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LEASE OR BUY?

Andy Mason will use a brand-new tractor this spring when he plants the 2,800 acres he farms with wife Delores and son Cody, but he won’t be buying it. With commodity prices half what they were just a few years ago, he can’t afford to buy the equipment and will lease it instead. “The payments are lower than normal, and I have 100 percent warranty coverage so I don’t have to worry about repairs or maintenance,” Mason said. Mason’s operation is among many nationwide that are shying away from large equipment purchases, as reported by the State Journal-Register.

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