View Full Version : Trade in value

11-24-2007, 02:26 PM
Hey guys, I'm really running it around in my head and I think I might want to trade in my 287B skid which I got in fall 2004. and possibly upgrade to the 297C model. question is what kind of value would i get out of it? just put new tracks on about 50hrs ago and it had about 1200hrs. i love this tractor to death but I could use the extra weight cap and also I am trying guess what a good trade in value would be. and also if anyone has a 297 is the online msrp true to what they're going for? or are they making some deals?

11-24-2007, 04:17 PM
What did you pay new?

I figure on (and my local Bobcat dealer does the same) every 100 hours on the meter you loose 1000 bucks in value, but new tracks bump the price back up to almost 90% of what they are new. Then it's just a matter of subtracting some $$$ for dents and dings and overall look of the machine.

I did that with my T190 and I got exactly what I wanted for resale value.

11-24-2007, 05:36 PM
Ouch, I have about 2100 hours on my Deere. Granted it is a skid steer but I know it's worth more than three or $4,000 thousand. I don't think that number is that accurate.

11-24-2007, 07:37 PM
Oh, forgot to mention, that equation might be just for the tracked loaders out there, seems that an average track loader can depreciate $10,000 a year off the dealer's yard up here.

11-24-2007, 07:44 PM
so off your theory my then $50k 287b minus 12k (1200hrs) should put me in around $40k trade in? I personally think that might be a little high? maybe more like 30, though i did just put on new tracks. and like i said it has a been a perfect gentleman in operation

11-24-2007, 07:47 PM
and going off cat's online msrp i'm looking a $75k w/ ac and cab. is that what everyone else is hearing? i tell you steel prices must of have gone up :-)

11-24-2007, 07:59 PM
$40K seems reasonable, more like $45 if all the service work can be shown on paper from the dealer, but you can always ask to get the amount you want and those CAT reps always bend themselves over backwards, especially a CAT to CAT deal.

11-24-2007, 09:09 PM
so off your theory my then $50k 287b minus 12k (1200hrs) should put me in around $40k trade in? I personally think that might be a little high? maybe more like 30, though i did just put on new tracks. and like i said it has a been a perfect gentleman in operation

75....no way....I got a new 297C and traded a 247B in on it.....I really like it except the idlers are already falling apart..(bad bonding to from rubber to steel) is what there telling me..already a recall out on it...

11-24-2007, 10:03 PM
well i sent in for a quote, you think the 297 is worth trading up for?

11-25-2007, 09:45 AM
well i sent in for a quote, you think the 297 is worth trading up for?

Try one out and decide....my 257B was a POS and CAT gave me a great deal on the 297C, no where near what some on this site have been quoted, I won't talk numbers...but I really like the 297...I liked the Deere 332 almost as well, if it had pilot controls...it was a beast in the dirt....my 297 is as strong, the cab is great, and I just bought the factory stero to install:laugh:..just waiting for direct t.v. to make a dish and drop down screen...then I;m set..:weightlifter:

11-26-2007, 07:55 PM
I found these results off of Iron Planet

06-287B 337 hours 24k

04-287B 1460 hours 18K

04-287B 997 hours 22K

05-287B 471 hours 27.5K fully loaded cab.

Condition varies but this gives you an idea.

11-26-2007, 08:23 PM
You have to remember that iron planet is an auction site, don't the pieces typically go for a few thousand more than their starting price? I've seen excavators worth $60K start at $35K on iron planet as well. Let's keep into consideration that iron planet starts the bidding at that price.

11-26-2007, 08:39 PM
No thats not the case. Typically the starting price is very low. Irregardless, it does not matter. What they sell for is what they sell for, regardless of what the starting price is. IP is proud of the fact that the iron brings XX percent above the starting price (I don't remember what the percentage is hundred and something as I recall but it is on the website). IP has set the market on a lot of used equipment especially CAT skid steers and mini excavators. The dealer here uses the auction prices to negotiate trade in prices locally. They have to if you think about it. If their trade value is out of line of what auction price is they will be sitting on it. Granted convenience and perhaps lack of shipping costs will raise a local trade over auction prices but it is not a lot. It is too easy to sit at your computer and buy equipment that is inspected and guaranteed to be as inspected. It has effected how everyone, dealers and customers buy and value equipment across the country.

