Should You Buy New or Used Farm Equipment?

Over time, the requirements on your farm can change and require that you add more machines to your fleet to accomplish your work. This will need you to decide whether to buy new or used equipment for your agricultural operation. Each type offers unique benefits, and you want to familiarize yourself with both to decide which one to choose. Don’t worry—we can help.

Perks of New Farm Equipment

Brand-new farm equipment features the latest designs and technological advancements. This makes them faster, safer, and more efficient than pre-owned models.

Typically, factory-fresh machines have their entire lifespan ahead of them. This makes them ideal for long-term projects, as you can continue to use them for years. They will come outfitted with brand-new parts and components, meaning you will spend less time on repairs and more time using your equipment to complete your work. New machines come with one or another factory warranty. This coverage helps you fix any factory defects or manufacturer errors without spending out of your pocket.

However, these advantages come with a high price tag, meaning you will require spending a hefty amount of money when buying new farm equipment.

Perks of Used Farm Equipment

The biggest benefit of buying used farm equipment is savings. Pre-owned machines are more affordable than brand-new models and usually enjoy a higher resale value. This is due to depreciation, which is a dip in the value of a machine soon after it leaves the dealership. This allows used buyers to save money and still get the equipment they need for their farms. If you sell your machinery after using it for a few years, you can recover money closer to what you initially paid.

As used agricultural machinery has been around for a long time, you probably already know how to operate it. Although it has new features and controls, the change will likely be less drastic. However, be cautious when buying used equipment. Shady private sellers can convince you to buy a poor-quality model for a higher price.

We hope this guide helps you determine whether to buy new or used farm equipment. If you have more questions or want to explore a few models in person before finalizing your decision, visit Holder & Sons Equipment. We proudly serve Durham, Raleigh, and Greensboro, NC, so stop by today.