Key Questions to Ask When Ordering Farm Equipment

Economic projections for

As we wrap up , Wisconsin agriculture has seen its ups and downs. Fall crop prices were among the lowest in years, while interest rates and cash rent remained relatively high. Looking to , there are positive signs, such as a potential for modest reductions in input and interest costs. However, USDA projections for next year’s farm prices—$3.90 per bushel for corn and $10.00 per bushel for soybeans—fall below Wisconsin’s estimated break-even prices of $4.65 and $10.80 per bushel, respectively. Given this mixed outlook, most producers are being cautious about making significant changes and investments, including in machinery. Whether it’s a skid steer loader for a dairy operation, a tractor, or combine for row crops, machinery represents a major investment, and the annual costs to own and operate machinery impact a farm’s bottom line.

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When to consider buying or replacing farm equipment

Machinery ownership and operation expenses are significant. Several factors should drive the decision to purchase new equipment or replace existing equipment. For example, you may need to expand capacity with a larger planter or tractor to offset a lack of labor during activities like spring planting or hay harvest. Or, you may find that older, heavily used machines require frequent repairs due to years of wear.

Buying new equipment can seem attractive and even exciting, but high prices and elevated interest rates may make the investment less feasible. This is where buying quality used equipment becomes a practical alternative, because it provides the ability to cut costs while still meeting production needs.

Choose equipment that fits into your operation

When purchasing used machinery, it’s crucial to evaluate the functionality and requirements of equipment based on your farm’s needs. Whether you plan to expand your operation or replace a worn-out machine, understanding evaluation criteria like field capacity, intended use, and horsepower requirements is essential. For example, a small livestock farm may meet its needs with an 85 PTO horsepower tractor, while tilling and planting more acres per hour or doubling daily acres harvested will require more machine power. Ensuring the equipment is matched well with existing equipment can help avoid unnecessary costs.  Depending on your farm, you may also need to consider technology-based factors such as compatibility with existing precision agriculture components.

Understand and evaluate the costs

Economics plays a huge role in purchasing decisions. It is important to compare the cost of ownership with alternatives like hiring a custom operator or leasing equipment. Ownership provides convenience but requires an understanding of all costs.  It’s also worth noting that new equipment is usually covered by warranty for a significant time, an option less likely with used machinery. Preventative maintenance and understanding the machine’s condition can help mitigate unanticipated costs. Engaging with your local mechanic and service providers, reading and discussing maintenance schedules, and evaluating parts availability are critical steps to avoid a costly and frustrating surprise.

Buying used machinery usually provides upfront savings compared to buying new. High interest rates can make financing new machinery a challenge and add risk during uncertain times. Used machinery offers a lower initial cost, allowing farmers to conserve capital for other critical needs. An older machine that has been well-maintained per documented operators’ manual recommendations can hold much of its value throughout its functional life. Thoroughly assessing the condition of used equipment and budgeting for maintenance can make it the most prudent choice for many farmers.

Prioritize safety features for a better long-term investment

Safety should be another priority when purchasing used equipment. Farming is hazardous, with a high incidence of injuries linked to tractors and machines. Row crop, silage, and hay harvest machines can be particularly dangerous during operation and repair. Features like shields, lights, and markings (reflectors, SMV emblem) that comply with regulations and rollover protective structures (ROPS) are essential. Older tractors or other machines without these features may not be worth the risk. The presence of safety shields and other devices may also be an indicator of how well the last owner took care of their equipment. Always insist on getting an operator’s manual when purchasing used. Safety includes proper worker training, and the operators’ manual is the best source of crucial information.

Be cautious buying from online platforms and auctions

Buying used equipment requires research. Online platforms and auctions can sometimes provide opportunities but require caution. Never make a major equipment purchase sight unseen. If you are unsure, consider bringing an experienced mechanic or trusted advisor to inspect and help identify issues that might not be readily apparent. Researching a specific make and model’s weak points—either online or by talking to those with experience using the same machine—can also be invaluable. For example, some machine designs have known design issues that can lead to well-documented failures in drivetrains, engine components, or other systems. If purchasing from a distant seller, carefully investigate transportation costs and logistics.

Leveraging online and in-person social networks and local expertise is also a smart idea. Neighbors and other farmers can provide insights into which makes and models perform well under local terrains, soil conditions, or other local situations. Many farmers have experience buying used equipment and can offer advice on what to look out for and how to negotiate a fair price. Social media groups and forums dedicated to specific brands or types of equipment are also valuable resources for information and recommendations.

Conclusion

Considering the tight margins expected for , Wisconsin farmers must carefully weigh every financial decision. When a change is warranted, used machinery can stretch dollars while achieving operational goals. Whether expanding capacity, upgrading old equipment, or addressing an unmet labor need, used machinery offers a viable option, but you must carefully consider needs, evaluate equipment condition, and prioritize safety. As we face an uncertain year, these steps can help farmers adapt while keeping expenses in check.

