Should You Rent or Buy Farm Equipment?

While managing your farm, you may need to make various big decisions; one of them might be whether to rent or buy farm equipment. It can be challenging to make such a decision, which is why you may seek help. Read our guide to familiarize yourself with the perks you can enjoy by buying or renting farm machinery. And when you're ready to check out our collection, visit Holder & Sons Equipment in Durham, NC, where we happily welcome our friends from Raleigh and Greensboro.

The Perks of Renting Farm Equipment

Spend Less Money Upfront

One of the foremost benefits of renting farm machinery is that you get to enjoy lower payments. This perk can help you avoid spending a lot of money upfront while you still get the model you need. You can use the saved money on more urgent and necessary tasks on your farm.

Enjoy the Latest Features

If you want to speed up the work on your farm and enjoy benefits like better fuel efficiency and increased output, you’ll want to go with a model that’s only a year or two old. Your rental agency will most likely provide you with new units with the latest designs and extra safety features.

Test, Before Purchasing a Model

Purchasing a piece of farm equipment is a massive investment, which is why you may want to test it before you buy it. To make a more informed purchase decision, rent a piece of farm machinery and see how well it works for you. Maybe you’ll realize that it doesn’t suit your needs as well as you hoped, or you may discover it matches your requirements perfectly.

The Advantages of Buying Farm Equipment

You’re Likely to Use It Often

If you know you’re going to use the piece of equipment regularly, it will be more advantageous for you to buy it. Not only will this help you save money in the long run, but it will also save you the hassles of renting it over and over.

You Want Full Control

When you own a piece of equipment, you aren’t bound by leasing agreements. Also, you don’t have to worry about paying a fine for even a small ding or scratch. Additionally, you don’t have to speed up your work to return the rental equipment on time. These perks let you enjoy control of the machinery, and you can use it however you want.

You Want to Enjoy Flexibility

Sometimes, after you have rented a model, you may realize that it doesn’t suit your needs anymore. However, you’ll be stuck using it until the rent agreement ends. This takes away your chance to choose a model that better suits your needs. On the other hand, if you own a piece of equipment, you can sell it anytime you like and find something more suited to your needs.

We hope this guide helps you decide whether you’ll want to buy a piece of farm equipment or rent it instead. When exploring farm machinery for rent, visit Holder & Sons Equipment in Durham, NC. Our friendly staff can show you what’s available with us and suggest models for your budget. We proudly serve those from Raleigh and Greensboro, so stop by today.