Used Farm Machinery Market Increasing in Popularity

Used Farm Equipment Market - Steady Growth Over the Last 10 Years

By Amanda Brodhagen, Farms.com

The used farm machinery market, most notably tractors, has seen a steady growth over the past decade. Used tractor values have gone up in recent years, which was especially apparent in 2012. Experts predict that the increased value for used tractors isn’t expected to stop anytime soon. For the used farm machinery market as a whole, it’s encouraging to see the value of used tractors grow over the past 10 years.

There are a number of factors that have contributed to the value increase in tractors. One factor is the price point on new farm machinery, especially tractors. Technology has played a pivotal role in the evolution of farm equipment and newer tractors tend to have the newest technology. Used farm equipment if well taken care of, can last forever and doesn’t lose value as quickly has other vehicles such as cars and trucks. While used farm equipment is still expensive, it’s often substantially less expensive than buying a brand new tractor.

There are several great places to look for used farm equipment including auctions, online and through various ads. If you are a farmer in Ontario you would be familiar with the very popular publication – AgBuyer’s Guide.