Central Ga | RCR - 1/6/2017 14:06
I heard that some farmers have been paying interest only for 3 years on operating notes.
As a young farmer, I am eager for these tougher times.
Picked me up a set of 1560 drills for 19500 loaded with si belts, hydraulic augers for each drill, monitor on every tube, good shape boots and disks. 3 years ago that rig would have brought 45k or more.
Looking at 120ft boom sprayers now....every day the farm economy doesnt pick up...there will be more and more deals.....except for land!
FWIW I would take the interest only for 3 years rumor with a grain of salt. Also, most importantly, be careful what you wish for. I fully understand that tougher times often present buying opportunities for equipment and sometimes land. Tougher times are usually hardest on younger farmers, especially if they are a typical young farmer with limited assets and equity.
Edited by DC4020 1/6/2017 14:45
|
operating loans
