The Case IH Dealer Gave Him 72 Hours to Decide — What He Did Next Closed Two Dealerships

On September 4th, 2006, a 49-year-old farmer named Martin Hesser, stood in the parts department at Crest View implement, the KIH dealer in Broken Bow, Nebraska, waiting for a fuel filter that his 1998 KIH 2388 combine needed before he could finish the last 340 acres of his wheat harvest.

The combine had 2,680 separator hours on it. The engine ran clean. The feeder house had been rebuilt the previous winter. But the fuel system had started showing pressure inconsistencies 2 days earlier, and Martin had shut it down rather than risk a bigger failure in the middle of a field. The parts manager came back with the filter and rang it up. $47.80.

As Martin paid, the sales manager, a man named Greg Yates, who’d worked at Crest View for 11 years, walked over and asked how the harvest was going. Martin said it was going fine, apart from the filter issue. Greg nodded and said he’d noticed Martin’s 2388 in the service records. How many hours you got on that machine now? 2,680 separator, Martin said.

Greg said that’s getting up there. You thought about what’s next. Martin said he hadn’t thought much past finishing this harvest. Greg said, “Well, we’ve got a 200710 on the lot. Just came in last week. It’s got the AFX rotor system, 27 ft header capability, yield monitoring, GPS ready. It’s a significant step up from the 2388 platform.

Martin said he’d seen it when he pulled in. It looked like a serious machine. Greg said it is. And right now, we’re running a finance promotion through KIH credit. 4.9% over 7 years if you commit by September 7th. That’s 72 hours from now. After that, the rate goes back to standard, which is running around 7.2. 2%. Martin asked what the machine cost.

Greg said, “The sticker’s $248,000, but with your 23.88 as a trade, we can work the numbers. What do you think it’s worth?” Martin said he didn’t know. Greg said I’d have to get it appraised, but based on hours and condition, probably 62,000 to $68,000 range. Let’s call it $65,000 to be fair. That puts you at 183,000 to finance. At 4.

9% over 7 years, your payments around $2,480 a month. Martin didn’t say anything. Greg said, “I know that sounds high, but you’ve got to think about what you’re getting. Newer technology, better fuel efficiency, more capacity. You could probably add another 200 acres to your harvest schedule with the speed and width you’d gain. And the 4.

9% rate is real money saved over seven years. That’s about $18,000 less in interest than you’d pay at standard rate. Martin said, “I appreciate you running the numbers.” Greg said the 72-hour window is firm. It’s a corporate promotion. I can’t extend it, and I can’t predict when they’ll run it again. If you want the 4.

9%, you need to commit by Thursday at close of business. Martin said, “I’ll think about it.” Greg said, “Don’t think too long. This kind of rate doesn’t come around often.” Martin drove home with the fuel filter and installed it that afternoon. The 2388 started clean and ran smooth. He finished the remaining 340 acres over the next two days and hauled the wheat to the elevator.

The price was $4.85 a bushel. Not great, but workable. That evening, Martin sat at his kitchen table with a notepad and ran the numbers Greg had given him. $2,480 a month, $29,760 a year. Over seven years, $28,320 total for a combined that would replace a machine that still worked. If you’ve stayed with this channel, you understand that the decisions farmers face aren’t about equipment features or interest rates.

They’re about time, consequences, and what gets carried forward when the payments outlast the planning. This channel exists to preserve those stories, the ones that take a decade to understand. If that matters to you, subscribe. It’s a way of saying the long view still counts. Now, back to Martin and the 72 hours he was given to decide. Martin Hesser had been farming 1,840 acres outside Broken Bow since 1989 when he’d taken over from his father-in-law, who’d retired at 67 after 40 years on the same ground.

The land was half-owned, half leased. 920 acres of wheat, 920 acres of corn. The operation was manageable, predictable, and structured around equipment Martin had bought used and maintained carefully. The 2388 Combine had come into the operation in 2001. Martin had bought it from an estate sale near Karnney.

It had 890 separator hours. Then the price was $74,000. He’d paid cash. Money saved from three consecutive good wheat years in the late 90s when prices had stayed above 520 cents and yields had come in strong. Martin’s approach to equipment was shaped by what he’d watched his father-in-law do, which was buy machines that were 5 to 8 years old, maintain them past their supposed lifespan, and replace them only when repair costs exceeded half the machine’s remaining value.

