A question that many farmers ask themselves is ‘Should I buy used farm equipment?’. The answer to that really depends on the item of farm equipment in question, whether that’s a cutter, tractor or mower, so there’s no easy answer that can be given here.
However, there are often many benefits of note to take advantage of by buying far equipment secondhand, including the opportunity to save money by avoiding the forces of depreciation, which is something that affects all items of equipment purchased new, as well as cars, which are a notable example. If you’re considering buying a tractor or another item of farm equipment and you’re not sure whether to buy new or used, the following points may prove food for thought.
The Item’s Condition
If an item of used farm equipment in Lincolnshire is in excellent condition and there’s a logbook or accompanying documentation that proves that it has been serviced and maintained in line with the manufacturer’s stipulations, then it should be a good investment. Naturally, this will depend on the price, so you should find out what it is worth new and determine whether the price is right.
To ascertain this, it would be a good idea to look at online advertisements and inspect at least two or three dealerships in the area to determine whether it represents good value for money. Nearly new farm equipment generally represents a good purchase, but as every item is different, you need to gain an understanding of average prices for used equipment and compare what’s on offer.
Your Knowledge
As with anything purchased secondhand, when you have a good idea of what to look for and can make accurate decisions about an item’s condition, the wear and tear it’s seen and what issues you can expect to be dealing with in the future, you can make confident decisions about the equipment that you purchase secondhand.
You may find that it’s necessary to have someone accompany you to view the item of equipment before you purchase it to make sure that it’s in a good condition and won’t require repairs or replacement parts in the near future.
Warranties
When buying used farm equipment from a dealership, make sure that they’re able to provide you with a competitive warranty that covers parts and service on the used equipment you’ve bought. While a warranty on a used item of equipment won’t be as long or as comprehensive as one for an item of farm equipment purchased new, it should cover the first few months of use. Check industry sources to find out what used equipment warranties are like so that you know what to look for.
As you can see from the points above, there are a few things to take into consideration when deciding whether to buy pre-used farm equipment either from a dealership or a private seller. These include the condition of the item, your knowledge and ability to decide whether it’s in a condition worth purchasing and the competitiveness of the warranty that you’re offered.