The puttery, “flap flap” noise of a tractor gives all of us such a nostalgic feeling of our Australian farms. Who would not want to own a simple, plain yet whimsical, and powerful rumbling tractor? It becomes even more enticing when it comes to a shiny orange Kubota tractor.
This blog discusses 7 factors to consider before buying or renting your choice of a tractor. Furthermore, it highlights the benefits of buying a tractor vs renting it. Evaluate and decide if you have missed out on considering any benefit before renting:
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Farm size
Buying a Tractor
Buying a tractor for a small farm might be lucrative. You can go for making a purchase decision, given that you are not tight on money and the tractor is handy for you to work on some fun projects or for restoration.
For large to mid-sized farms, buying a tractor can be an option considering other factors mentioned below.
Renting a Tractor
If you are a new farm owner and are looking for the best tractor for agriculture but are unsure of the kind of tractor to go for, then it is best for you to test out different varieties of tractors by renting them.
Based on the suitability of your farmland and the nature of work, you can consider buying options later.
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Frequency of use
Buying a Tractor
If your farm requires the use of a tractor every season then we highly recommend buying one.
For instance, if you sell wheat, barley, oats, chickpeas, and the other kinds of crops every winter and follow it with selling hay every summer, then the tractor is worth an investment for you.
Renting a Tractor
On the other hand, if you are farming for perennial crops like fruit and nut crops or an orchard, then renting equipment, bartering tractor with a, or hiring someone to work on your farmland would be a good alternative.
This is because your tractor is not a seasonal need and these crops only need preparation of land once.
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Maintenance
Buying a Tractor
When you choose to buy a tractor, all the maintenance cost is on you. However, a brand new tractor requires maintenance only after certain kilometers, unlike an old rented one.
Renting a Tractor
If you want the responsibility to upkeep a tractor off your shoulders then you might want to consider renting options since it falls under the responsibility of an owner.
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Investment
Buying a Tractor
Would you buy a real estate property or rent it?
Well, a very similar thing goes here. A tractor is worth an investment. This is because some of these tractors are equipped with computer systems, state-of-the-art conveniences, and even air conditioning! The best part is that a new tractor is reliable and can be used for several years without causing any problem. A tractor like this for a small to the mid-size farm will run you about 18,000 to 25,000, approximately.
On the negative, buying a used tractor is sure to need replacements, fixtures, or even some updates. You can take tractors to repair shops, but the parts and labor can quickly outweigh the cost of the tractor.
Hence it would be worth considering something like the Kubota skid steers for sale.
You can also rent your tractor when not in use to earn additional income.
Renting a Tractor
Considering purchases of other farm equipment too? And stringent on a budget?
Then renting out would be the go-to option if you are considering a tractor.
However, you can consider purchasing a tractor and renting out additional attachments so as not to have to struggle with finding additional attachments for your tractor.
Because as we said, a tractor is worth an investment.
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Loan
Buying a Tractor
If you have funds readily available then it would be great. Else, obtaining a loan to get a piece of agriculture equipment is quite straightforward.
Renting a Tractor
The hassle of taking a loan to buy a tractor will be off your shoulders.
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Sale
Buying a Tractor
When we say tractors are worth an investment, it also means that you will be able to get returns on your investment when you decide to sell your tractor after a few years.
Renting a Tractor
If you have rented a tractor then the sale will not earn you any money.
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Availability
Buying a Tractor
Wide varieties of tractors along with their parts and attachments are available for sale. This means if you are choosing to buy a tractor, you can be assured to get it with the newest features and latest technology to not only aid your farming needs but with the scope to perform a variety of work with its additional attachments.
Renting a Tractor
Tractor rentals are the best place to look for availability or tractors of your choice.
Based on your goals, farming needs, affordability, and this information, you can now make the best choice to either buy or rent out a tractor for your farm!
