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Antique tractor loans

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mac

04-22-2000 08:29:48




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Anybody ever tried to get a personal loan from their bank to purchase an antique tractor? Would it be possible to use tractors you currently own as colateral? I found a big gas tractor I would really like to have, I just can't swing it right now. Just seeing if anyone has any suggestions.




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Chances R

04-23-2000 07:47:42




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 Re: antique tractor loans in reply to mac, 04-22-2000 08:29:48  

I did this very thing once and I believe it was called a Personal Loan.



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stew

04-23-2000 06:30:18




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 Re: antique tractor loans in reply to mac, 04-22-2000 08:29:48  
As long as you have reasonable credit and the ability to re-pay,,, banks will lend you money for anything ,,,, They advertise all the time loans for boats , vacations etc



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Chad Wink

04-23-2000 01:48:53




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 Re: antique tractor loans in reply to mac, 04-22-2000 08:29:48  
When I farmed, from time to time I would borrow from the bank to buy an old tractor, but that was also back when you could buy a nice 730 diesel for 2,000.00 I had no problems getting the $ from my bank.



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Haybaler

04-23-2000 14:11:49




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 Re: Re: antique tractor loans in reply to Chad Wink, 04-23-2000 01:48:53  
Ah the good old days when 730's cost $2000. Wish I could have bought every one I could have found back then. HB



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David*

04-24-2000 06:04:46




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 Re: Re: Re: antique tractor loans in reply to Haybaler, 04-23-2000 14:11:49  

Yeah, Haybaler at a $1.00 to a $1,25 an hour
I am sure you would buy ONE 730 maybe. I was there know what wages were. Went North to the steel mills in 64, made big money, $24.00 per day. I would have bought all the 330 U & S that I could have, I bought a 330 U a few weeks ago, got a reciept from the man who bought it in 1964 for $1100 plus plow and disk. OH how I wish, David*



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Haybaler

04-24-2000 10:04:30




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 Re: Re: Re: Re: antique tractor loans in reply to David*, 04-24-2000 06:04:46  
Yeah the wages have gone up. Used to play music and make $200 a week in late 70's early 80's and thought that was good money. Back around 15 years age you could buy a 60 in pretty good shape for $500 or less and a 730 was less than $1500. Some people would give you a parts tractor to get it out of the way. Can't get them for that now. Not sure how the inflation shapes up but it sure sounded like a good idea. HB

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Joel

04-22-2000 11:52:28




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 Re: antique tractor loans in reply to mac, 04-22-2000 08:29:48  
I think anyone with good credit would be able to get a loan -secured or unsecured for the tractor, it's just a matter if your willing to pay the interest rate! GOOD LUCK



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