Tractors are widely used in farming, agricultural, and construction activities. They are used for various purposes, such as planting, plowing, tilling, spreading fertilizers, and landscaping, among other uses.
Today, there are several kinds of tractors available for purchase. How do you select the right one for your needs? Here some factors you should consider before making a purchase:
- Purpose
List down the various purposes for which you will primarily use the tractor. Then, shortlist the types of tractors that meets your needs the best and select the most suitable one.
- Power
A big-sized tractor is not necessarily more powerful. At the same time, tractors with low horsepower (HP) are used for tasks like lawn mowing; they cannot perform heavy farming activities. You also need to consider the Power Take-Off (PTO) horsepower; it serves as a measure of the tractor’s capability and comes in handy for using implements and attachments.
- Budget
Tractor types and prices vary according to their purpose. You must determine your financial position before searching for the best tractor. Today, leading financial institutions offer tractor loans that make it easier to purchase your desired equipment. However, you still need to repay the loan amount with interest; so, opt for a tractor that is within your budget.
- Servicing and maintenance
Choose a tractor that is easy and affordable to maintain. Additionally, ensure that a servicing center is available nearby so that any problems with your tractor can be resolved quickly.
- Resale value
No matter which tractor you buy, you will eventually need to sell it. When you opt for one manufactured by a reputed company, you can easily find a buyer for it. Moreover, you will be able to get a good resale value.
You may need to avail of tractor finance to buy the equipment. Many financial institutions in India offer such loans. You must spend some time to research the financing options available before making your decision.
Features of tractor loans
- Customized down payment to suit your financial situation
- Flexible repayment tenure between three months and five years
- Affordable tractor loan interest rates
- Minimal documentation enabling quick and hassle-free disbursal
- Loan availability for different kinds of tractors
- Worry-free loan approval without the need to mortgage your land
- Smooth tractor loan online procedure for faster approval
Tractors make it easier to work on farms, gardens, and lawns. Without this equipment, daily tasks become difficult and time-consuming. Financial institutions like Mahindra Finance offer these loans with various benefits. Check your tractor loan eligibility and purchase the equipment you need today!
