Posts Tagged ‘farm equipment’
Want to stock up on parts or other equipment? Or pay for repairs or preventative maintenance to maximize uptime during planting, harvest or other critical times of the year? The new AGCO Plus+ financing solution allows customers to proactively manage their cash flow, providing convenient billing and a flexible payment plan that meets the needs of farmers.
Available through AGCO dealers, the new program features a speedy application process for customers, with approval often available in as little as five minutes. In addition to competitive rates on financing, special programs and offers may also be available to customers who purchase with their AGCO Plus+ account.
The new program continues its roll out through North America, so check with your local dealer for details. AGCO Plus+ is designed to help you access the genuine AGCO Parts, service and expertise you’ve come to expect from your dealer. It’s all about helping you work smarter.
A legacy of sustainability is evident from the talk around the table in their farm shop on a recent warm afternoon. Dave Ring, his son Brent, 38, and grandson Dylan, 8, laugh about a story in which the boy informed his grade-school teacher that he may have to come home soon to farm full time.
The reason? It seems his dad had accumulated some gray hair around his temples. Dylan took that as a sign that Brent would be retiring soon and his time to take over was at hand.
“Dylan is 8 going on 21,” laughs Dave, obviously proud of his grandson. Dave also feels confident the operation will be healthy when Dylan is indeed ready to take over.
The Rings farm more than 1,000 acres of corn, soybeans and wheat, milk 100-plus dairy cows and raise thousands of tom turkeys annually on a contract basis. They have always been proponents of good conservation. They seed cover crops in the fall, do minimal subsurface tillage, incorporate dairy manure and turkey litter in the soil, and buffer waterways.
“As for conservation, you have no choice in this part of the world,” says Dave. “We have rolling ground and you have to prepare the land to slow erosion. If we weren’t good stewards, there wouldn’t be anything left for my grandson.”
Dave is used to thinking about new generations. For 28 years, he was a high school business teacher, then vocational agriculture teacher and FFA leader. Now 68, he spent his younger days rising at 3 a.m. to milk cows and work the farm before heading off to his teaching job.
He thought the teaching would only be temporary—to help out the school district fill a sudden vacancy, then later to secure the agriculture program in danger of being cut for lack of an instructor. Turns out he was a natural. “I was starting to enjoy it,” Dave admits.
He is particularly proud of nearby Southridge High School’s FFA program, which had 15 members when he started teaching it and 160 when he retired in 2009.
Earlier this year, Dave Ring was recognized with the prestigious Master Farmer award from Indiana Prairie Farmer magazine. The nominees are considered for the honor based on the quality of their operation and community service. The awards were given this past spring at a banquet sponsored by the magazine and the Purdue Ag Alumni Association.
“The Rings have done a super job of being diversified,” says Kevin Lubbehusen of Blesch Bros. Equipment Co., Dave’s farm equipment dealer.
“You don’t often see someone of his age staying out front on the technology side,” says Kevin. “That ability to stay current, along with his years of experience and his reputation for being a straight shooter, make him someone people listen to.”
For 65 years, this rural burg on the eastern edge of the Great Prairie has been home to a brand that shares its name and is fertile ground for the development of game-changing agricultural machines.
During the Dust Bowl years, a “hill” on an otherwise flat stretch of the Great Prairie was often a piece of farm machinery buried by the era’s black blizzards of blowing topsoil, then deserted due to a hole in the social fabric called the Great Depression. Folks did what they could to survive, and a young Kansan named Lyle Yost helped make ends meet by scouring the countryside around his family’s farm for these mounds of dirt and steel.
“He was as young as 14,” says his daughter Susan, “and as soon as Dad learned how to drive, he would take the truck out into the countryside and look for [abandoned] farm equipment.” Yost, who passed away last year, would excavate what he found and bring it home, where he and his father would use it for spare parts or repair it for sale. “Not only did Dad learn how to build and rebuild [farm equipment], but he got acquainted with farmers,” Susan says. “He learned from them and found out what they needed. The idea of Hesston Corp. was planted when he was a teenager. I don’t think he knew the direction, but he knew that he had a calling, which was to help farmers.”
That direction became clear years later when he took on a problem that afflicted practically every farmer and harvester who owned a combine back in the day. Unloading just took too much time. Yost’s contemporaries used shovels and gravity to get the grain out of the bin, losing valuable time to get the grain up and out of harm’s way.
