When You Need To Purchase New Farm Equipment

 by Rachel Schwartz

 As a farmer, I spend hours every day working the land so I can look forward to a rich harvest after a few months. I run my own farm and I have hundreds of employees who help me do this. Manpower is very important when you are a farm owner like me. Aside from this, equipment like trucks and tractors are also necessary in making daily operations possible. These equipment are important in hauling materials like wood, hay, tools and machineries.

Tractors have an additional function of tilling the soil in preparation for planting. Just like any equipment, trucks and tractors depreciate over time. When they are no longer safe to use, I know it is time to purchase replacements. The kind and brand of equipment that I am to buy largely depends on my budget. I would definitely choose only the best equipment, knowing that it will perform well and will depreciate after long years.

Although running a farm business brings in huge amounts of profits, it also entails a lot of costs. Not only do I have to pay for my employees' salaries; I have operating expenses, utilities expense and others. Although I have cash, as per my experience, it is not wise to use it for buying new equipment. I should have enough money in case there are emergencies. So whenever I have to make a purchase, I don't jump right into it.

There was a time that I needed a new truck. What I did first is research using the best tool out there - the internet. It was a surprise to discover that there are actually forums discussing about farm trucks for sale. I saw recommendations of pre-owned and brand new trucks. Since it has been years since my last purchase, other farmers provided me information on the latest trucks for heavy-duty tasks.

Once I had an idea on the truck I wanted, I sat down with my wife and we discussed if we could afford it. With careful planning, we decided to get a truck loan for this purchase. Like I said, although it is important equipment, it's not worth spending our savings on it. Because of my readings online, I learned that there are companies that specialize on truck loans. So I immediately narrowed down my choices to a few companies who offered the best deals.

I'm not really into buying on credit since I like a simpler way of life; therefore, I had no credit history. It's a good thing that the company who offered a truck loan is a bad credit loan company. This means that even with no credit history, I was approved in a short period of time - within 24 hours.
With the money I got from the loan, I was actually able to secure a brand new truck for my farm. I tested the engine and everything was working well. The company even threw in insurance and a few years of free maintenance services.

So to the farmers out there, I would say:

- Check to see if you need new equipment
- Research on the specific type you need
- Look into your budget whether you can afford pre-owned or brand new
- Look for a good way to finance it, most likely a loan
- Purchase your new equipment and make sure it's running well



Rachel Schwartz is the Marketing Manager of BHM Financial - one of the most trusted names in the bad credit loan industry. This company may be able to help you reach your financial goals. Please visit our Bad Credit Loan website or our Blog and find out today.

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