used equipment vs new

[denoginnizer]

When needing a piece of equipment how do you decide whether to buy new or to buy used? Any rules of thumb ? I really dont like to own equipment because I feel I loose money in 3 ways. First the equipment depreciates. Secondly, equipment must be maintanced. Finally, The money invested in equipment isnt earning any interest. Having said that , when I do see a way to justify buying equipment I have been buying mostly new equipment. Many of my farming friends scoff at this. I see them buying all used and I also see them spending a large amount of time and money working on the equipment , paying for labor to work on there equipment or wasting time searching for parts. I am not saying that my way is right I am just saying it has been working for me.

 

[Crowderfarms]

Nothing wrong with used equipment. You can save big $. Let someone else take the deppreciation beating. You come out ahead.Almost every piece of equipment we have has been bought used. Specially if you know where it came from and who the previous owner was.Around here if someone has an implement or Tractor for sale, you want to grab it because you hear or know the owner's reputation for maintainance. If it's someone who just used it and never took care of it you pass.

 

[Caustic Burno]

When needing a piece of equipment how do you decide whether to buy new or to buy used? Any rules of thumb ? I really dont like to own equipment because I feel I loose money in 3 ways. First the equipment depreciates. Secondly, equipment must be maintanced. Finally, The money invested in equipment isnt earning any interest. Having said that , when I do see a way to justify buying equipment I have been buying mostly new equipment. Many of my farming friends scoff at this. I see them buying all used and I also see them spending a large amount of time and money working on the equipment , paying for labor to work on there equipment or wasting time searching for parts. I am not saying that my way is right I am just saying it has been working for me.

When I do buy it's new and I use it till its completely wore out.
I like knowing the history on a piece of equipment, and not working on someone elses screw ups. If bought new I know how it was maintained and thats money in the bank. My 2 cents.

 

[Triple D]

Lest I know the equipments history I'd prefere to buy new. True, it depreciates, but that's a tax write off.

 

[ironpeddler]

Caustic Burno,
It all depends on the size of a person's operation. If down time just cost that person his own time and no one else's time, they can justifying having some more maintenance costs and purchase used equipment. If you have a larger operation and it involves other people and optimization of their time, then New will be the best. Also in small equipment that is used on small farms in the Eastern USA, this equipment will last a generation and not be worn out. Because it just does not get enough use on a small farm. Typically the smaller cow/calf operator purchases both new and used equipment and gets along fine.

 

[TheBullLady]

New works best if you don't have the time / knowledge / desire to spend working on everything that breaks. If you can afford new and afford supporting a dealership with warranty work, etc. then new is the way to go.

If you are "mechanically inclined" and you can readily get parts you need and have the equipment to FIX the machinery, then used is a good decision. It takes a lot of time, money and tools to fix used equipment. But if you know the value of used equipment and can judge it's usefulness by driving or operating it before you buy, then you can find some good used stuff that will probably last for as long as you need it to.

 

[Tennessee Cattleman]

Some things I buy new, such as main tractors & balers. It takes to much time & money to get these fixed. There is also the downtime problem that can really put you in a bind. Other equipment such as rakes, tedders & tillage equipment can sometimes be bought used at a reasonable price and are not usually difficult or expensive to repair. The size of your operation & what repairs can be done yourself should be a factor.

 

[Crowderfarms]

Some things I buy new, such as main tractors & balers. It takes to much time & money to get these fixed. There is also the downtime problem that can really put you in a bind. Other equipment such as rakes, tedders & tillage equipment can sometimes be bought used at a reasonable price and are not usually difficult or expensive to repair. The size of your operation & what repairs can be done yourself should be a factor.

Two Things that I would never buy used: Hay Rollers and Disk Mowers. We've gotten some great deals on used Plows, Discs, and other implements bought used. Some of that old Iron is hard to beat.

 

[jerry27150]

i buy used disc mowers, never had much problem. for the price of a used one if it goes bad, throw it in hedgerow & pick up another, most things are easy to fix anyway

 

[Crowderfarms]

i buy used disc mowers, never had much problem. for the price of a used one if it goes bad, throw it in hedgerow & pick up another, most things are easy to fix anyway

Jerry, You've been lucky.Everyone I know, including myself has had bad luck with used Disk Mowers.Plus they sell pretty high around here, even when just about "used" up.1500-2000 more will buy you a brand new one.

 

[ironpeddler]

Used disc mowers are a risk if do not know what to look for. I like the Shaft drive mowers like the Vermeer, Lely, & New Idea. They have less moving parts and you do not have to worry about the splitting the cutterbar to fix them. The shaft drive mowers actually take 20% LESS power to operate than the oil bath geared mowers. Many of the smaller operators have oped for drum mowers because they can be bought new for less than $2,500 and give the same mowing technology as the disc mowers.

 

[jerry27150]

gave $620 for the krone i have been using for the last three years,never have done a thing to it, but you know if you go to a sale to buy a certain item it will go higher than h---, but if you go & just see a deal you can pick it up, got a new holland 256 rake with dolly wheels the other day for $650, didn't need it, but will use it some time. may hook two together

 

[flaboy]

Used disc mowers are a risk if do not know what to look for. I like the Shaft drive mowers like the Vermeer, Lely, & New Idea. They have less moving parts and you do not have to worry about the splitting the cutterbar to fix them. The shaft drive mowers actually take 20% LESS power to operate than the oil bath geared mowers. Many of the smaller operators have oped for drum mowers because they can be bought new for less than $2,500 and give the same mowing technology as the disc mowers.

Hey peddler, what mower is this a picture of? Please send me a link where I can get more info on this. Thanks

 

[Crowderfarms]

That makes two of us, Ironpeddelr. I'd like some info. as well.

 

[flaboy]

Dang, I wish I could type as well as my mind thinks.. :shock:

 

[Crowderfarms]

Ironpeddler How's That?

 

[Dave]

I never buy equipment unless I use it a lot and I really try to avoid using equipment at all. I make money watching the cows graze the grass. Not by driving my tractor around. I found that the things I only use occasionaly I can hire it done cheaper than owning the equipment that sits around collecting dust most of the year. If I buy used it has to be less than half of new price and in good condition. I avoid the "project" equipment as it seem you are never done fixing it. If it is something you use a lot new is probably better because odds are it will be ready to go to work when you are.

Dave

 

[ironpeddler]

Go to http://www.ccmachinery.com/drum%20mowers.htm or hit my link on this post

 

[Brush Hog Girl]

I think that if you buy used,you should know who it came from,otherwise you can get ripped off.

 

[Chuck]

Brush Hog Girl What in blazes is that thing in your avatar?