Should I buy a new tractor or used?
Purchase of agricultural equipment is often the main investment. For this reason, you want to get the best return for costs. As for tractors, there are many reasons to consider buying a well maintained tractor used than to go with a new one. At the same time, the new tractor can be in your best interest. Here are some considerations to help you decide which option is true for you.
One of the first points to be considered is the reality of the new tractor depreciation. As with cars and trucks, this new tractor will start to decrease at the time it is delivered on your farm. Even if it may not be a big problem, if you plan to keep the tractor for a short time, it may be the main concern if you hope that you will receive your investment by selling equipment in about six months. If this is your goal, then go with a quality tractor used. You will approach your investment and you may do a little more if you have done some improvement unit.
One of the great advantages of buying a new tractor is tax relief, which many nations allow for agricultural equipment. However, keep in mind that these tax benefits can only be available if agriculture is your primary profession or at least make up a significant amount of your total annual income. Before spending a lot of money on the new tractor, check the tax laws that apply in your area. If you are not entitled to significant tax deductions of new equipment, you would do well to buy a quality tractor used instead.
understanding how the tractor will be used is another important aspect. Do you have a small garden, maybe no more than five acres? If this is the case, you insert relatively small wear on the equipment; A good tractor used will cost less and will do it just as well. On the other hand, if you are a professional farmer with hundreds or thousands of acresTo cultivate and harvest you want to build something to endure and in the highest operating condition. In this scenario, he can pay you to get a new tractor that comes with a fixed guarantee and maintenance contract.
Fortunately, you have one more option to consider. It is possible to buy renovated and renewed tractors that are reliable brand brands. Such industrial giants as John Deere® and Farmall® are often good sources of new and renovated equipment. Check with local dealers about the availability of renovated units; They are often available at prices similar to used tractors, but have an additional advantage from a limited warranty and possibly even a limited service contract.