WHY YOU SHOULD FINANCE YOUR FARM MACHINERY?
Why You Should Finance Your Farm Machinery ? What are the benefits of Financing Your Farm Machinery?
When it comes to farming, having the right machinery is essential. However, buying that machinery outright can be a huge expense. That’s why many farmers choose to finance their farm machinery instead. Here are just a few of the benefits of financing your farm machinery.
- Lower monthly payments: One of the biggest advantages of financing your farm machinery is that it lowers your monthly payments. This allows you to free up some extra cash each month, which can be used for other business expenses.
- Flexible repayment options: When you finance your farm machinery, you’ll have several repayment options to choose from. This flexibility allows you to tailor your repayment plan to fit your unique needs and budget.
- Avoiding a Large Upfront Cost: One of the main benefits of financing your farm machinery is that it allows you to spread the cost of the purchase over time, rather than having to come up with a large sum of money all at once. This can be particularly helpful if you need to replace multiple pieces of machinery at the same time or if you’re otherwise tight on cash.
- Tax benefits: In many cases, the interest you pay on a loan for farm machinery can be tax-deductible. This can save you a significant amount of money come tax time.
- Preserve working capital: Perhaps one of the biggest benefits of financing your farm machinery is that it helps you preserve your working capital. When you finance, you won’t have to tie up all of your cash in one purchase. This leaves you with other working capital options, such as investing in more land or hiring additional staff.
- Get the equipment you need now: When you finance your farm machinery, you don’t have to wait until you have the cash on hand to make a purchase. This means that you can get the equipment you need now and start reaping the benefits right away.
- Being Able to Take Advantage of Special Offers and Promotions: Another benefit of financing your farm machinery is that it allows you to take advantage of any special offers or promotions that may be available. For example, many manufacturers offer low- interest financing for a limited time when you purchase a new piece of equipment. If you’re able to take advantage of one of these offers, it can save you a significant amount of money in the long run.
As you can see, there are a number of advantages to financing your farm machinery. If you’re thinking about making a purchase, explore your financing options so that you can find the best deal possible.
Contact Veracity Financial to get approval for your Caravan or Motorhome on 1300 721 258 or email us on enquiries@veracityfinancial.com.au
We can tailor a finance solution to your individual circumstances using our large panel of lenders who provide discounted rates specially for Asset finance.
