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Farm Machinery
Machinery
Tractor Purchase vs Hire
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<blockquote data-quote="T Hectares" data-source="post: 8004871" data-attributes="member: 2522"><p>I’ve hired before but I’m confident that purchasing is a much better option, a 240hp tractor that I’ve just traded in has worked out at around £11/hr to own and maintain which is much less than the hire would’ve been, this cost included the warranty which has given insurance against major repair bills</p><p></p><p>Other than being cheaper it’s the flexibility that appeals from owning, with hire there will be a penalty for exceeding the set hours and tyre wear, this particular tractor was very good and I decided to keep it a bit longer which has just cost the depreciation for the year, whereas with a hire i would’ve been paying out a new agreement that would’ve increased, the capital allowance has been useful too so I’ve purchased its replacement</p><p></p><p>Interestingly, despite the increase in the cost of the new tractor, the trade in value has balanced this out and the cost to change and annual hp payments are the same as the previous one 5 years ago</p></blockquote><p></p>
[QUOTE="T Hectares, post: 8004871, member: 2522"] I’ve hired before but I’m confident that purchasing is a much better option, a 240hp tractor that I’ve just traded in has worked out at around £11/hr to own and maintain which is much less than the hire would’ve been, this cost included the warranty which has given insurance against major repair bills Other than being cheaper it’s the flexibility that appeals from owning, with hire there will be a penalty for exceeding the set hours and tyre wear, this particular tractor was very good and I decided to keep it a bit longer which has just cost the depreciation for the year, whereas with a hire i would’ve been paying out a new agreement that would’ve increased, the capital allowance has been useful too so I’ve purchased its replacement Interestingly, despite the increase in the cost of the new tractor, the trade in value has balanced this out and the cost to change and annual hp payments are the same as the previous one 5 years ago [/QUOTE]
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Tractor Purchase vs Hire
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