The Cost of Owning Farm Equipment

Farm equipment is an integral part of modern agriculture. You need to have the right equipment on hand if you want to run a successful farm. However, modern farm equipment is also expensive. There are numerous extra costs to consider beyond just the sticker price when creating your equipment budget. This guide from Flieg’s Equipment has more information about the cost of owning farm equipment, which will hopefully allow you to make a more informed purchasing decision. 

Your Operation Type

The biggest factor that determines how much you can expect to spend on farm equipment is the size and scope of your operation. Smaller farms with only one or two crops often only need a few pieces of equipment. Bigger farms, on the other hand, often have multiple crop types to worry about and much larger fields to till, fertilize, sow, and harvest. Meeting these needs requires equipment that is larger and more complex, so bigger farms can expect to spend more on equipment. Of course, there are some exceptions to this rule. Farms that focus on raising livestock, for example, often only need a tractor and a few other pieces of equipment regardless of size. 

Financing Costs

The majority of farm equipment purchases involve some form of financing. If you do decide to utilize financing, try to make the biggest down payment you can reasonably afford. Not only will this mean paying less per month, but it may even get you better terms on your loan. 

Maintenance Costs

The best way to get as much as you can out of your farm equipment investment is through regular maintenance. Regular maintenance allows your farm equipment to perform better and last longer. The amount you spend on farm equipment maintenance depends on various factors. Some models are easier/cheaper to maintain than others. You can save money on maintenance by performing some of it yourself, though there are situations where it may be best to leave things to the professionals. Either way, you’ll need to spend money on parts if you want to keep your farm equipment running. 

Shop farm equipment at Flieg’s Equipment. Our dealerships in Leadington and Ste. Genevieve, Missouri offer convenient access to communities like Farmington and Park Hills, Missouri. We also have promotions, parts ordering, servicing, and financing.