5 Tips for Maximizing the Value of Your Farm Equipment

By: TDS Author | Jun 27, 2014 10:00:00 AM

No matter how long you’ve been using your existing farm equipment, chances are you’ll need to exchange it for newer, more advanced machinery sooner or later. Proper maintenance combined with a little TLC can help you protect the resale value of your combines, tractors and more. Below you’ll find tips and advice that will allow you to fetch top dollar come trade in time.

Condition matters

Not surprisingly, farm equipment subjected to excess neglect and abuse won’t be worth nearly as much on the open market, as machinery in good or better condition will command a premium. Use hours, performing of routine inspections, maintenance and tune-ups – even paint condition can have a noticeable effect on a unit’s resale value.

Fix it first

If your equipment is in need of major repair, the cost to have it performed will be less than the drop in value your machine will experience if it is put up for sale as-is. Engine or transmissions issues, structural damage and corrosion are all major red flags most buyers will avoid without hesitation, leading to plenty of low-ball offers at best.

Keep a record

Make sure to hold on to all maintenance and repair documentation, and be able to identify and explain any work you’ve had done or performed yourself. It helps portray you as a careful owner and assures a potential buyer you’ve taken good care of your equipment.

The right attachments can have a big impact

If a machine isn’t outfitted properly, it may not meet the needs of a potential buyer. Depending on when and where you sell your equipment, the right additional equipment can make or break a sale – or at least impact the price someone is willing to pay for your unit. For example, a Mud Hog hydraulic rear-wheel drive system requires a minimum investment but can add considerable value to what was once a front-wheel drive combine, especially when you consider the high demand for equipment outfitted with four-wheel drive.

Keep it clean

The proper cleaning and storage of your equipment at the end of each season can have a surprisingly large effect on overall resale value. For winterization, engine oil should be clean to reduce internal corrosion, so make sure to perform oil changes before closing the door on your machines for the winter. Also, be sure and fill your fuel tank to minimize water accumulation, top off antifreeze and inflate tires to avoid sidewall damage.

A thorough cleaning to remove all grain and plant material can help prevent rust from forming and ensure rodents that can damage wiring components stay away. Finally, equipment should be stored indoors if possible, as research has shown units protected from the elements sell for a considerably higher amount.

About Mud Hog

The first and only technology of its kind, Mud Hog hydraulic rear-wheel drive systems are engineered to provide your front-wheel drive combines, cotton pickers and more with uncompromising four-wheel drive capability for increased agricultural production. By improving combine performance in all climate conditions – wet or dry – a Mud Hog can help you harvest faster, with less fuel, less compaction and less wear on your engine.

Sources: tractorlife.com, Virginia Cooperative Extension (Five Strategies for Extending Machinery Life)