It wasn’t a philosophy Martin had named. It was just how he operated. The 2388 had required work. In 2003, the concaves had needed replacement. In 2005, the feeder house chain had worn through, and Martin had rebuilt the entire assembly with his hired man, a 19-year-old named Cory, who’d grown up on a ranch east of town and knew how to work without needing instruction.

By September 2006, the combine had been running for five seasons without major failure. The fuel filter issue had been the first significant problem all year. Martin’s wife, Beth, had been keeping the farm’s books since 1991. She knew what the operation brought in and what it cost to run. On the evening of September 4th, after Martin came in from installing the filter, she asked him if Greg Yates had talked to him about the new combine.

Martin said he had. Beth said Cory mentioned it when he stopped by to pick up his check. He said Greg told him you were looking at the 7U10. Martin said Greg told him I should be looking at it. I didn’t say I was. Beth asked what the numbers were. Martin showed her the notepad. $2,480 a month for 7 years.

Beth looked at the number for a long time. Then she said, “We’ve never carried a payment that size.” Martin said, “I know.” Beth said, “Can we cover it?” Martin said, “If wheat stays above 450s and corn stays above 380, probably. If either one drops below that for more than one season, no.” Beth said, “What happens in year three if prices fall?” Martin said, “We’d have to cut somewhere else, reduce inputs, defer maintenance, maybe drop some leased ground.

” Beth said, “Or sell equipment to cover the gap.” Martin said that, too. Beth asked if the 2388 was done. Martin said, “No, it’s got years left if I keep up with it.” Beth said, “Then why is Greg pushing the 7010?” Martin said, “Because that’s his job and because the 4.9% rate ends Thursday.” Beth said, “What do you want to do?” Martin said, “I want to finish this harvest and think about it without a clock running.

” Beth said, “Then that’s what we do.” On September 5th, Martin was combining the last of his corn when his neighbor, a man named Dennis Kohler, pulled up to the field edge in his truck. Dennis farmed 2400 acres 2 mi south. He ran newer equipment, traded every four to 5 years, and financed most of it.

Dennis walked out to the combine and waited for Martin to finish the pass. When Martin shut down and climbed out, Dennis said, “I heard you’re looking at the new 7D10.” Martin said, “Greg mentioned it.” Dennis said, “I saw it on the lot. That’s a hell of a machine. I’m thinking about moving up to one myself in a year or two.

” Martin said, “What are you running now?” Dennis said, “A 20057 and 10 firstear model. I’ve got,00 on it. It’s been solid, but the newer ones have better rotor design and the cab’s quieter.” Martin asked what a 2005 cost. Dennis said, “I financed $226,000 in 2005. I’m 3 years into a 7-year note.” Martin asked what the payment was.

Dennis said, “$2,940 a month.” Martin didn’t say anything. Dennis said, “It’s high, but the capacity pays for itself. I can run 200 more acres a season than I could with my old 23.88. That’s real income.” Martin said, “If the price holds, Dennis said it’s held for 3 years. No reason to think it won’t.” Martin said, “I guess we’ll see.” Dennis looked at him.

“You’re not going to do it, are you?” Martin said, “I haven’t decided.” Dennis said, “Martin, you can’t run a 1998 forever. At some point, you’ve got to modernize or you’ll get left behind.” Martin said, “Left behind by what?” Dennis didn’t answer. He just shook his head and walked back to his truck. That evening, Martin called Crest View and asked to speak to Greg Yates.

Greg picked up and said, “I was hoping I’d hear from you.” Martin said, “I’ve been thinking about the 7010.” Greg said, “Good. You ready to move forward?” Martin said, “I want to know what happens if I don’t take the 4.9% rate.” Greg said, “Then you wait until the next promotion or you finance at standard rate. Right now, that’s 7.2%.

Your payment would go from $2,480 to around $2,715 a month. That’s an extra $235 a month, which over 7 years is about 19740 more in interest. Martin said, “What if I bought a used 7010 instead?” Greg said, “We don’t have any used 710s right now. They’re still pretty new to the market. If one comes in, it’s not going to be significantly cheaper than new, and you won’t get the promotional rate.

” Martin said, “What about a used 2388 or a 2366 in better shape than mine? Greg was quiet for a moment. Then he said, “Martin, I’m trying to help you here. The 4.9% rate is the best financing you’re going to see on a combine this year. If you pass on it, you’re leaving money on the table.” Martin said, “I’m not leaving money on the table, Greg.

