Farmers are turning to equipment leasing instead of outright buying to help them keep up with technological developments. Text continues underneath image In 2013 a new combine could be purchased or leased at a sticker price of around $300,000 (Cdn). The move comes as land and equipment costs rise and farmers look to cash flow flexibility. Purchasing equipment outright can limit a farmer’s ability to adapt and respond to new technology and opportunities. The farmers also say buying equipment at the end of a lease could come at a lower price than brand new machinery. “Equipment leasing, in general, is not something that we do very often,” said John DeWitt, president of the Iowa Farm Bureau.
Farmers are turning to equipment leasing instead of outright buying to help them keep up with technological developments. The move comes as land and equipment costs rise and farmers look to cash flow flexibility. Purchasing equipment outright can limit a farmer’s ability to adapt and respond to new technology and opportunities. The farmers also say buying equipment at the end of a lease could come at a lower price than brand new machinery. “Equipment leasing, in general, is not something that we do very often,” said John DeWitt, president of the Iowa Farm Bureau.