Farm Tractors

Posts Tagged ‘farming equipment’

a Tour of the Farming Equipment Pavilion at the La rural Expo in Buenos Aires, Mostly Argentine technology companies demonstrating home-grown innovation to compete with the likes of John Deere and New Holland August 3, 2010

In order to satisfy the ever-increasing demand of the consumers, it is important that the farmers use agricultural equipment to speedup the process to keep up with the consumer demands. Farm equipment plays a very important role often acting as a deciding factor for any agricultural activity for that matter. However, it is not always possible for the farmer who usually has limited funds at his disposal, to get the farming equipment of his choice. Therefore, it doesn’t matter whether you are the small individual farmer or the boss of an agricultural business, it is important that you know about the various finance options available with respect to purchasing agricultural equipment.

When it comes to agricultural equipment financing, you have two options, i.e., equipment loans and equipment leasing. The equipment loans are usually granted to those farmers who have a brief history in the business of agriculture. These loans also depend upon the credit worthiness of the farmers seeking the agricultural equipment loans. This means that it is pretty difficult for those who have just entered the agricultural scenario and looking for some equipment loans. Due to these constraints, most of the new farmers seek the alternative of equipment leasing.

However, times are now changing and the interest has slowly shifted towards to the broader aspect of loaning equipment, rather than leasing. One of the best things about equipment loans is that the process is pretty simple. Equipment loans are just like the car loans that you find in the market. Just like any other loan, in the case of equipment loans too, the equipment is kept as security. This means that incase of any default in the payment of the interest or the installment of the loan, the equipment is simply repossessed. Therefore, in order to secure the most attractive loan option, it is important that you choose the one that offers low rates of interest, an affordable debt ratio, etc.

It is very essential that you start your farming activities with some good equipment, unless you are already part of a large organization or a tycoon. However, in case you are a small farmer even the start up process may feel like an impossible task for you and the main root of this problem is lack of the start up capital. There are many institutions that provide equipment loans which may include equipment used for handling the ranch, row crop, etc.

They would also include the high-end industrial equipment used for agro business activities such as applicator levelers, feeding mills, ginning equipment and other equipment used for the purpose agricultural and other agro based activities. A major advantage of equipment loans is that many financial institutions provide them at fixed interest rates and the period of repayment is decided upon the convenience of the farmer according to the Equipments and Farm Implement Financing Program.

One of the best things about equipment loans is that you can find many of them at attractive rates of interest on the Internet by conducting a simple research. There are many financing agencies that are working online in this respect. One important aspect to be kept in mind when opting for any equipment loan is that you need to compare the interest rates offered by various agencies in order to get the best deal.

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It can be an expensive old business purchasing farming equipment. One way that many people now save large amounts of money is by picking up used farm machinery online. Among the most popular items online and potentially some of the best bargains are used tractors.

In addition to cost savings there are other advantages to buying used farming equipment and tractors. Cost savings allow money to be stretched further and a larger fleet employed. Alternatively the cash saved by purchasing used farm equipment can be put to other more cost effective uses.

When considering buying a used tractor it’s wise to consider the brand, model and age with regards to parts availability. The price of parts (and downtime if the parts aren’t readily available) can potentially be prohibitive. In some cases the cost of spares and replacement parts can even make the investment in a tractor or other piece of farm equipment cost ineffective.

You shouldn’t necessarily be afraid of older farm machinery; although it probably won’t have some of the “frills” that you might find more common on newer equipment, it may have more commonly available and better value spare parts. Many dealers admit to the fact that often machinery owners do not take great care of their equipment. It’s more often than not the case that if previous owners haven’t needed to repair something on a piece of machinery then it hasn’t been repaired until absolutely necessary. Therefore, it’s not unreasonable to expect at least some form of minor fault post purchase.

Other things you should consider when buying online include location, location, location. What do I mean? Well, say you do have an issue once you’ve committed to at what at face value appeared a bargain used tractor. It could be an expensive and time-consuming process trying to resolve the problem with a dealer on the other side of the country. Even the initial purchase might involve unforeseen costs. Taking into account hidden costs such as fuel, travel time, hired help, trailer rental and the income you could have earned while staying at home, you may actually have found a better deal by buying locally.

That said if a used tractor walks like a bargain and quacks like a bargain, you can be reasonably sure it is a bargain. Don’t be too suspicious of equipment offered at a low price. Remember that used equipment dealers, especially those online, have lower overheads and expenses than manufacturer dealers that may account for the difference.

Many people don’t actually know a great deal when they see one. If you see a chance take it. So if you’ve done your used tractor research and know what used equipment you want and it’s value – if you think it’s a bargain then it’s probably worth buying it. Do though show appropriate diligence with regards to checking the machinery’s life history, legitimacy and mechanical qualities. Also make a point of checking the item’s paperwork, especially if someone who is not in the used-equipment business is selling it for appreciably less than its book value.

Used farm equipment is plentiful online. There’s a huge amount on the market and buying previously owned machinery could potentially save you a large amount of money. In short, purchasing used farming equipment and farming machinery online can be a bargain.

However all that glistens certainly isn’t gold and to save you the heartache, hassle and expense of a bad investment when it comes to buying farm equipment online (which could include using search terms such as used machinery, used equipment, farming equipment, farming machinery, used tractors and used trailers) there are a number of considerations it might be wise to bear in mind and some important tips you would be well advised to follow.

After exhaustive research, all that hunting online may have revealed to you what appears to be a great catch. You’ve just found a fabulous looking piece of farm machinery in an online auction or classified ad. Of course, you want it to do the job it’s intended for and so here are some top tips that will enable you to best know whether this piece farming equipment – a tractor for example is worth your time trouble and most importantly – your cash. In fact let’s use buying a used tractor by way of example.

1. What’s in a name?

There are familiar brand names that you’ve heard before and unfamiliar brands new to you. Whilst an unfamiliar brand won’t necessarily be poor quality or unreliable, decent quality brand-name equipment with an associated good quality reputation is certainly less likely to let you down.

2. More is less.

How many hours are on the clock? Is the tractor nearing a major service or has it just had one. What’s the life expectancy according to the clock?

3. One careful lady owner?

Has the tractor been half flogged to death in its previous life? Is the tractor approaching a time when it may need major repairs. Has it been treated with TLC or driven into the ground?

Unless you have plenty of time on your hands and you’re mechanically inclined, customized, heavily used or abused kit will usually end up costing you more than if you had paid more.

4. Play by the book

Book values and number of hours on the clock are your best indicators of value on newer equipment, both of which you should get from the dealer manufacturer. Ask for clear evidence of age and usage.

Remember though that a book price is just that – a price in a book. When considering the value of a specific piece of farm machinery give it a thorough going over.

5. There’s no fire without smoke.

Is excessive smoke appearing from the machine’s exhaust system? If so this may be an indication of a damaged engine and or oil leaks. Buying used farm machinery is no different to when buying a car. Check the engine and see if you hear knocks or see smoke. Check the bearings, examine the knuckles and joints for damage or indications of wear.

You may have to pay a small premium to get hold of it but clean, good-conditioned, low-hour used farming machinery will save you time and money in the long run.