I’m just not picking it up.” Greg said, “The clock’s running. You’ve got until Thursday at 5:00 p.m.” Martin said, “I know. Thanks for your time.” He hung up. On September 6th, Martin drove to an equipment auction in Lexington, 60 mi southeast. He wasn’t planning to buy. He just wanted to see what used KIH combines were selling for.

The auction had three combines. A 2000 KIH 2366 with 2100 separator hours, a 1996 KIH2188 with 3,400 hours, and a 2003 KIH 2388 with 1,850 hours. The 2366 opened at $45,000. Bidding was slow. It sold for $52,000. The 2188 opened at $28,000. It sold for $34,500. The 2388 opened at $68,000. Bidding picked up. It sold for $79,000.

Martin stood at the back and watched. The 2003 2388 that sold for $79,000 had 830 fewer separator hours than his own machine. It looked cleaner, but it wasn’t functionally different. After the auction, Martin talked to the man who’d bought the 2366. His name was Ray Talbet. He farmed 1200 acres near Koad.

Martin asked him why he bought the 2366 instead of the newer 2388. Ray said, “Because I can pay for the 2366 with cash.” and the 2388 would have required financing. I don’t finance equipment anymore. Martin asked, “Why not?” Ry said, “Because in 2002, I financed a new tractor and a new planter in the same year.

By 2004, wheat dropped to 3.40 and I couldn’t cover both payments. I sold the planter at a loss and barely kept the tractor. I learned that equipment debt is easy to take on and hard to live with when prices move against you. Martin said, “What if you need newer equipment?” Ry said, “Then I save for it or I buy used and I make what I’ve got last longer than it’s supposed to. I’m 58 years old.

I’ve got 12 years left before I retire. I’m not spending those years working to make payments.” Martin drove home and thought about what Rey had said. That night, he told Beth he wasn’t buying the 7010. Beth said, “What are you going to do instead?” Martin said, “I’m going to find a used 2366 or another 2388 in good shape, and I’m going to pay cash.

” Beth said, “What about the 4.9% rate?” Martin said, “The rate doesn’t matter if I don’t take the loan.” Beth looked at him. “You sure?” Martin said, “I’m sure.” On September 7th, at 3:30 p.m., Greg Yates called Martin’s cell phone. Martin was in the machine shed changing oil on his tractor. Greg said, “Martin, I’ve got two hours left on the promotional rate.

I need to know if you’re in or out.” Martin said, “I’m out. Greg.” Greg said, “You’re making a mistake. This rate won’t come around again.” Martin said, “I appreciate the offer, but I’m not interested.” Greg said, “What are you going to do when that 2388 quits?” Martin said, “I’ll deal with it when it happens.” Greg said, “You’re going to regret this.

” Martin said, “Maybe, but I’d regret the payment more.” Greg hung up without saying goodbye. Martin went back to the oil change and didn’t think about the call again. In October 2006, Martin found a 1999 KIH23366 for sale in a classified ad in the North Plat Telegraph. The combine had 2400 separator hours.

The seller was a retiring farmer named Ed CR who’d maintained it himself and had service records going back to the purchase date. Martin drove out to look at it on a Saturday. The combine was clean. The feeder house showed normal wear. The rotor was straight. The concaves had been replaced 600 hours earlier. Ed said he was asking $58,000.

Martin offered $54,000 cash. Ed said $56,000 and you haul it yourself. Martin said, “Deal.” He paid for the 2366 with money from the farm’s equipment fund, an account Beth had been adding to since 2003, specifically for the next combine purchase. The account had $61,000 in it. After buying the 2366, $5,000 remained.

Martin sold his 1998 2388 at an equipment auction in November for $63,000. The money went back into the equipment fund, bringing the balance to $68,000. The 1999 2366 ran through the 2007 harvest without issue. It was slower than a 710 would have been. The cab was older, the technology was simpler, but it combined wheat and corn reliably, and it didn’t carry a payment.

Dennis Kler bought a 2007 KIH710 in May 2007. Martin saw it running in Dennis’s field that fall. It looked fast. The cab was enclosed and climate controlled. The header was wider. Dennis finished his harvest 4 days ahead of Martin. In December 2007, wheat prices started climbing. By February 2008, wheat was at $8.90 a bushel.

