Farm tractors are significant machinery for numerous agricultural tasks, including land preparation, crop planting, and material transportation. Yet for farmers, buying a tractor may be a significant investment, and the cost can differ significantly based on several things.
Most often, tractors are the most precious thing for farmers, allowing them to expand their acreage. In the 21st century, farming is impossible without a tractor. They are an essential and versatile component for various hauling and other heavy-duty tasks, whether you work on a large or small farm.
To better prepare you on what to expect to pay for this necessary piece of equipment, we will examine the variables that determine the cost of farm tractors, ranging from the size and horsepower to the features and brand.
Knowing the cost of tractors is essential for making an accurate purchase, whether you’re a small-scale farmer or run a significant agricultural enterprise.
How much does a Farm Tractor Cost?
The price of a farm tractor depends on various factors. However, on average, you should be prepared to spend between $45,000 and $200,000+ for a tractor with all the attachments you’ll most likely need.
For instance, tractors with 25 to 28 HP range between $4,000 and $18,000. Furthermore, a tractor with several features and a higher-end, more powerful engine may cost as much as $150,000.
Small tractors with no extra features between 50 and 75 HP could range from about $20,000 to $40,000. The price increases as you add more features, which may cost anywhere from $100,000 to $150,000—furthermore, costs for larger tractors with 100 horsepower range from $50,000 to $110,000 and up.
Additionally, some tractors cost more than $200,000. These are often machines with more than 150 horsepower. For instance, the John Deere 9630 4wWD tractor offers an electric mirror, deluxe comfort, and a bouncy seat.
Other features of a tractor that could heighten the price include its 800/70r38 duals, radar, front and rear HID lighting, and AM/FM radio. The cost of this variant might, however, reach $275,000.
For instance, a John Deere 8210 weighs more than 8 tons and has 185 HP—retail prices for this specific model range from $96,000 to $145,000. However, one of its most peculiar advantages is a radio in the tractor that lets the driver listen to music while driving.
The Best Tractor Brands in 2023
There are several peculiar brands when it comes to buying tractors. However, we will focus on the cheapest, most expensive, and several best sellers.
There are several top sellers for tractors. However, one of the best sellers is John Deere, the country’s top-selling brand of farm tractors. Many people, including farmers, homeowners, and professional landscapers, adore John Deere.
This brand is famous for both its dependability and quality. However, Mahindra is the brand of tractors that sells the most globally. They are peculiar for their top-notch customer service and for creating the most tractors globally.
A sub-compact tractor is the most affordable model. However, you might find a sub-compact tractor on Machinery Pete’s used tractor listings for as little as $8,000. Furthermore, any attachments needed will result in a pricing increase.
The starting price of a brand-new sub-compact tractor is approximately $15,000, give or take a few thousand dollars. Most often, this price depends on the particular configuration you choose.
The Case IH Steiger Quadtrac 620 is one of the priciest tractors you can buy. A 620-horsepower engine and an integrated HI-eSCR emissions technology on this tractor assure safe and fuel-efficient running. The luxury interior and four-point cab suspension are two more features that contribute to this machine’s $616,000 price tag.
Although there is only one other tractor like it in the world, no list of pricey tractors would be complete without mentioning Big Bud. Big Bud, the world’s largest tractor created in 1977, cost about $300,000. Even today, the tractor can still operate over an acre per minute at up to 8 mph.
Like buying a car, adding extra requirements raises the price of tractors. For instance, a loader attachment may cost $3,000 to $6,000, whereas a rake attachment may cost only a few hundred dollars.
An attachment for a backhoe may cost $6,000 or more. So, your budget should provide for any future maintenance that may be necessary. Other requirements include repairs, gas, battery charging, and oil changes.
Insurance on this farm amenity is also essential. For a $500 deductible policy, the tractor insurance can cost $3 per year for $1,000 in coverage. However, this cost can vary based on your unique situation.
Factors Affecting Tractor Prices in 2023
Certain factors significantly increase the total cost of a tractor. Some of the many factors that could affect a tractor’s price:
1. Technology Advancement
Thanks to technological advancements, tractors can become more productive and efficient, which might improve their value to farmers.
For instance, the advent of precision agricultural technology produces tractors with sophisticated navigation systems and GPS mapping, which may assist farmers in maximizing crop yields and minimizing waste.
The durability of this agricultural machinery can significantly impact its price. Tractors often have harsh working conditions and intensive usage built into their designs for lengthy periods.
A more durable tractor can typically operate dependably and endure longer than a less durable one, which can increase its value to farmers. In the long term, a more resilient tractor can cost farmers less money in maintenance and repairs.
Since they may use the tractor for a longer length of time without having to repair or replace it as frequently, farmers may find that a more costly, durable tractor is a better investment.
3. Modern Issues
Modern issues include the demand for extra food due to the large population. As a result, the producers design tractors to handle all farm tasks and aid farmers in producing more.
A tractor utilized only for farm work only covers a small part of the tractor market’s purchasers. As a result, the final cost also accounts for the costs of the resources, infrastructure, and labor involved in producing tractors.
Is Getting a New Tractor Worth It?
A new tractor is a worthy investment. Most often, it’s usually worth it when you invest in a new tractor that meets your needs for a period longer than six years. This investment is so you can deduct all or most of the buy price from your taxes within that period in most tax jurisdictions.
You must also consider the cost of buying a new tractor, such as finance and maintenance fees. A used tractor is your best option if the price of a new tractor puts an excessive strain on your budget or if your needs for a tractor change soon.
How much does a used tractor cost?
The prices of used tractors could range from $3,000 for the smallest tractor models and those under 40 horsepower to $75,000+ for an agricultural tractor with 100–174 horsepower.
Without a doubt, use hours, maintenance, horsepower, and attachments impact used tractor pricing. Furthermore, the location of the used tractor is another factor that affects the price.
As you can see, a tractor is a helpful and valuable farm equipment for all farmers. Thus, professionals manufacture a range of models at varied prices to make them accessible to all, from small residential models to powerful machinery.
Now that you know this, choosing the type of tractor that best suits your farm’s needs while purchasing within your budget seems easier.