What to do after you have purchased your farm equipment

So, you’ve finally broken down and decided that it’s time to buy new farm equipment. For many farmers, this can be a large ordeal, as you’ve more than likely grown to love your previous equipment and have gotten used to using it every day. Taking the step to buy new equipment is exciting, yet there are some questions you must ask before you do.

When you are in the market for new farming equipment, there are many options available for you to make your purchase. Maybe you want to buy brand new equipment, or maybe used farming equipment will suit your needs just fine.

Richmond Brothers Equipment offers both new and used farming equipment, including carts, mowers, tillers, blades, and more. We have options from a range of brands such as Art’s Way, Bush Hog, Degelman, Salford, Horsh, and more. If you are shopping for farm or agricultural equipment, reach out to our team of experts at Richmond Brothers Equipment today. We can help you find the farming equipment that’s just right for you. Read this week’s blog post for seven questions you should always ask your farm equipment dealer when purchasing new farming equipment.

1. Is This the Right Piece of Equipment for Me?

You know your farming needs better than anyone and finding the right equipment to suit those needs is critical to keep your operation functioning at maximum capacity. Keep these needs in mind when you head to the dealership and be sure to explain them to the equipment dealer. The dealer should be able to help you understand whether the piece of equipment you’re looking at is compatible with your goals.

Richmond Brothers Equipment has a team of experts that can help you determine what kind of farming equipment will work best for you. Stop by one of our dealerships today so we can help you find exactly what you need.

2. Can I Inspect Farm Equipment?

When purchasing new, expensive farming equipment, you should always make sure to inspect each piece before making a final decision. You can either inspect it yourself, or have a mechanic you trust go along with you. Before you head to the dealership, give them a call and double-check to make sure that they will allow you to inspect both new and used equipment before purchasing.

If they do allow inspections, you should conduct both a physical and functional inspection. Look to make sure that everything appears to be intact. Also, be sure to make sure the equipment starts up and runs smoothly.

If the dealership does not allow inspections, try to find this information online in the equipment listing. If there is no information, be weary of purchasing this piece of equipment, as it may be defective.

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Reach out to us at Richmond Brothers Equipment and start shopping for your next piece of farming equipment. We are happy to answer any questions you may have for us.

3. Is This Price Negotiable?

A very common question asked when making an expensive purchase is “is the price negotiable?” This is something you should definitely ask the farming equipment dealer so you can get the best deal possible.

There are a few things to consider before asking that question, though. First, conduct research on prices in the industry for similar pieces of equipment. Gather these prices and come up with a median price so you can properly negotiate with the seller if necessary. Sometimes at dealerships, the listed price is non-negotiable. Be sure to always do your research and find the best prices available.

At Richmond Brothers Equipment, we always aim to offer high-quality new and used farming equipment for a fair price. Contact our team today to learn more about our pricing for new and used farming and agricultural equipment.

4. Is Financing Available If Necessary?

We know that farm equipment — new and used — can be really pricey. If the equipment that you are looking at happens to fall outside your budget, ask whether the dealer has financing options available. Oftentimes, a lower monthly payment can be much more affordable for customers than a one-time lump sum.

5. Will There Be Any Additional Costs When Purchasing?

Purchasing farming equipment is already quite expensive as it is, but sometimes, there can be additional costs associated with purchase. When purchasing farming equipment at an auction, there are often buyer’s fees attached to the winning bid.

Depending on where you purchase your equipment from, be sure to ask about the final price you will need to pay to purchase the equipment.

At Richmond Brothers Equipment, we always strive to offer the fairest prices possible to each one of our customers. For any questions regarding pricing and additional fees, reach out to our experts today.

6. Does the Equipment Come With a Clear Title?

Whether you are purchasing new or used equipment, a clear title is a very important aspect. A title is a document that proves legal ownership of the farming machinery. Your title will help you ensure that the equipment is free of any liens, which may cost you significant amounts of money down the road. It also ensures that no one can contest your ownership of the equipment, since it provides legal proof that you are indeed the owner. Check with the seller to ensure you will always receive a clear title when purchasing your new equipment.

Reach out to us at Richmond Brothers Equipment for more information about titles for new and used farming equipment.

7. Can I See the Equipment’s Maintenance and Service Logs?

When buying used farming equipment, you should consider whether or not the equipment has been well-maintained. One way to do so is to ask the dealer for proof of maintenance and service through logs. Find out regular service and maintenance was kept up to date.

You should also ask what the previous purpose of the equipment was, as this may give you a better idea of whether it was gently or vigorously used and what kind of condition it may be in.

Why Choose Richmond Brothers?

Richmond Brothers Equipment offers a variety of agricultural and farming products and equipment. Whether you are shopping for new or used, we can help you find the equipment that will meet all of your needs.

We also offer farming and agricultural products including Ripper Points, shovels, and shank savers. Visit our website today to learn more about the brands and types of products and equipment we offer. Contact our team today with any questions or concerns. We are excited to work with you and help you find the equipment you need for your farm!