Buying and Selling Used Farm Equipment
It’s impossible to farm without the right equipment, and that equipment doesn’t come cheap. But there are alternatives to buying new, off the lot, at full retail price. There are bargains to be had. Like used cars, there is a healthy market for used farm machinery in USA. If you are looking to buy or sell, here are some basics you should know.
It’s impossible to farm without the right equipment, and that equipment doesn’t come cheap. But there are alternatives to buying new, off the lot, at full retail price. There are bargains to be had.
Like used cars, there is a healthy market for used farm machinery in USA. If you are looking to buy or sell, here are some basics you should know.
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High costs – Blocking the growth of the Farm and the Farmer
Many farmers across the US experience difficult scenarios when it comes to farm equipment year after
year. The economic liability of buying farm machinery is far too much due to the steep prices and
seasonal utility. As a result, the exorbitant machinery costs sway many potential farmers away from the
business altogether while for others it is difficult to analyze where to use their capital effectively for
their growth. For several farmers who invest in the big budget machinery, it becomes a burden and
blockage for growth due to its inefficiency resulting from its periodic limited use.
Farmease – Virtual Market Place for Farm Equipment Rental
To help farmers deal with the issue of expensive farm machinery as well as utilize their existing assets
for extra revenue, here comes Farmease, a unique marketplace where farmers can rent equipment they
need saving money or rent out their idle machinery during off-season and earn a few extra bucks.
Available also on your mobile, Farmease offers a dynamic platform to access and rent farm machinery or
optimize the use of a huge stock of previously dormant farm equipment.
Bridging the accessibility to Farm Equipment Gap
According to the FCA Economic Report, Office of Regulatory Policy, Agricultural and Economic Policy
Team 2016, Farm equipment is the second largest asset for a farmer after farm real estate. Considering
the structure of US Agriculture, the maximum inventory of total farm equipment resides in the large
farms with large volume of production. As per the 2012 Ag census of the US farms, the large farms
numbering nearly 110,000 form just 5% of the total 2.1 million farms in the US. However, the average
equipment inventory per farm for these large farms is a whopping $1.1 million in contrast to the mere
$63,000 for the other 2 million US farms. Among them are many farmers who own machinery but at the
same time suffer from low margins and seasonal cash flow. The data is clearly indicative of the huge gap
between farmers in the US who have access to the necessary farm equipment and those who do not.
Read about Farm Mechanisation in the USA
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