When it comes time to invest in a new tractor for your farm or agriculture business, you’re faced with an important decision – buy new or used? At first glance, a shiny new tractor may seem appealing. But experienced farmers know that buying used equipment comes with major perks. Below we’ll explore the top five reasons to save money and opt for a used tractor instead of the latest new model.
1. Used tractors cost thousands less
Without a doubt, the number one benefit of purchasing used tractors are the lower price point. Brand new agriculture tractors easily cost over $100k for mid-sized and large equipment. Even compact utility tractors run upwards of $20,000 new. That’s a huge investment, especially if financing is required which tacks on interest charges. By choosing an older, gently used tractor model instead, you can save tens of thousands. It’s not uncommon to spend 30-50% less for equipment that still has years of life left. For smaller family farms and independent operations, these savings make tractor ownership realistic where paying full retail may not be feasible.
2. Used models have a proven track record
In addition to being easier on your wallet, well-maintained used tractors also have a major advantage – their reliability has already been proven over years of use. Any major mechanical or design defects in that particular tractor model are already documented, as are solutions and problematic parts prone to failure. You can research meticulously to choose among only established, reliable equipment. Compare that to buying brand new, where even models from top brands can end up unexpectedly prone to issues once real-world testing commences.
3. They hold value better long-term
When buying new, tractors lose value immediately. The second you drive off the dealership lot, that shiny new piece of equipment has already taken a huge depreciation hit. But for used models, the rapid value loss experienced by new tractors has already occurred. This means used tractors tend to hold their value exceptionally well. If you ever decide to sell or upgrade down the line, used tractors have much stronger resale value. They depreciate more slowly thanks to greater longevity and the wider availability of DIY mechanical care options. New equipment only holds top value for the first couple years when under original warranty.
4. More freedom for customization
Do you want to upgrade your equipment with bigger tires, added lighting, protective accessories like a roll cage, or a new paint job featuring your farm’s logo? Customizing to your heart’s content is far easier when you start with a used tractor model. Making major modifications to newer equipment often voids factory warranties, so going the used route opens up creativity.
5. Better options for repair and maintenance
New tractors must be routinely serviced at certified dealers according to strict factory maintenance schedules, often at premium costs. But if you purchase a used tractor, you have greater flexibility in caring for your equipment. Independent mechanics can offer repair and maintenance services for used tractors at lower hourly rates.
For savvy farmers who are hands-on and comfortable tackling some tractor repairs themselves, used equipment makes that DIY wrench-turning possible without warranty concerns.
