If you are thinking about buying or leasing new machinery for your farming or construction business, there are a few important factors to think about. Making the decision between buying and leasing heavy equipment relies solely on your specific business needs and situation. It is however important to know the pros and cons of buying or leasing earth moving equipment before settling on a final decision.

Leasing

Leasing is a great option for equipment or machinery that requires modern updating. Taking the lease option makes it both quicker and easier to upgrade to better technology should the need arise. This allows you to stay competitive in the industry as well as avoid getting stuck with outdated equipment.

If budget is of concern, leasing offers reprieve because you will be looking at predictable and easy payments. You can still have the equipment you need without having to pay a huge lump sum for it. In addition to this, leasing makes budgeting easier in the long-term.

Leasing is also flexible, allowing you to try different equipment to find what works best for your business. Simply going for farm machinery for sale may means that you bear the burden of the equipment if the projected efficiency, productivity or return on investment does not meet your expectation. There is more wiggle room in leasing because you can use different equipment to find what works best, and ultimately make a final decision to buy the equipment if need arises.

Buying

One of the major advantages of buying equipment Is you have more freedom to make alterations or changes if necessary. Outright ownership gives you more flexibility over what your equipment can or cannot do. In addition to this, you are responsible for making the maintenance schedule, making it more likely to get problems addressed timely.

Should you make the decision to sell the equipment once the job is done or it has become outdated, you can recoup some of the cost of the equipment. This is especially advantageous if the said equipment has had a major impact on your bottom line.

Buying equipment can also offer peace of mind in that you don’t have to deal with contracts and agreements. Whatever option you choose, it is important to have the backing of a good financing company. Such a company can also offer professional advice on which option will work best for your current and even future business situation. Financing companies such as CNH Industrial are definitely worth looking into for all your equipment financing solutions.

Contact us

CNH Industrial Capital
Address: CNH Industrial Capital, Locked Bag 3 St Mary's NSW 1790
Ph: 1800 777 916
Website: www.cnhindustrialcapital.com.au