You've decided one of the things you can invest in this year is trading up to a newer tractor with improved technology and perhaps more power. You have a tractor that's under 10 years old, in excellent shape, with about half the hours of most tractors its age. However, you need more power to pull a vertical tillage tool correctly, and you would like to benefit from the latest advancements in technology.
So you're going to make a change. You've located a nearly new tractor with low hours. The only thing is the manufacturer has brought out a new series since this tractor was introduced. The main improvements are in technology.
The interesting point is that you've already discovered you can sell your current tractor for about 10% more than it listed for, let alone what you paid for it, nearly a decade ago. That's a significant point and talks about the value of good, used machinery. A recent trip to Ted Everett Machinery Auction near Monrovia for his bi-monthly used equipment auction held in early October indicated that prices for good, quality farm machinery were strong.
So if you can buy a good, used tractor a couple years old vs. a brand new one, after you sell yours, is it worth $20,000, $40,000, $60,000 or some other value to go ahead to the new tractor? You will have to make that decision.
Upgrades are available even for a two-year old tractor that will make it current and close to newer models in terms of technological advances. The upgrade will come with a cost, but should be much less that the value of trading on up to a brand new tractor.
One other consideration is warranty. Do you still have warranty if you buy the late-model, used tractor? Or do you prefer and value the warranty offered with a new tractor? You may also have the option of buying a warranty for the late-model used tractor.