By May, it hit $1.40. Corn followed. In June 2008, corn reached 720. Martin’s 2008 harvest brought in the highest gross revenue the farm had ever seen. 920 acres of wheat at an average yield of 48 bushels per acre sold at $10.20. 920 acres of corn at 155 bushels per acre sold at 680s. The total came to 421,280. After input costs, labor, land rent, fuel, and repairs, Martin cleared $340,000.

Dennis Kohler had a similar year. His acreage was higher and his equipment was faster, but his gross margin was similar to Martins’s. The difference was that Dennis had $35,280 in annual equipment payments. Martin had none. In September 2008, the financial crisis hit. By December, wheat had dropped to $480. Corn fell to 350.

Credit tightened. Banks stopped extending operating loans to farmers who were overleveraged. In 2009, Martin’s wheat yield dropped to 41 bushels per acre. Corn dropped to 142 bushels. Prices stayed low. His gross revenue for 2009 was $780,000. After costs, he cleared $68,000. It wasn’t a good year, but it was survivable.

Dennis Kohler’s gross revenue was similar, but his equipment payments didn’t adjust for the lower income. He still owed $35,280 for the year. After payments and operating costs, Dennis cleared $22,000. In March 2010, Dennis called Martin and asked if he wanted to buy a 2007 710. Martin said, “I thought you were keeping that.

” Dennis said I was, “But I can’t carry the payment anymore. I’m 2 years behind on my operating loan, and the bank’s pressuring me to liquidate something.” Martin asked what he wanted for it. Dennis said, “I owe $164,000 on it. If you can cover that, it’s yours. Martin said, “I’m not financing equipment, Dennis.” Dennis said, “I know.

I’m just asking if you know anyone who might want it.” Martin said, “I’ll ask around.” Dennis sold the 7010 in April 2010 for $158,000 to a farmer in Ogalala. The sale didn’t cover the loan. Dennis paid the $6,000 difference out of savings and went back to running an older 2388 he’d kept in reserve. In 2011, wheat prices recovered slightly. Corn stayed low.

Martin’s year was flat. He broke even after costs. In 2012, the drought hit. Wheat yields dropped to 28 bushels per acre. Corn yields dropped to 89 bushels. Martin’s gross revenue fell to $512,000. After costs, he lost $14,000. He covered the loss with money from the equipment fund. Dennis Kohler lost $31,000 in 2012.

He sold 240 acres to cover it. In 2013, prices stayed low. Yields recovered slightly. Martin broke even again. In 2014, a farmer named Tom Worth, who farmed 3200 acres west of Broken Bow, filed for bankruptcy. Tom had financed a full line of new KIH equipment in 2007, including a 710 combine, two Magnum tractors, and a 1200 series planter.

His total equipment debt at the time of bankruptcy was $387,000. The equipment sold at auction for $298,000. The bank took a $89,000 loss. Tom moved to Omaha and took a job driving truck. Martin attended the auction. He didn’t buy anything. He just watched. In 2015, Crestview implement in Broken Bow closed.

The building was sold to a farm supply company. Greg Yates took a job at a dealership in North Platt. The nearest KIH dealer was now 47 miles away in Karnney. In 2016, Martin’s 2366 threw a bearing in the rotor during wheat harvest. The combine had 4,900 separator hours. Martin hauled it to the Karnney dealer. The repair estimate came back at $8,400.

Martin asked if they had any used 2366 or 2388 combines on the lot. The sales manager said they had a 2005 2388 with 2200 hours. The price was $89,000. Martin said, “I’ll think about it.” He paid for the rotor repair and finished the harvest with the 2366. In October 2016, Martin found a 2004 KIH2388 for sale at an estate auction near Grand Island.

The combine had 1,780 separator hours. It looked wellmaintained. Bidding opened at $60,000. Martin bid to $72,000 and stopped. The combine sold for $78,000 to someone else. Martin kept running the 2366. In 2017, Beth was diagnosed with ovarian cancer. She underwent surgery in Lincoln in August and started chemotherapy in September.

Martin drove her to every appointment. The treatments ran through March 2018. The medical bills totaled $47,000 after insurance. Martin paid them from savings. Beth recovered slowly. By summer 2018, she was back to managing the books, but she tired easily and couldn’t work full days. The 2366 ran through the 2018 Harvest.

It was showing its age. The cab was drafty, the hydraulics were slow, but the engine was sound, and the rotor still turned. In 2019, Martin turned 62. He’d been farming for 30 years. The equipment fund had $93,000 in it. The farm had no debt. Dennis Kohler retired in 2019 and sold his operation to a corporate farm. He moved to a small house in Broken Bow.

