014: $293,600
- 2014: $307,400
- 2015: $324,600