Getting new farm equipment isn’t the only option if you are in need of equipment to increase productivity or efficiency. Used farm machinery has had an unfair reputation but is actually a viable and even smart business decision to make. New equipment can be expensive and unsustainable in the long term. There are a number of reasons why you should seriously look into getting used farm equipment.

Money savings

There is reliable used machinery available for sale, which means that business owners can enjoy all the benefits of new equipment at a fraction of the cost. This is especially advantageous for new farming ventures that have to contend with capital restraints. Such a venture can get off the ground with used equipment, and purchase new as the business grows or as business needs change.

Lender requirement

If you are looking into commercial equipment finance, you might find that your lender insists that you only purchased used equipment. Financial companies usually make decisions based on the specific business and these decisions tend to be more professional and well though out. If a lender insists on only purchasing used equipment, there is usually a good reason for this.

Seasonal benefits

Used farm equipment can be especially advantageous for seasonal farmers. Rather than buy new equipment that is only used during a specific season in a year, it makes more financial sense to purchase cheaper equipment that can offer the same service. Even used equipment can offer many years of service and a good return on investment. This is of course if the equipment is in good condition in the first place, and that it is properly maintained and cared for.

Name brands

Name brands can be expensive when purchasing straight from the manufacturer. Used models are much cheaper, and offer similar service depending on the condition. Buying lesser known brands for cheaper can mean having difficulty finding parts or equipment service experts.

Trials

New equipment dealers rarely allow their equipment to be tested in the field. This can be a problem if you are not sure whether the equipment will have the desired projected benefits. It is however easier to negotiate with used equipment dealers for a trial period to ensure that you are making the right decision.

If you are thinking about purchasing farming equipment or machinery, new is not the only way to go. There are also many agricultural financing options from lenders such as CNH Industrial to help you acquire the used machinery that you want. Consider these factors when making a final decision on what type of equipment to purchase.

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