Finance Secrets for Farmers - Funding New Kit with Charles & Dean!

[@Rob-zx8lm]

Your discussions with Charles & Dean...very interesting.

[@aaronswanson6719]

Watching from the US with no ambition to run a business as large as yours but really appreciate the inside look you give into your operations and especially the finance. Most don’t wish to talk about it and leave it a mystery so your content is fascinating.

[@PX_Farms]

Thank you, I’m pleased it made it to the US

[@paullawrence3541]

James. I really like that you are prepared to share many of your costs and figures in his channel. It is rare. I am not really farming (hobby now) but it must be educational to many other farmers, especially the younger generation. Well done.

[@tynewydd100]

Thank you for sharing. I was an area manager for Highland Finance for ten years. You had a good chap sat in front of you. Not a huge change of what is on offer today or thirty years' ago. Brilliant.

[@aficio698]

So refreshing to hear an employer say he responds to unsuccessful job applications. Says something about the ethos of you and the business. Looking forward to the next instalment James. 💯

[@johncone9516]

James, as a non farmer or business person i found this episode very fascinating. Thank you.

[@NigelEdwards-o7n]

When doing a deal on changing farm machinery, my late father said “ all I’m interested in is how much money I need to part with”, advice I have always respected, what with discounts etc varying greatly on deals involving part exchanging the same piece of equipment .

[@davidfisher5507]

Very interesting to listen to the finance talk. Thank you for sharing it. Sadly at the moment i just haven't got the confidence in the returns agriculture can generate to warrant spending. Far better and quicker returns to be made elsewhere.

[@marcusmcsorley_1]

From the outside Tom seems a great asset for his Business and I’m sure he will be busier with PX Farms in the near future. A long overdue ribbing for “ Cousin Michael “ it’s a great way to end the video 👍

[@andycotterill9551]

Highland and Lombard Finance. They’re some good old names. We have recently come up against the 7 year maximum asset finance ceiling before going to alternative term loan options. Great episode James

[@ianbermingham9047]

There was a study done around the year 2020 showing that on 24 meter tramline spacings for all the tillage in Europe it worked out to be around 1.6 million hectares of land that isnt been used ,going to 48 meters would definitely reduce that total

[@MalcolmGreves]

Great piece James - as always, positive thinking and no negativity 👌

[@peterwilson-qj2ds]

Very interesting James , the world of finance can be a minefield if not properly explained. Another well presented video .

[@jchansen8311]

With the Bredal K-Series XE Tandem you don't necessarily need the wide tires. The tandem model does not shake the tractor like those without a tandem - great video !

[@simonspeedo8122]

Great video, some options by the looks for funding my J Deere 9RX 830..

[@thomasmacpherson5236]

Re your sprayer replacement policy James, you can guarantee In 5yrs time sprayer technology and application would have definitely changed. Eg target spraying of weeds to save you money for one , so a new sprayer is soon going to be out of date and the depreciation is going to be sky high again, quite a tricky problem to try to “out fox” short term lease hire would reduce the high depreciation risk. Very interesting finance video James like the previous one about the inheritance tax and budget implications last year, many thanks.

[@SimonPerry-cz4ke]

James look at Caterpillar with their re-build programmes and their way of controling markets and marketing, going back 80-90 years Caterpillar even ran slaughter houses to remove Horses and Mules that were being superceded by machinery. I have to say how interesting and informative your video is as usual.

[@PhilipMurphy-c2v]

James if we had a government who were as pro active, diligent , transparent , thoughful and mindful in running the country as you are in running your business then we would all wake to prosper. As it is our PM apparently felt that a voice coach would stand him in good stead on the world stage!!! He would be better advised should he take the opportunity to visit your open event and see how things can and should be done properly.

[@jr4ff3]

loving the PXd Barbour!

[@richardmatthews3304]

Anothet good video, coukd you buy one new sprayer and put 48mtr booms on the remaing 3 sprayers, that way you still have 4 sprayers to take advantage of weather windows and can change the older sprayers in turn every couple of years and always have one under warranty maybe doing the lions share of the work

[@chrislee2221]

Excellent update with a little look at modern agricultural finance. I think with so many lenders ( under writers ) and brokers in the marketplace it can only be a good thing. No 2 farms or contractors will be the same so personal tailoring to an individual business has to be key rather then the more traditional way of tailoring a business to fit the finance available. Interesting that your 4 sprayers have effectively been under valued or priced. Keep it up PX farms Ltd.

[@peterclarke3300]

Another great video James I forgot to say about the land drains do you jet them to make sure that there clear which you most probably do 👍👍

[@simonbaskett6992]

Great update, James. very interesting about the finance side of it, the dealers want lots for new and give you nothing for your old one 🙄, dont think you would get any agri dealer to give you a guarantee buy back 🤔. Waiting to see whether the colour changes with your sprayers, well done, keep up the great updates.

