If your farm is in need of more equipment, you may be tempted to purchase used pieces instead of new equipment in hopes of saving a few dollars. However, it is important to do your research before purchasing used equipment. Otherwise, you may have to pay for costly repairs that will ultimately make your used equipment more expensive than brand new equipment. Follow these guidelines to ensure your purchase of used farm equipment is a smart buy.
1. Understand the Options for Your Prospective Purchase
Options for seemingly similar pieces of farm equipment vary significantly across different brands and models. Don't assume that one brand has a feature simply because a comparable competing brand has the feature. Thoroughly read the specifications so that you know your new purchase has the proper options to make it a smart addition to your farm.
2. Explore Multiple Purchase Avenues
Don't make the mistake of only shopping at a single auction or consignment shop. Instead, browse multiple buying avenues, including private sellers, commercial sellers, online auctions, and local dealers. By shopping around, you provide yourself with a greater variety to choose from and verify that you are paying a reasonable price for your farm equipment purchase.
3. Consider the Piece's Future Resale Value
You may be unsure as to whether you want to hold onto a piece of equipment for years, or if you only need it for a short period. If you think that you might want to sell the equipment sooner rather than later, you need to pay attention to details that will help the equipment hold its resale value. Should you decide to sell it in the future, this will help you receive a higher sales prices.
Pay attention to special features or options that will help your farm equipment hold its value. Even if you don't need these features for use on your farm, they can help turn your purchase into a smart investment.
4. Research Options for Equipment Repairs and Maintenance
Even farming equipment that is meticulously taken care will eventually need maintenance or repairs. Make sure that you have a mechanic or farm equipment dealer in your area who can service your new machine.
If the closest mechanic for your chosen brand and model is hours away, this can make it inconvenient to service your equipment. In addition to the cost of servicing the equipment, you will also need to pay hauling costs to get the equipment to the mechanic
You may prefer a different model or brand that a closer mechanic can work on.Share
18 July 2018
When I started farming on my land, I thought of it as mostly a hobby. Instead of worry about the quality of my beets and potatoes, I focused on having fun with my kids and learning how to operate my farming equipment. However, as time went on, I realized that farming offered some pretty valuable opportunities. I started selling some of my goods at local farmer's markets, and it was amazing to see how much people enjoyed my stuff. I want to teach you how to grow better food, so that you can eat better and make the world a wonderful place.