Admittedly, there are some sleepers where you can score a good deal .. but this one doesn't appear to be one to me.
There are numerous factors in this deal information that put me right off .. and they are ..
1. The seller is deceptive. I, like the largest proportion of people, appreciate when a seller is "up-front" about problems. The story associated with the pony is pure deceptiveness, and possibly hides a whole lot more untruths and bigger problems.
2. The sellers attitude to maintenance is a crucial factor when looking at a tractor. Too many people operate tractors on the basis on minimal maintenance, and "put-off" repairs. This appears to be one of those tractors.
These type of people run tractors into the ground, and refuse to fix or maintain anything. If something stops working, they will find a "work-around" such as a pull-start, rather than fix the problem.
I'd much rather see a list of documented repairs presented to me .. rather than a statement such as .. "I've owned it for 25 years, and never spent a cent on it!! .. "
This invariably means, of course, that the new owner is facing a list of repair requirements, that have built up steadily over the years ..
3. 80% undercarriage is a estimation by eye. I defy anyone to come up with an accurate undercarriage measurement, by eye alone. Measuring devices such as tape and calipers give the precise measure of wear, or life left .. and are absolutely essential to getting an accurate representation of undercarriage condition.
You never see a Cat CTS man "eyeball" your undercarriage, do you? - they take precise measurements and calculate accordingly.
4. The problems listed are not a comprehensive list, gleaned by close examination of every operating part of the tractor. An inspection of a used tractor is not done on a cursory basis .. properly done, it involves a list or chart outlining every component .. any problems found .. component condition .. repairs needed .. and rectification needed.
This is a standard military and dealer approach, and is a very wise approach to take, in relation to any used equipment purchase.
I've made my own inspection charts, based on military lines, for every type of equipment .. and many people I've assisted with machine inspections, were quite stunned to see my charts .. and more importantly, were often surprised at the end result, of seeing all faults and repairs needed, documented on one simple form.