GW, tractors don't depreciate much, if any. My first one was a Ford 8N that was made in about 1950. It's still ticking. I paid about $2K and still have it. Several neighbors have borrowed it when their tractors had problems. It's as handy as the pocket on a shirt.
About 6 or 7 years ago, I bought a new 4 WD JD with about 40 HP and a front end loader. I found that all new tractors are now rated at motor instead of PTO. It's been a dream and will outlive me. It cost about $25K, is fairly low mileage and is worth about what I paid for it. Power steering is great and the old Ford doesn't have it. I've used it, with a box blade, to clean out a couple of old silted in stock tanks.
If you get something with a front end loader make sure it is 4wd. Actually, I can't imagine not having a loader. I use it for everything.
If I had it to do over again I would probably, like ML says, look for a good used one. Big tractors, at farm auctions, are less popular than smaller utility ones in my area. Common sense evaluation methods just might mean getting a good tractor guy to help you shop.
BTW, 4 wheelers depreciate about 40% when they leave the sales floor.
DD1, I'm not trying to pick on you, but I wonder how accurate your last statement is. I've been doing a lot of tractor shopping lately and I don't think I've found any low hour 4WD tractors priced anywhere near 60% of their new value. I consider your opinion to be important so I just thought I'd double check this.
