Agricultural machinery and equipment's is one of the high priced investments that you make in order to carry out the daily operations. Money is a huge source of income. Farmers try to save themselves from unexpected events i.e. flood, economic crisis, drought and so on. It becomes easy to differentiate between branded machinery and equipment's depending on their efficiency and reliability. A wise move for the farmers now a day is to make purchase of used farm machinery rather than buying new ones. Likewise, there are lots of farmers who opt for renting farm machinery in order to carry out their agricultural operations.
Buying v/s Renting
Usually buying is the best decision if:
You want the security of equipment you own: when you opt for buying the brand new equipment's, you get the direct ownership of the same.
You have a plan of keeping the equipment for years: when you want to buy the equipment on long term basis i.e. for four to five years, you should opt for loan to keep it stable.
You want to have ease of operation: It becomes convenient for you to carry out your agricultural operations on daily basis and you can also plan about future operations in detail.
You can regularly maintain the equipment in an efficient and effective manner. This helps you in saving a lot of time and money. It is always preferable to keep the equipment in up to date state.
Usually renting is the best option if:
You want machinery for one time or two time project: Why would you like to make an investment when youa€?re clear in the mind that you dona€?t need the machinery for more than one or two times?
You dona€?t want to take the charge of maintenance and regular service: Obviously while going for rental service, stores would be taking charge of up to date maintenance of equipment's and agricultural machinery.
You want to eliminate the downtime and capital investments for yourself.
Equipment disposal is another task you need not to be worried about. The rental company will take care of it on its own. At times, farmers dona€?t have the time to sell their old equipment's. Thata€?s where rental companies step into your shoes to come up with brilliant solutions of disposing the equipment's on time.
The discussion on buying v/s renting agricultural equipment's will never end. While some farmers opt for buying the first hand, strong and vibrant equipment's to carry out their tasks, others are opting for renting the equipment's to save themselves from downtime and installation costs. It all depends on your budget and farming requirements. I have listed the benefits of both of them to let you understand how the whole process works out. It is up to you to choose the best option for your agricultural task. My tips will surely save you some amount of time and money. Buying makes you the owner of your machinery while renting ties you into a short term contract for weeks, days or months for the use of machinery and equipment's. Make a smart choice and have a sound sleep at night.
