Investing in Farm Equipment – Making the Right Choices Business by Terry Barker - May 8, 20170 When purchasing new or secondhand farm equipment for your agricultural business, it’s essential that you make the right choices about the equipment and accessories that you purchase. Not only are there often large sums of money involved but as some items of equipment deliver better value in terms of efficiency and performance, there are also these important considerations to consider as well. In this short article, we look at making the right choices about the equipment you purchase. New or Used? There are benefits to buying new as well as buying secondhand and as things aren’t always black and white, it’s important to consider each item of equipment that you need to decide whether it’s in your best interests whether to buy new equipment or used equipment for your business. Some of the many benefits to buying new Kioto tractors in Lincolnshire include: There’s no wear and tear They’re covered by warranties Their performance isn’t compromised by usage While these are excellent benefits to buying new, when you have access to used high-quality farm equipment that has been properly maintained, there are also many benefits of note to enjoy. These include: It’s often more cost-effective Many used items are still covered by warranties When you buy nearly new they still hold their value well As mentioned above, it isn’t as simple as saying new items always represent a better buy, or vice versa, so you must consider your options so as to decide whether buying new or used represents a better choice in that instance. After all, you can find used tractors and items of farm equipment that are in nearly new condition and these items are often remarkably cost-effective and will deliver many years’ outstanding service. Inspecting Used Equipment If you’re looking at buying used equipment, which can represent a great purchase, you really need to know what you’re looking for. That means if you’re not sure whether you can determine the condition of an item of farm equipment, you need to bring along someone who can. However, if you’re used to working with items of heavy equipment like tractors, then you need to focus on the following when inspecting any prospective purchases: The engine. This should be the first thing that you look at to decide whether it’s going to be a good buy or not. When you turn the engine over, check the smoke to ensure it’s clear and not black, inspect it to see how well maintained it is and also look for signs of leaks as well as wear and tear. The documentation. The seller must be able to provide you with all the required documentation for sale, which includes proof of ownership and the vehicle’s logbook which provides a history of its servicing and maintenance. When you know what you’re looking for, used equipment can represent great value for money. In conclusion, it’s essential that you make the right choices about the farm equipment you purchase. To do this, you need to consider whether it’s best to buy new or used and know what to look for when buying used equipment.