In times of positive cash flow, producers have more financing freedom. Though it carries higher initial cash outlays, securing short-term financing can reduce term debt quicker and at a lower overall cost.
But when times are financially tight, and cash flow more restrictive, short-term financing – or outright cash purchases – can put a larger, more immediate financial strain on an operation. Sure, you’re paying less interest in the long run, but larger short-term financing payments can be enough to sink some operations. This is especially true when facing a continually challenging marketplace, as producers are today. Continue reading “The Ups & Downs of Restructuring Debt”
Planning for the successful inter-generational transfer of a farm ideally begins years before the process is required. Planning ahead ensures that when a farm family reaches the succession juncture, both predecessor and successor are positioned for a smooth transition.
Part of making that happen lies in assembling a team of people trained to take operations through the success process. It’s important to have the right stakeholders involved to make the difficult decisions involved with transitioning a family business. These are the men and women on whom the livelihood of the farm depends, and who typically have a vested interest in the operation’s success. Continue reading “How to Assemble the Right Farm Succession Team”
Staying top of mind for farmers in your territory while maintaining current client relationships can be a challenge—how do you stay relevant to a highly refined group of potential customers and make the most of your marketing dollars?
As a Tractor Zoom Preferred Partner, aglenders and insurance agents can reach an audience 100% aligned to agriculture—many of whom are close to making a purchasing decision at auction.
A Tractor Zoom Preferred Partner can connect with farmers searching for equipment in specific zip codes. Your brand and contact information is displayed alongside the farm machinery being searched for by buyers in your serviceable counties. The buyer will purchase equipment from any auction in the US, but they’re highly likely to finance and insure locally. Continue reading “Advertising for Ag Lenders and Insurers: Stay Visible to Local Farmers”
It’s no secret that buyers are using the internet to help make their purchasing decisions. Even if a buyer has plans to attend your live auction in person, chances are they’ve done their research ahead of time so that they’re ready to bid on a $150,000 used tractor.
With the advent of online bidding, auctioneers are seeing new bidders coming to them from all over the country, and even all over the world. Having clear, easy to digest information available to online shoppers is critical to making the next sale and maximizing returns.
With all the advances in technology it’s no surprise that the farm industry has developed a new design attachment for planters. Designed by Dawn Equipment this unit utilizes all the latest technologies. Dawn started as an innovator in residue management and no-till farming a couple decades ago and hasn’t stopped inventing new ideas. They have a wide range of equipment built to increase productivity but this latest project is their biggest release in awhile.
It’s a good idea to look up recently sold assets that closely resemble the machine that you’re looking to value. You can do this by looking at auction results for similar machines sold. Know that this can be influenced by your location, the agriculture market, and condition of your machine. How well was the auction publicized, and how many quality bidders were present?
Don’t simply look at “tractors for sale,” but look at what they actually sold for. Asking prices can be misleading as compared to what people are actually paying for them. You can do this on sites like Ebay. It’s a good start to see what a fair price is at tractor auctions.
You can look at websites like Craigslist to get a good idea at how asking prices are varying by location, but you need to keep in mind that these are asking prices, not what they actually sold for. You can take this information and balance it out with the values you see they are selling for.
Buying a used tractor can be a great way to add to your farm fleet, and you might be able to find a good deal at an auction. Depending on the age of the tractor, there are a few things you should take a look at in order to get a good idea of what kind of shape the tractor is in. If you do need another tractor then Tractor Zoom is an option.
Compact vs. Row Crop Tractor: Which Machine do You Need?
There are a few different things you will need to consider when assessing what size of tractor you need to efficiently run your farming operation. From the size of your farm to the terrain you’re farming, we’ll run through some of these considerations below.