Buying Used Farm Equipment: What to Look For and What to Consider
When planning to buy used farm equipment, there are many factors to consider. An informed purchase of used agriculture equipment can save you money as contrasted with a new purchase, however an ill-informed purchase can actually cost you more than a piece of new equipment over time.
That’s why our team of agriculture equipment and technology experts at Agriteer are here to help guide you through the process of what to look for and what to consider when you’re thinking about buying used farm machinery. Read on for our tips, or contact any of our locations to be personally guided by one of our friendly and knowledgeable Team Members.
BUYING FROM AN OFFICIAL DEALER VERSUS A PRIVATE SELLER
What’s your tolerance for risk? A lower sales price from a private seller can be tempting, but how can you be sure you’ll get a good return on your investment? Without an expert inspection, problems with the machinery of which neither you nor the seller are aware of, can go undetected. Until that is, the machinery breaks down. Over time, repairs to older machinery can inflate your cost of ownership to nearly that of new farming equipment.
Most dealers will recondition and do a multi-point inspection of the used equipment before it is advertised or placed on the lot as ready for sale. We follow this same methodology and on the occasion where we feel that it would be better to sell the used equipment without reconditioning, we of course will include ‘selling as is’ in the equipment listing description.
WHAT TO LOOK FOR AND CONSIDER WHEN BUYING USED MACHINERY
CONSIDER WHAT FEATURES YOU NEED MOST AND WILL ACTUALLY MAKE USE OF
When to avoid features you don’t need
Some equipment models offer an abundance of “bells and whistles” that can drive up the price and drive down the actual ROI of the machinery. When you’re buying new, it’s easier to be motivated to look for a simpler option to meet your budget. The same holds true for buying used equipment. Make sure you’re buying for the features you’ll actually use, not those which will only add to the price of the purchase, and potentially the maintenance costs.
When to embrace extra features
If you anticipate upgrading your equipment in a few years, or selling your equipment for any reason, the extra features on your machinery can be an asset in maintaining or enhancing its resale value.
Be open to competitive brands
Stay open to options from competitive brands whether buying used or new, even if a well-known brand is considered the gold standard. This is especially useful if the machine will be a lesser-used piece of equipment in your inventory. Just be sure you can find a relevant service center in your area. You may be able to lower your expenses for the same level of effectiveness by opting for a competitive brand.
Evaluate the age and relevancy of onboard electronics technology
Assess the age and relevancy of any electronics technology on the equipment. Is it still relevant and useable? You should not pay more for onboard technology that’s now obsolete or can’t be upgraded.
Ask for a detailed inspection
Ask for a detailed inspection of the equipment. Consider also asking for an oil sample, which can indicate problems with the transmission or engine.
When buying a used tractor, make sure it’s attachment-compatible
In addition to evaluating the condition of a used tractor, make sure it either comes with the attachments that will serve your needs, or, that compatible attachments that meet your needs are available to buy separately. A tractor without any attachments is as useful as a go-kart.
Look for the warning signs to walk away from
Engine is difficult to start
Smoking engine
Structural problems such as cracks in the equipment’s frame or plated areas
Corrosion that could lead to electrical problems or rusted bolt heads
MAKE SURE YOUR’RE PAYING FAIR MARKET VALUE
You can get two free equipment appraisals for the items you’re considering purchasing (or ae the trade-in value of your current machinery) on Agriculture.com’s website for tractors, combines, forage harvesters, balers, mower conditioners, skid steer loaders, sprayers, windrowers, and cotton pickers at https://www.agriculture.com/machinery/used-tractor-value. Be careful to closely compare hours, accessories, attachments, features etc., which may vary significantly and effect value considerably.
PLANNING FOR ROUTINE MAINTENANCE
Both new farm equipment and used machinery need a plan for routine maintenance. At Agriteer, our team of experts are fully equipped to support you in and out of the field. We have certified expert technicians in AGCO, Case IH, Gehl/Manitou, Kinze and many of our other equipment brands. You can count on us to keep your equipment operational and minimize your downtime. Visit our website to learn more about our service plans for farm equipment.
WE ARE HONORED TO SERVE YOU, NOW, AND IN THE FUTURE
For more than 80 years, we’ve served farmers throughout the mid-Atlantic region. We highly value the many long-term relationships which God has directed to us. We are committed to Godly stewardship of all of our resources and look forward to providing premium products and supportive services to each of our valued Customers, who entrust us with relationship.