Very rarely do farming operations require new equipment, but when they do, there are often two ways of obtaining that equipment.

The Saskatchewan Ministry of Agriculture's Production Economic Specialist Richard Gordon says farmers can either lease or purchase their equipment.

Gordon adds there are a few disadvantages to leasing compared to purchasing farm equipment including you don't own it and there are some conditions that you need to honour.

Gordon notes it is becoming more common to lease equipment because farmers can turn over the equipment sooner, and they see minimum monthly payouts.

Gordon adds,