For small farming businesses just starting out or even established ones, you need to find the best farm equipment leasing companies.

According to the Equipment Leasing Association, 8 out of 10 businesses in the USA choose to lease their equipment instead of purchasing it. One of the biggest perks of leasing is flexibility and maintenance coverage. You need to be mindful when you are in the market to invest heavy pieces of farm equipment such as bulldozers. This is because it is equipment that you will be using quite often and it is subject to wear and tear.

In such a case, you might consider to purchase it because it will most likely need to be replaced before your lease expires. Choosing an equipment leasing company that is suitable for you will depend on where you are located, the type of equipment that you need and the size of your company. There are many ways that you can determine which are the best farm equipment leasing companies.

Which Are The Best Farm Equipment Leasing Companies?

Here are some of the things that you should know about before choosing your farm equipment leasing company.

1. How Familiar Are They With The Equipment You Need?

When you take a loan from a bank, they do not really care which type of farm equipment you purchase. However, when it comes to leasing, you want to choose farm equipment leasing companies that are familiar with the type of equipment that you need. This way, they can help you choose equipment that is most suitable for your farm.

2. What Kind Of Support Do They Provide?

The service representatives have a lot to do with the reputation of the leasing company. Their approach is important because they will influence the decision to work with them or not. A leasing company that has representatives willing to consult with prospects and help them to choose the right equipment instead of just slapping them with a lease, is much more likely to convince a customer to work with them. The best farm equipment leasing company is the one that works with you to find the right solution.

3. What Payment Options Do They Offer?

Since you are in the farming business, the best company to work with is one that offers a skip lease. A skip lease allows you to skip payments during the low season without being penalized. The farming business is a seasonal business so you should not sign a lease with fixed monthly payments.

4. Can They Negotiate Prices?

There is nothing on a lease agreement that cannot be negotiated. Most credible leasing companies are willing to negotiate with prospects and come up with a solution that is beneficial to both parties. If a lessor is too rigid, consider going to another one.

5. Will They Cater For Maintenance And Repair?

Look for farm equipment companies that include repair and maintenance in their lease agreements. Ensure that you know who will fix the equipment if it breaks down. Will it be you or will they send over a representative to fix it for you?

6. Do They Have References?

Make sure you talk to people who have used the services of the companies you want to lease farm equipment from. This may sound like an obvious point but you would be surprised at the number of people who avoid asking for references . You should be especially weary of companies that boast of having a large number of satisfied clients but do not offer you any real references.

7. Are They Licensed?

This is another obvious point that most people fail to research on. Ensure that before you do business with any farm equipment leasing companies, the Better Business Bureau accredits them. You can even check with the Better Business Bureau if there are any complaints filed against them or any fishy statements. You will even have peace of mind knowing that you are dealing with a company that is legitimate once you find out it is accredited by a recognized licensing body.

Summary

When choosing the best farm equipment leasing companies, you have to consider if they are registered, what are their payment options, do they have references, who will cater for repair and maintenance, are they open to price negotiations, what kind of services do they provide and are they familiar with the type of farm equipment you need?

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