Forum Discussion
wapiticountry
Oct 17, 2022Explorer
Are you prepared for the substantial financial hit from depreciation? You bought a new rig and will be selling a used one. Expect to lose at least 20% and likely more. Interest rates have also moved much higher in the last few months putting downward pressure on prices you can get on a sale and raising payments for prospective buyers. Finally, inventories in new rigs are returning to normal after COVID, so selling is no longer shooting fish in a barrel. You may want to try and accept the limitations of your rig and enjoy the advantages if money is a concern.
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