Cautionary tale regarding old tractors.

rockyridgefarm

Well-known Member
Hey all,

This is a long, embarrassing tale of life with my 4010. I only post it to give others a word of caution to learn from my bad experience. Don't feel bad if you don't listen to the warning - I sure didn't when I started out either...

Just got off the phone with the local shop that's working on my 4010. This tractor was bought 3 years ago from Sumner Implement in Sumner Iowa. It was billed as a nice older tractor that had everything working, but sold as-is. I even talked to the previous owner and he talked it up (wonder if he wasn't a shill). Said he only traded it to get a cab tractor ("driven only to church on Sundays by a little old lady"). He told me he had the engine rebuilt 1500 hours ago, but no paperwork to back it up.

They told me I needed to pay with direct funds transfer before I got there because they got too many bad checks. If I didn't like the tractor, they'd give it back. This is a John Deere Dealership, not some Mom n' Pop store with 6 tractors and 15 implements.

Had I known what I was doing, I would have left it where I found it.

Right out the gate, the load sensing shaft failed before it left the trailer at home. Apparently, they can fail due to being chained down and hauled. NBD, I put a new shaft, seals, and pin in the front.

The next day, I went to start it cold (60 degree outside temp) and it wouldn't start to save its life. Finally a snort of ether got it going (they had it warmed up when I went to look at it). The engine sounded smooth, but there suddenly was a lot of blow-by (musta been there when I bought it, but I was too excited about the "new buy" to notice)

Then, I hooked it to my 6 row cultivator. It wouldn't pick it up unless I was turning 1500 rpms or better. It also wouldn't hold rpms, I had to weight the lever or hold it constantly. I then hooked it to the spreader and found no. 1 remote did not work at all. I got the minimum I needed to get done with it and took it to the shop. They told me someone had been in the 3 point and did some booger welding and wrecked quite a bit of stuff and it'd take 3500 to go through the hydraulics. they also told me the adjustment on the throttle was too far gone and couldn't be tightened up anymore. I called Sumner Implement - they said, "Sorry Charlie - as-is is as-is". I told the shop to fix the 3 point only just so I could get my cultivating done = $1700.

I lived with it for another 2 years (maybe 100 hours of use MAX) with only one remote and a poor sounding engine. Then, the power steering started to fail a couple minutes after warm up. I lived with it for a couple months and then took it to the shop. You guessed it, brakes disintegrated. They said they had been apart for a long time - never seen one so bad. In fact, no1 remote didn't work because the brake material had plugged up the valve under the dash. A month of work and $3500 more, and I get the tractor back with both remotes disconnected because I needed it back for cultivating. This was last spring.

Along the way, I've put rims on it, a radiator in it, and a few other "smaller" things

Back to the phone call. The engine could be pricey. I found a 404 out of a 4430 for $2800. It was listed on craigslist, but in the small world in which we live, it turned out it was a customers engine sitting at their shop. they said it was a good engine and I could hear it run in the 4430. They'll put it in for the old engine, if all goes well. It's gonna be up to $2000 to finish up the hydraulics. I've decided to take the schwartz off and stick a 4430 wide front on, and my wife has decided I need a ROPS (with canopy) - $2550

So, I have $19,450 in a 4010 that I'd be lucky to get $8000 out of. My only hope is that I can now get 20 good years with only maintenance costs.

Moral of the story - If you're gonna buy an older tractor, know what you're doing and don't trust the dealer, even if it is a Deere dealership.

2nd moral of the story - Old stuff is expensive, too.
 
Most people end up with more money in an old
tractor or car, or truck, or Airplane than it's
worth. That's why it tends to be a hobby, when
folks try to make it a business it really changes
the dynamics. Old tractors also have the dynamic
that some want to use them to make money and get
work done. Your 4010 might of been a good hobby
tractor for someone who likes doing their own
mechanical work, and yes they'd still Have more in
it than it was worth. Their used to be a business
model were being a mechanic contributed much to
the business's bottom line but then equipment got
more complex and also more trouble free. Another
way to look at it, $28,000 is not a lot of money
to have in a tractor that has the capabilities of
a 4010 John Deere, just to much for a 4010 John
Deere, dad always bought cheap stuff and fixed it
himself, we often had as much in it or more than
we could of bought a good one but we knew what we
had, what had been done and how well it had been
done so that tractor or rake or baler was worth
more to us than one at auction or on a dealer's
lot.
 
Yes it is hard to find really good used equipment.
I would sure hate to of had to pay someone to do all the repairs I have done myself over the years.
 
That's why I always look over the entire tractor with a fine tooth comb before I buy anything. Like you said, you just can't trust people these days.
 
If your farming with it that's all a deductable expense.A friend on mine paid over 9000 for an overhaul on a 4440.
 
Your post is most puzzling. First weren't you aware that working on a used tractor you can spend as much as on a new one. John Deere doesn't have one parts price for used tractors and another one for new tractors. Then you mentioned the year model much like it was a antique situation which I hear a lot of antique restoration folks say they are just considering what the tractor will be worth they want to do a restoration but then you mention economics. Having said that why didn't you shop till you found the best tractor for the best price and not take an as is sale as a guarantee or warranty which it appears you expected. I've never heard of a conditional sale such as that on 25-30 year old machinery. It is a buyer beware from the get go. Anyway I wish you luck but I would use a different approach and expectation in the future that way you want be dissapointed.
 
I once spent alot of money fixing a JD 1949 B model for a golf corse. They mowed the rough with it. He said he could write off 100% of repairs but could not write off new equipment at that time anyhow ?
 
He have ment he had to depreciate new equipment over a number of years, but he could expense repairs.
 
Seen that kind of thing happen MANY times when the buyer has
to have that 4020 JD even though next to it was an Oliver,
Massey, Allis, IH, Case that was newer, had less hours, more HP
and cost WAY LESS. That 4010 was almost 50 years old when
you bought it. Around here a dealer will let you use one for a
day and pay for it if you keep it or pay rent for use. Sales
contract should have spelled out "fit for service" or some such.
Buying as is where is means just that and I usually walk away.
 
You can expense used or new equipment in the year of purchase using Section 179, rather than depreciate it over multiple years. If it is new equipment you have the advantage of bonus depreciation.
 
I can"t imagine it being worth 8 grand now. And expecting 20 years more service with just maintenance costs? You still have the transmission and rear end to worry about- likely near shot like the rest of the tractor. Why waste money on a heavier wide front or a ROPS when you basically have an overpriced POS? I would have cut my losses a long time and many $$$$ ago.
 
Thanks for sharing your experience farmerboy. Like many here said, If you do it for a living, then it may be pricey, unless you do a lot yourself. But fixing/rebuilding older stuff also gives you the knowledge that it is working, as wisbaker stated. When I bought the 5010D OS this last summer, I took a chance at 5K, transport about 430. Have a little over an additional 5 in it, so about 11k total. Is it worth it? To me it is, not a FT farmer or rancher, like to collect New Generations and I still can use it around the small farm we own in replanting grass/renovation and cutting/bailing hay operation. Bit unusual to use a 5010 along side a 4020LP and 4320D?? Sure it is! It also pulls the flatbed trailer with fellow LOINS CLUB members at local parades. And with the big wide singles (24.5x32), it pulls my big city neighbors' pick-up out of the muddy field when they are here and hunting and get stuck for the umptiest time.... It always turns heads and starts conversations! All that, priceless to me.
 
First off the direct funds transfer would have
turned me off.Secondly even in AS IS situations
you bought something you thought was
misrepresented by a dealer that knew better and
you have certain rights.By using it the way it was
is saying you were satisfied.One bad deal is is
like 100 for a dealership and I am sure naming
names is the last thing they would want.The moral
of this story even though we only know your side
is you dont have to pay for problems as they show
up with no charge.Also when it is not repaired
where you got it it easy for them to place blame
on you and you have no recourse.
 
A friend of mine who has owned several older tractors told me to figure on spending the purchase price again on repairs. This is if you are careful.
You do now know what you have at that is worth a lot. If all of the sheet metal is there and it is in decent condition collectors may be paying $18k for 4010's in five years. With exception of the 20 and 30 series the two cylinder collector market has taken a nosedive.
 
don't feel so bad I bought a 4010d and had allot of problems the first couple of years. I only Had it one day and the starter went out , 3 months and trans went out $5000 and a year and a half I got it back ( never let a friend that's a tractor mechanic say he will help u out and replace the trans for u I ended up finishing a job I didn't start) since then lots of little problems but not too bad I know now allot more things to look at before I buy now won't make that mistake again
 
old tractors really aren't any different than old cars in that you just have to like working on them to justify or enjoy them.

-Paul
 

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