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Nw Iowa | What I have found with leasing is that best lease deals are in lean times, they usually come due in good times. So if your plan is to lease something, than look for a replacement it can put you in a spot. If you have something that you want to own and you understand all parts of your contract and are comfortable with buyout amount than they are okay depending on terms. Also cheapest lease up front usually has highest buy back at the end. Make sure you go into them with your eyes wide open. I have done two or three in my lifetime, all very good deals, but they were low cost per hr leases and buyout at end was high so we never purchased. We did a Agco one a number of years ago, had a 4 yr lease and warranty, we made sure we turned in tractor in a couple of weeks before warranty ran out. There was a inspection process and any seals leaking among other things was was your responsibility so important to have the full warranty to cover all that. There were some horror stories of guys having a 10000$ plus return fees. We had no problems, knew the rules, used up all the hrs but last 3 or 4 so we did not have warranty issues on return and had warranty the full time. Had the tractor been something we wanted the buyout would have worked, but not a deal. We had purchased a low hr replacement ahead of time about 4 months before lease ended at a very good price at a auction so for us whole deal pretty seamless. The other issue is make sure you use the hrs you pay for. If it a 600hr per year lease at 50$ a hr, than if you only put on 300 hrs, your cost per hr doubled. | |
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Late model equipment for sale?
