A successful agricultural business requires dependable and efficient farm machinery. If you are expanding your farm productivity and require new agricultural equipment, you may consider opting for equipment financing in Abbotsford.
Fortunately, you can easily find financing companies and lenders who specialize in farm equipment finance and help you seal a profitable deal at the lowest interest rate possible.
What kind of farm equipment can be financed?
Depending on the type of farm you own, the equipment required can vary in size and cost. The appropriate amount of funding will enable you purchase practically any type of farming equipment you require, including:
- Tractors
- Harvesters
- Feeders
- Utility vehicles
- Greenhouse equipment
- Fencing and enclosures
- Sprayers and applicators
- Ventilation and lighting systems
Benefits of Financing Farm Equipment
Here are some of the reasons why more farmers are choosing to finance new and old farm equipment instead of purchasing it outright:
- Maintains the integrity of your fleet
The government provides financial incentives to the agricultural business, known as subsidies. These subsidies are based on agriculture commodity prices, which are known to fluctuate. We make sure that crop price fluctuations should not have an impact on your company’s ability to add higher grade equipment to its operations. This is especially significant when an old agricultural machine fails and you need to replace it fast.
- Adds modern equipment to your lineup
As technology and mechanical engineering advances, more advanced farming equipment becomes accessible on the market. Newer equipment can be more efficient, effective, and cost less to operate than the unit you are currently using on your farm.
A new machine can significantly increase the overall performance of your agricultural business and is well worth the investment. You may always benefit from new technology if you choose to finance your equipment. Obtain the necessary equipment without significantly reducing your working capital.
- Lowers your tax bill
Some of the farm equipment that you finance may be tax-deductible. We understand how hard farmers work, and you should be aware of the potential tax benefits associated with leasing and financing equipment.
- Saves money in the long run
Even if you have the funds to buy new agricultural equipment, it is preferable to save money and finance it instead. Farming can be unpredictable owing to weather patterns and shifting crop prices and you may face cash flow issues. Equipment financing allows you to free up funds to spend on other needs.
Finance Your Farm Equipment With Sandhu & Sran
Farm equipment, like any other product, is subject to market fluctuations. Before making a purchase, conduct some research on the current market and how it may affect the cost and availability of equipment.
Sandhu & Sran Leasing & Financing is your local equipment financing company in Abbotsford, having years of experience helping businesses expand through equipment financing. We can help you get approved quickly with the lowest down payment possible and affordable interest rate.
With a wide lender network, we have a variety of financing choice to choose from and can assist you in obtaining the right loan for your farm equipment. For more details, give us a call.
