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Purchase or Lease? THAT IS THE QUESTION WHEN SHOPPING FOR FARM AND RANCH EQUIPMENT. Story by Farm Credit Bank of Texas • FindFarmCredit.com
As winter turns to spring, you may be thinking about making improvements to your rural property or ag operation—improvements such as replacing old farm or ranch equipment, or acquiring that new machine you’ve always wanted. Before you go shopping for a shiny new tractor or pickup truck, consider two things—whether to buy new or used, and whether to finance or lease. It’s normal to want to purchase a brand-new machine. However, Farm Credit lenders—who finance everything from trucks and trailers to ATVs and hay balers— recommend that you assess the relevant criteria before closing the deal. What’s best for your neighbor might not be best for you.
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