Agricultural machinery and equipment is one of the high priced investments that you make in order to carry out your daily operations. It becomes easy to differentiate between branded machinery and equipment depending on their efficiency and reliability. A wise move for farmers is to make purchases 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: What Works When.
Usually buying is the best decision if:
You want the security of equipment you own.
When you opt for buying brand new equipment, 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 want to have the 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 it is clear that you don’t need the machinery more than one or two times?
You don’t want to take 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 don’t have the time to sell their old equipment. That’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 versus renting agricultural equipments will never end. It all depends on your budget and farming requirements. Buying makes you the owner of your machinery while renting ties you into a short term contract for weeks, days or months. Make a smart choice and have a sound sleep at night.