Busy operators have a lot to deal with on a daily and weekly basis. So staying across new machinery upgrades and releases can be challenging. But it can be worth taking the time to address as manufacturers are spending considerable R&D on developing more fuel and cost-efficient models to delivery improved productivity across the operation. Achieving optimum performance from investments in new machinery can be further enhanced when machinery is acquired with cheap equipment finance.
The selection of the latest machinery from leading manufacturers combined with sourcing equipment finance with better interest rates can be significant to achieving productivity and profitability gains across operations in many applications and industries.
We’ve checked in with some of the leading machinery suppliers for information on their latest releases to assist those seeking options to upgrade.
Latest from CASE
Back in June, CASE announced two additions to its Farmall tractor range – the JXM 55 and a 65hp model. This range was first launched locally in 2018 and its popularity and demand for the lower horsepower models, has led to these latest models being introduced to the range for Australia and New Zealand.
CASE spokesperson, Seamus McCarthy said these 65hp and 55 hp models would suit the market ideally. Mr McCarthy said they were well-suited to range of farming applications.
The new features are extensive and include:- a 4WD configuration; 2.9L 3 cylinder turbo-charged engines; transmission choices; hydraulic or mechanical shuttle; 60 litre fuel capacity; air filter to suit dusty operating conditions; ergonomic operator environment with wide-ranging instrument panel; and many others.
If a new CASAE tractor is on your must-have list, speak with us about cheaper tractor finance.
New Excavators from Komatsu
Those in the market for a new excavator may like to consider the latest from Komatsu. A new iMC 2.0 range has been launched with updates to the multi-GNSS antenna, bucket angle hold, monitor and attachment for auto tilt.
An acquisition of a new excavator may be eligible for tax benefits under temporary full expensing. Chattel Mortgage is considered best-suited for this accelerated asset depreciation measure and is also has the cheapest interest rate across the equipment finance selection. Use our finance calculator to work up repayment estimates prior to speaking with your Komatsu dealer.
John Deere Launch
Any launch from John Deere attracts attention and when it coincides with the company’s 50th anniversary, it is even more notable. In a release of 3 August, the company announced the launch of the 9500 Self-propelled Forage Harvester. An innovative machine that John Deere says will deliver more precision, power and the all-important productivity factor for Aussie farmers.
Stephanie Gersekowski from John Deere said it was just a part of the company’s redefined line-up of this type of harvester. The 9600 has also been reintroduced as part of this announcement along with a 9700 with a new level of horsepower and engine.
Ms Gersekowski said that the 8000 Series MY23 remains the same but with an increase in horsepower for the 8200 with its upgraded engine. She said that the 9500 is just one of three harvester models which offer increased power and increased throughout for 2023.
These new models – 9500, 9600, 9700, come with the HarvestMotion PLUS feature which synchronises the engine speed with the crop flow and the power needs. Check out the full release with all the additional features to decide if this may be a worthwhile investment for your farming operation.
Equipment Finance Update
After an extended period of historically low interest rates due to the RBA’s COVID-19 stimulus response, the scenario is now quite different. Inflation has been soaring for quite some months with the ABS recently reporting it had reached 6.1% The RBA response has been to raise the cash rate on four consecutive occasions – its Board meetings in May, June, July and August.
The official cash rate has risen from that record low of 0.1% to its current level of 1.85%. The next Board meeting of the RBA is scheduled for the first Tuesday in September and another rate rise is highly expected. In his August statement, Governor Philip Lowe said as much in saying further rate rises would be required as the Board normalises monetary policy.
Exactly how much that rate rise may be? We need to wait till that September meeting. While forecasts are for inflation to rise further to 7.75% this year, some positivity may be drawn from the recently released US inflation figures. These showed a decrease in the country’s inflation rate which is we must stress, currently much higher than the rate in Australia. But much of the inflationary pressures and decreases appear in the US especially to be coming from oil price fluctuations with little relief for prices and costs of living.
As is happening across all lending markets, the equipment finance is seeing rises in rates. Lenders respond to RBA decisions as well as relying on their own research and analysis. Some are actually raising their rate before official rate rises.
There are always variations across the market as banks and the non-bank lending sector make individual decisions on the rates they will apply to their different markets. This, combined with the rising rate scenario, highlight the need for businesses seeking cheaper equipment finance to utilise the services of a broker-style lender. Our services provide customers with access to a vast selection of lenders and enable us to continue to offer better interest rates across our portfolio.
For better interest rates on new machinery finance, contact Jade Equipment Finance on 1300 000 003 for a quote.
DISCLAIMER: IF MISINTERPRETATIONS, MISREPRESENTATION OR ERRORS EXIST IN THIS ARTICLE, NO LIABILITY IS ACCEPTED. THE INFORMATION IS PROVIDED ONLY FOR GENERAL PURPOSES AND NOT IN ANY MANNER INTENDED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADDITIONAL GUIDANCE OR ADVICE SHOULD REFER TO AN INDEPENDENT FINANCIAL ADVISOR.