As many of you out there may already know, the buying of farm equipment is frequently a big investment and is why people wish to obtain the very best return on their costs. And when it comes to the likes of tractors, there are many reasons, just like when buying a car, to consider maybe purchasing a well looked after second hand one, instead of going all out for a new one.
At the very same time, the purchase of a brand new tractor may be in your best interests. Here are a few things to think about to assist you in deciding which option is ideal for you:
- The first thing to consider is the fact of new tractor depreciation and just like with cars and trucks, a new tractor will lose some of its value the moment it arrives at your doorstep.
- And while this may not be of a concern if you’re looking at keeping the tractor for only a short amount of time, it may be a big deal if you hope to recoup your investment by selling it in about six months.
- If that is your plan, then simply get a top grade used tractor. You will get nearer to recovering some of your investment and maybe making a little extra if you have made any improvements to it.
Check Current Tax Laws
One great benefit of purchasing Kioti tractors in Lincolnshire is their great service and the tax breaks that some countries allow for farming equipment. But, remember that those tax benefits might only apply if farming is your primary annual income. Before forking out a lot of money on a new tractor, check out present tax laws in the UK. Should you not qualify for significant tax deductions on a new tractor, you might do better to buy a good condition used one instead.
Fully comprehending just how you will be using your tractor is yet one more very important consideration. Think about:
- What size is the area that you will be employing it on?
- Do you have a small farm, a little more than five acres or so?
- If yes, you will be putting somewhat little wear and tear on it
- A used tractor in good condition will cost less and do just as well.
- If you are a professional farmer with hundreds or more of acres to cultivate and harvest, you will definitely need something that is built to last and in peak working condition.
- If this is the case, it will definitely pay you to purchase a new top quality tractor that has with it a sound warranty and maintenance contract.
Make sure to check with local dealers and see what they have to offer, and if the equipment you wish for is readily available for whenever you are in need of it. Happy farming!