When people asked him about farming, he said he was glad to be done with it. Martin kept farming. In 2020, wheat prices improved. Martin had a decent crop. He cleared $112,000 after costs. In 2021, his hired man, Corey, who’d been with the operation for 15 years, took a job with a construction company in Kernney.

Better pay, benefits, weekends off. Martin didn’t replace him. He started running the operation alone. In August 2022, the 2366 lost hydraulic pressure during corn harvest. Martin shut it down and checked the pump. It was worn through. The replacement cost $3,200. Martin installed it himself over 2 days. The combine had 6,800 separator hours.

That evening, Martin sat at the kitchen table with Beth and said, “I think it’s time to replace the 2366.” Beth said, “With what?” Martin said, “I don’t know yet, but this one’s getting expensive to keep running.” Beth said, “How much is in the equipment fund?” Martin said, “$87,000.” Beth said, “What can you get for that?” Martin said, “A used 23.

88 88 in decent shape. Maybe a 2366 with lower hours. Beth said, “No payments.” Martin said, “No payments.” Beth said, “Then find one.” In October 2022, Martin bought a 2006 KIH2388 from a private seller near Scotsluff. The combine had 2100 separator hours. The price was $84,000. Martin paid cash. He sold the 1999 2366 at auction in November for $38,000.

The money went back into the equipment fund. The 2006 2388 ran through the 2023 harvest without issue. In January 2024, Martin received a letter from a farmland investment group offering to buy his 920 owned acres for $4,800 per acre. The total offer was $4,416,000. Martin showed the letter to Beth. Beth said, “What do you want to do?” Martin said, “I’m 67.

I’ve been farming for 35 years. I’m tired. Beth said, “Then sell.” Martin called the investment group and accepted the offer. The sale closed in April 2024. Martin kept the equipment and leased it back to the investment group’s farm manager for the 2024 season. After that season, he sold the 2388, the tractors, and the planter at auction. The 2388 sold for $71,000.

In August 2024, Martin and Beth moved to a small house in Kernney. Martin was 67 years old. Beth was 65. They had $4.7 million in assets and no debt. On a Saturday afternoon in September, Martin drove past the old Crestview implement in Broken Bow. It was still a farm supply store.

The KIH sign had been gone for 9 years. He thought about September 4th, 2006. The 72-hour deadline. Greg Yates standing in the parts department telling him the 4.9% rate was the best he’d ever see. Martin had walked away from that rate and bought a used 2366 for cash instead. If he’d bought the 7A 10, he would have paid $28,320 over 7 years.

The combine would have been faster, newer, more capable, but the payments would have been there in 2009 when prices collapsed. They would have been there in 2012 when the drought hit. They would have been there in 2017 when Beth got sick. Martin had avoided those payments by buying used equipment and running it longer than it was supposed to last.

The 2366 had given him 16 years. It hadn’t been fast. It hadn’t been modern, but it had been paid for. And in farming, what you don’t owe matters more than what you own. Dennis Kohler still lives in Broken Bow. He’s 71 now. He doesn’t farm anymore. When people ask him about the years he spent running new equipment, he says it was exciting while it lasted.

Tom Worth, the farmer who went bankrupt in 2014, still drives truck in Omaha. He’s 66. He hasn’t been back to Broken Bow since the auction. Greg Yates retired from the dealership in North Platt in 2023. He’s 68. He doesn’t talk about the broken bow years. The 2007 KIH7D10 that Greg tried to sell Martin in September 2006 is still running somewhere.

It’s changed hands four times. The current owner bought it in 2021 for $63,000 with 4,200 separator hours. Martin Hesser doesn’t know where it is and he’s never thought to ask. He just knows that on September 7th, 2006, he had 72 hours to decide and he used all of them to say no. On September 4th, 2006, a 49-year-old farmer named Martin Hesser stood in the parts department at Crest View implement, the KIH dealer in Broken Bow, Nebraska, waiting for a fuel filter that his 1998 KIH 2388 combine needed before he could finish the last 340

acres of his wheat harvest. The combine had 2,680 separator hours on it. The engine ran clean. The feeder house had been rebuilt the previous winter, but the fuel system had started showing pressure inconsistencies 2 days earlier, and Martin had shut it down rather than risk a bigger failure in the middle of a field.

