Posts Tagged ‘tractors’
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.
Using 125 Massey Ferguson tractors to create the brand’s iconic triple triangle logo, this amazing display of MF machines was the brainchild of Ireland’s John Cusack.
John is a member of the Greybridge Classic Club in Meanus, Killmallock, Limerick and the stunt was organised as part of the Club’s Charity Day 2012. Formed by a group of vintage machinery enthusiasts in 2011, the Club runs events solely for charitable purposes.
Having driven tractors all his life, John’s idea was to mount a tribute to Massey Ferguson and at the same time raise money for local charities. “The project was 12 months in the making,” he explains. “We were keen to have every possible model of MF tractor represented which made it more complicated. We put out the word emphasising that we were particularly looking for rare or unusual models and were thrilled by the response. If we had simply focussed on gathering together a large number of MF tractors, we could have easily filled a 40-acre field! In the end, we chose 125 machines from those offered by farmers and contractors who wanted to take part. There was a full range of models from the MF 100 Series to the MF 8600 Series.”
John worked out the display plan to scale on paper and, using this as the map, the grass at the site was cut with a ride-on mower in order that each tractor could take up an exact position.
“We called it the Massey Ferguson Line-Out and so far have raised over EUR:16,000 for charity,” he adds. “We would love to raise more and so are making the photograph available for sale with all proceeds to charity.”
To order a copy of the picture, go to www.press22.ie
The Institute began educating agricultural students 100 years ago in 1912 and is now a modern Agricultural Upper Secondary School.
The tractors provided by Massey Ferguson will continue to be renewed over the years, helping students at the school which specialises in agriculture, horse keeping and outdoor pursuits.
Dr. John Varty, a professor who taught agriculture and environmental history courses through the MacMillan Center at Yale University, is setting out to chronicle how and why agriculture production has changed in Canada as farmers work to meet the demands of an increasing global population. As Varty travels across the country, driving a Massey Ferguson 1660 compact tractor, he will explore a variety of agriculture-related subjects, from the enduring family farm to the new generation of farmers to food production and land-use changes. The trip will be filmed, and the footage used to produce a documentary. Varty will depart June 30 from Atlantic Tractors and Equipment Ltd., the Massey Ferguson dealership in Charlottetown, Prince Edward Island, Canada.
“There have been a fair number of books and documentaries released in recent years that explore how food is produced,” explains Varty. “There are two poles of thought that much of this literature would have us believe. The first is the idea that our food is right on the edge of becoming nonexistent via corporate involvement. And, on the other end of that scale there seems to be this type of white-knight story, where someone is supposed to ride in and save us all. The truth of the matter is that the majority of farmers in Canada are still working out of a family unit, and I want to talk with these farmers to learn more about the challenges they face each day.”
Massey Ferguson, which is sponsoring the tractor ride, has a deep connection to Canadian agriculture, dating back more than 150 years. In 1847, Daniel Massey opened a small workshop to build farm implements in Newcastle, Ontario. Ever since then, Massey Ferguson has been a pioneer in the agriculture equipment industry, developing innovative equipment that farmers count on to help overcome the obstacles and challenges they encounter in the field. And, although a lot has changed in agriculture since 1847, one thing hasn’t: the tremendous pride the Massey Ferguson brand has in its Canadian heritage.
“What Dr. Varty is undertaking is truly a unique project in every sense of the word. Given our Canadian history, it made perfect sense to get involved with this effort,” says Rajesh Joshi, director of marketing at Massey Ferguson. “It’s not every day you hear about an individual who wants to hit the road to connect with farmers to better understand who they are, what they do and how they work. It’s just as much our responsibility as it is anyone else’s in agriculture to help consumers understand how and why the industry has evolved.”
During the tractor ride, Varty will visit more than 20 Massey Ferguson dealerships throughout Prince Edward Island, Nova Scotia, New Brunswick, Quebec and Ontario.
As Varty travels from town to town, he will make additional stops that coincide with local events, such as art festivals, music festivals, theater festivals and sporting events, among others. At each stop, farmers, food company officials, government representatives, community leaders and university professors will be invited to share their respective thoughts and ideas as they relate to food and food production in Canada.
“Our travels will include a hay wagon featuring a small cabin that replicates a 1950s’-style bungalow to provide us shelter and sleeping quarters,” says Varty. “I’ll conduct the majority of my interviews with people in a seating area on the wagon. While we’re going to invite people on board to share their thoughts and ideas, I also envision some creative uses for the wagon as well, such as inviting a local band to use it as a grandstand. I really don’t know what to expect until we depart from Charlottetown. That’s when all of the experiences, interviews and personal stories we’ll use in the documentary will truly begin.”
Additional amenities on the hay wagon include a freshwater tank and solar-generated electricity for lighting and laptop usage.
Varty’s interest in Canadian agricultural history extends beyond the classroom. He has numerous family members who have carried on the family’s five-generation farm in east-central Ontario. The tractor ride will wind through the back roads of Canada, reaching Leamington, Ontario, Canada, by the end of August.
Do you live in Canada? Are you interested in seeing Dr. Varty during his trip? Visit the website to see a full map of Dr. Varty’s stops, and plan your trip to visit Dr. Varty and the Massey Ferguson tractor. http://www.tractorcanada.com.