Yost, however, had an idea for a better way to move that grain, and after a particularly difficult harvest in 1947 and with memories of Dust Bowl storms still fresh, he and blacksmith Adin Holdeman went to work developing his unloading auger design. They made five of them in about a month, Susan recalls, and sent Yost’s cousin Earl Burner out to sell them. “He got back in 3 hours and said he needed 10 more.”
When they returned to the harvest the next summer using their new machine, others witnessed the speed at which the augers unloaded grain, and orders began arriving from as far as Texas and North Dakota. Buoyed by that success, the three men set up an assembly line near their homes in Hesston, and Hesston Manufacturing was born.
More than a half-century later, Yost’s focus on farmer-oriented solutions lives on today. Still located in the small, rural town where it all started, the Hesston facility has gone on to develop some of the most productive machines in agriculture, with the harvesting equipment made there now being sold worldwide.
Read the full story at http://www.myfarmlife.com/advantage/uncovering-the-hesston-story/.
What you don’t know could help you. Case in point: the option to lease farm equipment.
Not that there’s anything wrong with making a purchase, but a relatively small number of producers and custom operators are familiar with the benefits of a lease.
According to Clancey McCray, AGCO senior marketing specialist for high-horsepower tractors, programs and promotions, only about 10% of Massey Ferguson customers utilize the lease option. However, a lease may be a better fit for producers who want to preserve their capital resources, including credit, for other investments or prefer to trade in their equipment frequently.
“People who lease are generally those who want to have more capital available,” McCray says. “A lease allows you to use a piece of equipment without owning it. In essence, you’re only paying for the cost of use,” she adds, noting that leases are especially appealing to custom operators. “Of course, you don’t have any equity at the end of the lease period.”
That’s not to say a producer can’t have the best of both worlds—leasing a machine to try it out or acquire it when times are a little tight and then purchasing it later. “Most leases we offer are for a term of three years, but the customer always has the first option to buy,” McCray explains.
Leasing versus buying isn’t a decision you need to make by yourself, though. Consider the list of benefits below, then consult your tax adviser, talk to your Massey Ferguson dealer, and compare the offers from AGCO Finance. A little knowledge could go a long way to making you even more successful.
Consider a purchase if:
- You want the security of owning a physical asset like a combine or tractor, knowing that your payments result in direct ownership of collateral.
- You plan on keeping the machine for a few years (usually at least five).
- You keep your equipment well maintained, which helps retain its value and helps with resale or trade-in.
- The hours of use typically exceed the restrictions on a lease.
- You can benefit from tax credits that help offset the additional expenses of purchasing the tractor.
Consider a lease if:
- You want to preserve capital for other expenses or investments in your business.
- You have limited funds for a down payment or the higher payments a purchase would require.
- You like to trade often to benefit from the technology and efficiency available in new equipment.
- You plan to expand or reduce the size of your operation and need the flexibility to match equipment needs to farm size.
- You’re nearing retirement and don’t want to be locked into a large capital investment.
- You prefer to keep newer equipment in the fleet to reduce downtime.
Whether you purchase or lease, learn more about innovative Massey Ferguson equipment at myFarmLife.com.
The AGCO Parts Field Rewards program offers farmers in North America the opportunity to earn up to $500 in AGCO Parts cash with the purchase of any new AGCO Brand equipment from June 1, 2011, through July 31, 2011.
The AGCO Parts Cash can be used to buy genuine original equipment manufacturer (OEM) AGCO Parts. Farmers can count on the consistent OEM quality, dealer availability and competitive prices of authentic AGCO Parts all with a 12-month warranty. AGCO Parts has been recognized for its best-in-class parts quality by the North American Service-Parts Conference, a leading symposium for the service-parts divisions of prominent original equipment manufacturers in North America.
Farmers can utilize their AGCO Cash for preventative farm equipment maintenance as they prepare for the busy fall harvest season. With preventative maintenance, farmers are able to maximize farm equipment uptime and improve productivity.
In addition to earning AGCO Parts Cash when purchasing new farm equipment, farmers can also enroll their new equipment in the AGCO Parts preventative maintenance program called PM360, and receive additional offers to keep their equipment in top shape. For more on the PM360 program, visit www.agcopm360.com.
AGCO Cash is a certificate redeemable at participating North American AGCO Parts dealers. AGCO Parts Cash cannot be combined with any other promotions. One AGCO Cash certificate per transaction. One redemption per address during each redemption period. $500 AGCO Cash certificate requires the minimum purchase of $1,000 in AGCO Parts.
For more on the Field Rewards program, please contact your local AGCO Parts dealer or visit www.AGCOparts.com.
How will you use your AGCO Parts cash?