The parts manager came back with the filter and rang it up. $47.80. As Martin paid, the sales manager, a man named Greg Yates, who’d worked at Crest View for 11 years, walked over and asked how the harvest was going. Martin said it was going fine, apart from the filter issue. Greg nodded and said he’d noticed Martin’s 2388 in the service records.

How many hours you got on that machine now? 2,680 separator, Martin said. Greg said that’s getting up there. You thought about what’s next. Martin said he hadn’t thought much past finishing this harvest. Greg said, “Well, we’ve got a 200710 on the lot. Just came in last week. It’s got the AFX rotor system, 27 ft header capability, yield monitoring, GPS ready.

It’s a significant step up from the 2388 platform.” Martin said he’d seen it when he pulled in. It looked like a serious machine. Greg said it is. And right now, we’re running a finance promotion through KIH Credit. 4.9% over seven years if you commit by September 7th. That’s 72 hours from now. After that, the rate goes back to standard, which is running around 7.2%.

Martin asked what the machine cost. Greg said the sticker’s $248,000, but with your 23.88 as a trade, we can work the numbers. What do you think it’s worth? Martin said he didn’t know. Greg said I’d have to get it appraised, but based on hours and condition, probably $62,000 to $68,000 range. Let’s call it $65,000 to be fair.

That puts you at $183,000 to finance. At 4.9% over 7 years, your payments around $2,480 a month. Martin didn’t say anything. Greg said, “I know that sounds high, but you’ve got to think about what you’re getting. Newer technology, better fuel efficiency, more capacity. You could probably add another 200 acres to your harvest schedule with the speed and width you’d gain. And the $4.

9% rate is real money saved over 7 years. That’s about $18,000 less in interest than you’d pay at standard rate. Martin said, “I appreciate you running the numbers.” Greg said, “The 72-hour window is firm. It’s a corporate promotion. I can’t extend it and I can’t predict when they’ll run it again. If you want the 4.

The price was $4.85 a bushel. Not great, but workable. That evening, Martin sat at his kitchen table with a notepad and ran the numbers Greg had given him. $2,480 a month. $29,760 a year. Over 7 years, $28,320 total for a combined that would replace a machine that still worked. If you’ve stayed with this channel, you understand that the decisions farmers face aren’t about equipment features or interest rates.

They’re about time, consequences, and what gets carried forward when the payments outlast the planning. This channel exists to preserve those stories, the ones that take a decade to understand. If that matters to you, subscribe. It’s a way of saying the long view still counts. Now, back to Martin and the 72 hours he was given to decide. Martin Hesser had been farming 1,840 acres outside Broken Bow since 1989 when he’d taken over from his father-in-law who’d retired at 67 after 40 years on the same ground.

The land was half-owned, half leased, 920 acres of wheat, 920 acres of corn. The operation was manageable, predictable, and structured around equipment Martin had bought used and maintained carefully. The 2388 Combine had come into the operation in 2001. Martin had bought it from an estate sale near Karnney.

It had 890 separator hours. Then the price was $74,000. He’d paid cash, money saved from three consecutive good wheat years in the late 90s when prices had stayed above 5 to 20 cents and yields had come in strong. Martin’s approach to equipment was shaped by what he’d watched his father-in-law do, which was buy machines that were 5 to 8 years old, maintain them past their supposed lifespan, and replace them only when repair costs exceeded half the machine’s remaining value.

” Martin said, “What are you running now?” Dennis said, “A 200570 10 firstear model. I’ve got 1100 hours on it. It’s been solid, but the newer ones have better rotor design and the cab’s quieter.” Martin asked what a 2005 cost. Dennis said, “I financed $226,000 in 2005. I’m 3 years into a 7-year note.” Martin asked what the payment was.

If one comes in, it’s not going to be significantly cheaper than new, and you won’t get the promotional rate.” Martin said, “What about a used 2388 or a 2366 in better shape than mine? Greg was quiet for a moment. Then he said, “Martin, I’m trying to help you here. The 4.9% rate is the best financing you’re going to see on a combine this year.

If you pass on it, you’re leaving money on the table.” Martin said, “I’m not leaving money on the table, Greg. I’m just not picking it up.” Greg said, “The clock’s running. You’ve got until Thursday at 5:00 p.m.” Martin said, “I know. Thanks for your time.” He hung up. On September 6th, Martin drove to an equipment auction in Lexington, 60 mi southeast.

He wasn’t planning to buy. He just wanted to see what used KIH combines were selling for. The auction had three combines. A 2000 KIH 2366 with 2100 separator hours, a 1996 KIH2188 with 3,400 hours, and a 2003 KIH 2388 with 1,850 hours. The 2366 opened at $45,000. Bidding was slow. It sold for $52,000. The 2188 opened at $28,000.

It sold for $34,500. The 2388 opened at $68,000. Bidding picked up. It sold for $79,000. Martin stood at the back and watched. The 2003 2388 that sold for $79,000 had 830 fewer separator hours than his own machine. It looked cleaner, but it wasn’t functionally different. After the auction, Martin talked to the man who’ bought the 2366.

His name was Ray Talbett. He farmed 1,200 acres near Koad. Martin asked him why he bought the 2366 instead of the newer 2388. Ray said, “Because I can pay for the 2366 with cash.” and the 2388 would have required financing. I don’t finance equipment anymore. Martin asked why not. Ry said because in 2002 I financed a new tractor and a new planter in the same year. By 2004, wheat dropped to 3.

40 and I couldn’t cover both payments. I sold the planter at a loss and barely kept the tractor. I learned that equipment debt is easy to take on and hard to live with when prices move against you. Martin said, “What if you need newer equipment?” Ray said, “Then I save for it or I buy used and I make what I’ve got last longer than it’s supposed to.

I’m 58 years old. I’ve got 12 years left before I retire. I’m not spending those years working to make payments.” Martin drove home and thought about what Rey had said. That night, he told Beth he wasn’t buying the 7010. Beth said, “What are you going to do instead?” Martin said, “I’m going to find a used 2366 or another 23.

88 in good shape and I’m going to pay cash.” Beth said, “What about the 4.9% rate?” Martin said, “The rate doesn’t matter if I don’t take the loan.” Beth looked at him. “You sure?” Martin said, “I’m sure.” On September 7th at 3:30 p.m., Greg Yates called Martin’s cell phone. Martin was in the machine shed changing oil on his tractor.

Greg said, “Martin, I’ve got two hours left on the promotional rate. I need to know if you’re in or out.” Martin said, “I’m out, Greg.” Greg said, “You’re making a mistake. This rate won’t come around again.” Martin said, “I appreciate the offer, but I’m not interested.” Greg said, “What are you going to do when that 2388 quits?” Martin said, “I’ll deal with it when it happens.

” Greg said, “You’re going to regret this.” Martin said, “Maybe, but I’d regret the payment more.” Greg hung up without saying goodbye. Martin went back to the oil change and didn’t think about the call again. In October 2006, Martin found a 1999 Case IH23366 for sale in a classified ad in the North Plat Telegraph. The combine had 2400 separator hours.

Martin sold his 1998-2388 at an equipment auction in November for $63,000. The money went back into the equipment fund, bringing the balance to $68,000. The 1999 2366 ran through the 2007 harvest without issue. It was slower than a 710 would have been. The cab was older, the technology was simpler, but it combined wheat and corn reliably, and it didn’t carry a payment.

Dennis Kohler bought a 2007 KIH710 in May 2007. Martin saw it running in Dennis’s field that fall. It looked fast. The cab was enclosed and climate controlled. The header was wider. Dennis finished his harvest 4 days ahead of Martin. In December 2007, wheat prices started climbing. By February 2008, wheat was at $8.90 a bushel.

By May, it hit $140. Corn followed. In June 2008, corn reached 720. Martin’s 2008 harvest brought in the highest gross revenue the farm had ever seen. 920 acres of wheat at an average yield of 48 bushels per acre sold at $10.20. 920 acres of corn at 155 bushels per acre sold at 680s. The total came to 421,280. After input costs, labor, land, rent, fuel, and repairs, Martin cleared $340,000.

Dennis Kohler had a similar year. His acreage was higher and his equipment was faster, but his gross margin was similar to Martin’s. The difference was that Dennis had $35,280 in annual equipment payments. Martin had none. In September 2008, the financial crisis hit. By December, wheat had dropped to $480. Corn fell to 350.

Dennis Kohler’s gross revenue was similar, but his equipment payments didn’t adjust for the lower income. He still owed $35,280 for the year. After payments and operating costs, Dennis cleared $22,000. In March 2010, Dennis called Martin and asked if he wanted to buy a 200710. Martin said, “I thought you were keeping that.

I’m just asking if you know anyone who might want it.” Martin said, “I’ll ask around.” Dennis sold the 7010 in April 2010 for $158,000 to a farmer in Ogalala. The sale didn’t cover the loan. Dennis paid the $6,000 difference out of savings and went back to running an older 23.88 he’d kept in reserve. In 2011, wheat prices recovered slightly. Corn stayed low.

Greg Yates took a job at a dealership in North Platt. The nearest KIH dealer was now 47 mi away in Karnney. In 2016, Martin’s 2366 threw a bearing in the rotor during wheat harvest. The combine had 4,900 separator hours. Martin hauled it to the Karnney dealer. The repair estimate came back at $8,400. Martin asked if they had any used 2366 or 2388 combines on the lot.

The sales manager said they had a 2005 2388 with 2200 hours. The price was $89,000. Martin said, “I’ll think about it.” He paid for the rotor repair and finished the harvest with the 2366. In October 2016, Martin found a 2004 KIH2388 for sale at an estate auction near Grand Island. The combine had 1,780 separator hours. It looked well-maintained.

Bidding opened at $60,000. Martin bid to $72,000 and stopped. The combine sold for $78,000 to someone else. Martin kept running the 2366. In 2017, Beth was diagnosed with ovarian cancer. She underwent surgery in Lincoln in August and started chemotherapy in September. Martin drove her to every appointment.

The treatments ran through March 2018. The medical bills totaled $47,000 after insurance. Martin paid them from savings. Beth recovered slowly. By summer 2018, she was back to managing the books, but she tired easily and couldn’t work full days. The 2366 ran through the 2018 harvest. It was showing its age. The cab was drafty, the hydraulics were slow, but the engine was sound, and the rotor still turned.

In 2019, Martin turned 62. He’d been farming for 30 years. The equipment fund had $93,000 in it. The farm had no debt. Dennis Kohler retired in 2019 and sold his operation to a corporate farm. He moved to a small house in Broken Bow. When people asked him about farming, he said he was glad to be done with it. Martin kept farming.

In 2020, wheat prices improved. Martin had a decent crop. He cleared $112,000 after costs. In 2021, his hired man, Corey, who’d been with the operation for 15 years, took a job with a construction company in Kernney. Better pay, benefits, weekends off. Martin didn’t replace him. He started running the operation alone.

In August 2022, the 2366 lost hydraulic pressure during corn harvest. Martin shut it down and checked the pump. It was worn through. The replacement cost $3,200. Martin installed it himself over two days. The combine had 6,800 separator hours. That evening, Martin sat at the kitchen table with Beth and said, “I think it’s time to replace the 2366.

” Beth said, “With what?” Martin said, “I don’t know yet, but this one’s getting expensive to keep running.” Beth said, “How much is in the equipment fund?” Martin said, “$87,000.” Beth said, “What can you get for that?” Martin said, “A used 23.88 88 in decent shape, maybe a 2366 with lower hours. Beth said, “No payments.

” Martin said, “No payments.” Beth said, “Then find one.” In October 2022, Martin bought a 2006 KIH-2388 from a private seller near Scotsluff. The combine had 2100 separator hours. The price was $84,000. Martin paid cash. He sold the 1999 2366 at auction in November for $38,000. The money went back into the equipment fund.

The 2006 2388 ran through the 2023 harvest without issue. In January 2024, Martin received a letter from a farmland investment group offering to buy his 920 owned acres for $4,800 per acre. The total offer was $4,416,000. Martin showed the letter to Beth. Beth said, “What do you want to do?” Martin said, “I’m 67. I’ve been farming for 35 years. I’m tired.

Beth said, “Then sell.” Martin called the investment group and accepted the offer. The sale closed in April 2024. Martin kept the equipment and leased it back to the investment group’s farm manager for the 2024 season. After that season, he sold the 2388, the tractors, and the planter at auction. The 2388 sold for $71,000. In August 2024, Martin and Beth moved to a small house in Kernney.

Martin was 67 years old. Beth was 65. They had $4.7 million in assets and no debt. On a Saturday afternoon in September, Martin drove past the old Crest View implementing in Broken Bow. It was still a farm supply store. The KIH sign had been gone for 9 years. He thought about September 4th, 2006. The 72-hour deadline.

Greg Yates standing in the parts department telling him the 4.9% rate was the best he’d ever see. Martin had walked away from that rate and bought a used 2366 for cash instead. If he’d bought the 7A 10, he would have paid $28,320 over 7 years. The combine would have been faster, newer, more capable, but the payments would have been there in 2009 when prices collapsed.