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Northern Indiana | There are many variables here. Leasing brand new equipment costs more than older equipment.
Have to figure everything on cost per acre. What you pay for equipment is really no matter as long as you can cash flow it and comfortable with the profit. May be you are a better marketer than a mechanic, for example.
Myself I would buy the equipment if I feel I had more residual value in the equipment than balance owed at the end of the land lease. I would also invest in technology that will tell me where I am making money and where I am not. This will separate the good from the bad pretty fast.
Hopefully it is a multi-year lease. | |
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renting equipment
