Used Farm Equipment: Buy Now or Wait?

March 30, 2016 04:04 PM
Used Farm Equipment: Buy Now or Wait?

AgDay reports that as commodity prices soften, so have machinery prices. But will that trend continue? Tyne Morgan recently caught up with used farm equipment expert Greg Peterson, also known as Machinery Pete, to learn more.

Peterson’s primary takeaway? He says now may be the time to buy equipment.

“I think footing is the key word,” he says. “I started to see it early in 2015. We’d had a period of drop in used values, particularly in the late model, 1- to 5-year-olds. There comes a point when it drops enough that farmers are very savvy, and they pay attention, and they see opportunity.”

Machinery Pete shares additional insights with AgDay in the video below.

Want more video news? Watch it on AgDay.

One of the top questions Machinery Pete has gotten from farmers this year is, “Should I buy now, or should I wait,” he says. While it can be tempting to hold out for a better bargain, waiting isn’t always the best strategy, he says.

For farmers thinking of buying, watching the used equipment market is important. Peterson encourages them to visit to learn more about prices for the specific purchases they want to target for 2016.

Back to news



Spell Check

No comments have been posted to this News Article

Corn College TV Education Series


Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!


Market Data provided by
Brought to you by Beyer