11-26-2007, 10:21 PM
As far as auctions goes,there is several things to consider.We are talking cash sales not finance sales.Their are people that can take advantage of auctions because they have cash or can get cash to buy.

That why my banker always wanted the vaule of my machinery if i had to sell it over night,as in an auction,when we made out my yearly financal statement to borrow money.

The dealers can take the same machine and at least make 10k because of the ability to finance to customer with x number of years to pay for it.Dealers buy at auctions to resale and make money ,you see it all the time.

They go to auctions to see how things are selling,but if they see machine that they know they can make money on and know a customer that is looking for that machine, they buy to resale and it won't be for the price they bought it for.

It's the old saying money talks ,bullsh$$ walks.

Cash works wonders!!!!!!!!!:cool2::usflag:

11-27-2007, 12:19 AM
Here is the thing. Auction sales are not always about cash. Actually I think cash (meaning money not borrowed but from cash assets) plays a small role in larger money purchases at auctions. Certainly I would agree that cash is king but the guys that have the ability and desire to layout 50-100K cash and up of course are relatively few. Those that do have the ability to layout the cash realize that cash on hand is actually king. Money tied up in assets is not king, queen maybe but not king. Many purchases at auction are finianced prior to auction. I have a standing line of credit at Ritchie Bros. auctions as do many others I am sure. I have never finianced an IP purchase, because they have all been under 20K. However you can set yourself up with a line of credit for their auctions as well. The key is to run on someone elses money and keep yours in the bank, even if it costs (interest). I think it is funny that people continue to make purchases saying I will pay cash, trying to get a better deal. Who cares? If I show up to buy, say a skid steer, does the dealer or salesman care if I pay cash? No, now the paperwork will be less but will it change the dealers ability to make a deal? No it wont. If I gave him a personal check for 30K or a check from CitiCapital for 30K or I use CASE credit, it does not matter, nobody cares (except the finiance company). Actually the dealer may lose slightly if you pay cash, if you use CASE credit or Deere or CAT, the dealer gets a percentage of the interest rate charged to the customer (this is common with vehicle purchases as well). If the purchases made at auctions were pure cash deals there would not be many people at auctions.

11-27-2007, 08:35 AM
I probably should have used the words (the ability to come up with the money) then the word cash.

Cash can be in different forms to me.Cash as in green backs in your hand or the ability to come up with money to make a instant purchase.

I realize at auctions people don't go around handing out cash,but they do have the ability to produce money to pay the auction company,and their customers selling their machines.It's paid that day usually not next week ,next month or a year down the road.

So to speak as far as i'm concerned it is cash sale because of the fact they get their money at that given moment.Even if you are financing it some where else.

I agree you have to have a place to come up with the money,thats the cacth.

At one time i had a one time chance to buy a farm.I was going through the big (D) all my assest was tied up in court.I had just changed banks because of refinancing and combining notes,so the new bank didn't want to loan me the money for the down payment or the purchase of the farm.

Being between a rock and a hard place i went back to my old bank and asked if i could borrow for the farm.

Yes!!!!!!!! credit history is worth more then cash sometimes,but i still had to come up with the down payment.

I furnigered????? around my cash receipts,got the money for the down payment and the banker made the loan.

So was this actual cash,NO! but it was the abiltiy to come up with the money needed.It did come out of my cash receipt tho.

I do think cash does come to us more in the thoughts of green back.:dancing:

Cash !!!! :dancing:(green backs) does look pretty good when you take that check to the bank,and they say sorry it's no good:dizzy::usflag: