The Money Pit...

blunosr · Mar 9, 2012

Hi, I'm fixing up my old '66 Ford 5000 and it occurred to me that, although it might seem like an old tractor is a good deal, when you start fixing it up it's a slippery slope...

There are so many "little" things wrong, and every time I enter the NH dealership it costs me another $200 in little parts. I'm fixing 40 years worth of neglect, or poor maintenance. There's tie rod ends, wheel bearings, spindle bushings, seals, gaskets, hoses, missing bolts and dodads that have been taken off over the years, and just misplaced...

These are all wear items, and it is not surprising that they need replacing, but where do we draw the line? I like fixing things up, but every time I go to the dealer (or aftermarket on the internet) for parts I figure, "just one little thing" and that leads to another "little" thing... Hmm...

I suppose I'm lucky that most of the parts are still available for this 46 year old machine.

Do you guys do this too? Please tell me I'm not the only one...

My Money Pit:

Bye for now,

Troy

rrlund · Mar 9, 2012

Well...........guess if you'd kept it maintained all along,it wouldn't be in that shape now and wouldn't be costing you so much all at once.

Janicholson · Mar 9, 2012

Cheer up with that thinking. The tractor will be a
workhorse worth 20,000 to replace with an equal
tractor today. It might not sell for what you have
in it, but it isn't for sale it is for use! Jim

GordoSD · Mar 9, 2012

At least you don't have to buy $1800 worth of tires.

Aaron Ford · Mar 9, 2012

I bought a MF65 in 05 and finished it in 07. The PO had mistreated, overheated, farmerized, and apparently beat it with a length of iron pipe. All fixable. It did cost me between $5-7K. The tractor in fresh paint, fresh engine, steering, hydraulics, etc is worth about $5500. That was one of many offers. Some higher, some lower. Am I upside down? Sure. I do not intend to sell so the total value is a moot point. I intend to own it for the rest of my life. It now costs me nothing above general maintenance. Keep the end in sight. It's yours. No one can tell you what it is worth.

Aaron

blunosr · Mar 9, 2012

Just to clarify, I bought this tractor about a year ago. It has an Allied 660 loader that I removed and made new mounts for. It'll be going back on in a couple of weeks. And, yes this is going to be a user. I plan to keep it for a good long time. I like old things, you should see my woodshop...

Gordo, I do actually need two new rears. These ones are cracked to bits, but I'm going to keep wearing them till they leak. The fronts are new, I replaced them last summer.

Bye for now, I'm off to the Ford forum to ask how to remove the spindle bushings...

Troy

37chief · Mar 9, 2012

I am into the same thing myself. My latest money pit is my Dad's 63 Ford F100.After sitting for some 20 years. I thought I could just put in a 75.00 battery, and go. Next the brakes have frozen cylinders, and rotten hoses, around 125.00 then the water pumt for 100.00 reg, another 100.00. Don't forget insurance another 100.00. Tires 400.00. That is to just get it on the road. More little things to come. But it is nice to see Dad's truck running again. Stan

to_many_irons · Mar 9, 2012

its not hard to get lots of money in stuff .
chances are you will not find any better than you got .
little bits a time .
ps get a crawler then talk about money , starting to wonder if it was a great deal ?

rick2 in ohio · Mar 9, 2012

i think he bought it in that condition!

ASEguy · Mar 9, 2012

I've heard crawlers can be very pricey.

flyingace · Mar 9, 2012

(quoted from post at 17:07:31 03/09/12) Hi, I'm fixing up my old '66 Ford 5000 and it occurred to me that, although it might seem like an old tractor is a good deal, when you start fixing it up it's a slippery slope...

There are so many "little" things wrong, and every time I enter the NH dealership it costs me another $200 in little parts. I'm fixing 40 years worth of neglect, or poor maintenance. There's tie rod ends, wheel bearings, spindle bushings, seals, gaskets, hoses, missing bolts and dodads that have been taken off over the years, and just misplaced...

These are all wear items, and it is not surprising that they need replacing, but where do we draw the line? I like fixing things up, but every time I go to the dealer (or aftermarket on the internet) for parts I figure, "just one little thing" and that leads to another "little" thing... Hmm...

I suppose I'm lucky that most of the parts are still available for this 46 year old machine.

Do you guys do this too? Please tell me I'm not the only one...

My Money Pit:

Bye for now,

Troy

My '66 3000 is similar. It leaks, hydraulics are marginal, needs PS overhaul, electrical, etc, etc. I could put thousands into this thing.

Since this is a functional tractor, not a restoration project, I take a 'good enough' approach to the functionality. If it works good enough, I leave it alone (as long as it isn't doing long term damage that is). It helps that it is a low usage 'chore' tractor. But if I had needed a real workhorse I would have gotten something new or newer.

Joe W. · Mar 9, 2012

No, you're not alone. I buy used running gears and refurbish them (I've learned not to use the word "restore" on this post) to build my parade wagons. Over the past 5 years I have bought 8 used running gears and have found that the gears haven't gotten much, if any, maintenance. I've had to replace bearings and races, grease seals, one guy sold me a gear with a broken rear spindle which he may not have known about because I only found it after I removed the wheel and could rattle the spindle by shaking it with my hand, another had stripped threads in one of the hubs, a welded hub, broken king bolt in one which wasn't apparent until I got messing around with the tongue, and the usual little things like broken standards and even a bolster that was welded instead of bolted to the frame. I have become accustomed to knowing that when someone wants to sell a running gear, it has problems. But I've got to buy them and so I know the asking price is just the beginning of the cost of refurbishing them.

ASEguy · Mar 9, 2012

Troy, I don't think it's a money pit. Lots of hobbies cost a great deal of money. I enjoy my quiet tractor time. I don't even think about the cost. It's therapy.

johndeereman · Mar 9, 2012

i prefer the old tractors. yes they seem to nickle and dime you to death but at least you can spend as you have it and not worry about a repo plus in the end you will have a tractor that is basicly new at a significantly less than new price by todays standards. besides its lasted 40 plus years so make it new again and it should make another 40 easy not like todays throw aways.

old harv · Mar 9, 2012

It looks like you are fixing it up to almost new condition. If you price a new similar sized tractor your fixings will look really cheap. Then take into consideration that new ones have pollution control junk and endless, unfixable electronics on them, and your old tractor suddenly looks better and better. Your old rebuilt one will likely outlast the new one. A friend who is a farm equipment mechanic tells me he spends more time on a computer than pulling wrenches these days. Whenever your old tractor wears out or breaks, you can just rebuild it and go again. I have a JD 2130 that I would love to give the same treatment that you are giving your Ford, but it is too busy working.

Jeff NWOH · Mar 9, 2012

I think they are all like that if you fix them right. I never tallied up the reciepts on this one, but I'm sure they equal more than its worth.

PeteTheRookie · Mar 9, 2012

Ace,
I am in the same category with my '66 4500TLB.
Fixed the easy and absolutely necessary leaks.

Changed hose that popped or were obviously going to pop. Changed oil, fuel filters. Use lots of Power Serve in diesel.

Right now everything "works", hydro leaks are under "control".

I made a 2ft by 4 ft drip pan that hangs under the tranny and the engine that is 1/2" deep and filled with speedy dry to catch the engine oil, tranny fluid that drips. Beats splitting the tractor which I cannot do as I do not even have a level stable surface to work on. Gravel driveway and no garage. Attached 1/4" hose and catch can that captures hydro fluid that squirts out of right swing cylinder of hoe ever time you swing hoe to the right. I fill ep a half gallon plastic juice bottle in about a hour if use the hoe. Switch bottle and let the bottle sit for a couple of weeks and the fluid looks like new with black sediment in bottom of jug. Then I run it thru one of these micro mesh coffee filter and put it back in tractor. Just leave last 1/2" in jug and the fluid I put back is golden and looks new.
Just hoping I managed to scrap together the $$$ for a garage before something big breaks I can not repair in a day on the back lawn.

Pete

DeltaRed · Mar 9, 2012

If you think you're spending a lot of money now,Go
buy a new one.You're gonna wish that you had your
good old 5000 back!Even in its present state,that
bulletproof 5000 will still probably outlast a new
'plastic',EPA approved,computerized.POS that you
cant work on!

Mike M · Mar 9, 2012

Your not alone! You have to make up your mind that you
want it right costs be darned.

If you don't get more in them then what it's worth your likely
not repairing them properly.

Geo-TH,In · Mar 9, 2012

I agree, the old tractors are a money pits. I have twice the money in my tractors than I can sell them for. That said, I have little choice but to use the oldies. I will get a headache within seconds if I get near any diesel powered tractor or truck. That really doesn't leave me a big choice but to use the oldies. Besides, I can fix the oldies and they are tractors I used as a kid growning up on a farm making them PRICELESS!

Vito · Mar 9, 2012

Well you can go gambling and give it away to a stranger or go to
the bar and pee it away.I enjoy my tractor seat time and repairing.At
least I can get some of my money back.

Vito

Don-Wi · Mar 9, 2012

I sunk $10000 into my 1600, and it was Grandpa's tractor that never left the farm so there was no purchase price in there. New rubber everything, had it completely tore down minus the transmission.

To remove your spindle bushings (you're talking brass bushings in the tubes right?) just cut them with a chisel or die grinder and they'll peel right out. Some tractors have room to push the old ones in farther and install the new ones without actually removing the old ones.

Donovan from Wisconsin

Anonymous-0 · Mar 9, 2012

Were you really expecting it to be an investment? The only way to come out I figure is to plan on keeping it the rest of your life and get your investment back in little bits.
-a good runner that is still capable of a day's work.
-Something to take pride in, and perhaps show it off.
-Something that doesn't eat when its not working and didn't come with a payment schedule like the new ones do.

Since you were asking "where to draw the line", I guess you could leave off straightening and painting the grille and the cowl. But I don't see why you would at this point.

DeltaRed · Mar 9, 2012

I bought this 1256 12 years ago,pd $6000(delivered)I now have over $16,ooo in it.New/rebuilt engine,new TA,new clutch,new injection pump,New hydralics(valves/pumps,etc.),new tires......But thats OK,Still cheaper than a new one.At least I know what I have.I'll keep this tractor till I'm done farming.I baisicly have a'new' tractor!

DeltaRed · Mar 9, 2012

Here is the pic...

ShadetreeRet · Mar 9, 2012

I think you hit the nail on the head when you said "40 years of neglect or poor maintenance". If you buy a used tractor you can expect that. If you have owned it for some years yourself, well, we all tend to put off preventive maintenance until we get that elusive "round tuit". About eight years ago I bought a TO-30. The man told me that "the brakes were not too good". He was damwell right. Then shortly after I bought it the hydraulic system started acting up. The thing hasn't been started in about three years now, since my wife passed away, so you can imagine what I am looking at. I know it has water in the gearbox, needs a tuneup, carb overhaul and heaven only knows what else. It is not an exclusive club by any means.

ericlb · Mar 10, 2012

i do it too, ive got more in my tractors than they will bring on the open market with the economy today, but, thats not why i have them i have them because i need them, and if you look at all the money you have invested, in your old tractor, go down to look at a new one with the same hp, and features, you'll still find your way, way ahead of the game, you may not have gps on yours incase your grandpa never taught you how to make a straight row, and you may not have 4 cupholders in case you never learned to drape a canteen over the headlite, but your tractor wont have all those cheap china electrical parts in it that will go bad in 2 years either

Dean Olson · Mar 10, 2012

I do. I reconditioned a 53 Farmall Super H to pull a hayride wagon 4-5 times per year.

I have a lot more in my antique tractors that what they would sell for but far less that comparable new machines. I can work on my old ones and don't feel
comfortable working on the new ones with all the computer and electronics.

I can rationalize and justify a separate tractor for each purpose. Saves me from having to change implements or reconfigure tractor. I have 2 Farmall super
C's with different mounted implements. A Farmall 300 set up as a shredder tractor etc.

The Money Pit...

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