[@ASGundogs]

Our local JD does on one year old machines for one local farm. They have to change the weights and CB’s etc over every year 🤦🏻‍♂️🤣

[@michaelminers2612]

NH the same

[@littledavey2169]

PX FARMS VERY PROFESSIONAL FARMER'S UP THE FARMERS 💯. 🤙🦊

[@paullawrence3541]

Me again! Using finance is the only way a new entrant (tax avoidance millionaires excluded) is the only way in to farming (or other businesses in many cases). I was only able to go farming by using finance. It enabled me to start my own business and then diversify and create assets that are now paid for.

[@peterdennis9359]

Thanks James for another good video looking forward to seeing if you go to sprayer 48m and how it will work on your controlled wheelings

[@fredfenwick7047]

As far I understand it if the sprayers were at 48 meters boom width it would work out by driving down every 3 tramlines or so as controlled traffic farming is based on 12 meter spacings for things such as the combines, cultivators, drills ect..., James will no doubt explain this in more detail.

[@gunton21]

Another great video, interesting chat. 😊

[@mowerman60]

CNH,JOHN DEERE,AGCO and other big companies linked to agriculture are posting profits in the billions and tractors are still increasing in price. Govts are happy for the big conglomerates to keep hiking prices as it keeps control of food prices,by keeping farmers worldwide,working and in debt.

[@grahamkelland]

It's looking like tractor manufacturers have a monopoly in the market, and some of these brands could even be owned by the same people at the top of the tree!

[@SpudSlingsby]

Will you be increasing tank size by the same percentage as boom size, or will bowser backup take up the slack? It'd also be worth pricing up the difference to swap all 4 current sprayers for direct replcacements as a comparison. Will not having two trailed sprayers on tractors affect tractor justification, logistics or costings much? 48m will be less convenient matching ctf tracks from the hedgeback, at 36 its a doddle. Interesting conundrum

[@davidnorris6262]

Another very interesting video James, thank you for all the great content you give in your videos cheers.

[@jamescurtis-n1f]

James, as ever enjoyable and illuminating video, much appreciated variety of content covering "warts & all" (which applies to everyone but may not be discussed openly....). Thought occurred regarding tramlines/CTF, with your combines having about 50ft headers would it make sense to have a smaller (12ft ish size one) to run round before the big ones, cutting the field edge and tramlines only thus leaving "clear ground" for the big combines with lower moisture content/easy cut crop to deal with whilst the higher moisture/weed crop harvested by small combine is separately dressed/dried??? Cheers, James (Perth one)

[@jamescurtis-n1f]

on headland combining it could also be less expensive dealing with "unexpected crop" issues i.e. branches, fly tipping ......

[@richardbaker22]

Great video James

[@paullawrence3541]

High Street banks no longer seem to want to lend to farming (or other businesses) like they used to. Specialist lenders (often funded by pension funds, insurance companies, etc) are now the main source of finance for assets (which they lend against). Other than a bank account (mainly accounts in credit) the high street banks are no longer interested in lending money other than for a house mortgage.

[@martinkeneally4102]

I must say very good James

[@ephh3486]

Like with cars. The moment that your service started with “running a diagnostic” was the moment you could only buy kit with finance.

[@almaxx9680]

Looking forward to the weight in😂

[@dominicrobertson5885]

I liked Tom the finance broker. He talked the talk but you could tell he would walk the walk. Someone you could do business with🙂.

[@leddielive]

Couldn't leasing 3 self propelled sprayers with 48m booms over a 5 year period be an economical option?🤔 Some dealers offer great service & parts packages built-in to the leasing agreement. 😀 Food for thought James or just another conundrum to completely send you round the bend? 😉

[@petergardner2334]

i would like to see more ditching see the drains been cleaned

[@philhicks5818]

James , knowing how fast sprayer technology moves on , would it not pay to look at a 3 year lease program to keep the sprayers in the warranty window and to let the lease companies take the hit on the future value . I’m sure you already have though 😊

[@paulstinson4956]

great one very interesting

[@paullawrence3541]

How much would it cost to upgrade your existing machines to 48m sprayers? Could you replace one (oldest) machine with new and upgrade the others and then replace them gradually?

[@PX_Farms]

Not sure it’s possible but worth asking which I’ll do

[@paullawrence3541]

Your existing 36m booms will have a value to someone wanting to upgrade from 32/24m which may offset the additional cost.

[@DavidWilliams-d4i]

Can you put a gps unit on drain rods and track where your drains travel??? Is that a service someone offers maybe

[@grahamkelland]

Wouldn't work underground,but there are drain jetters that send out a signal.

[@julianhawker7672]

What about the old "cat/genny" cable ,pipe tracking device? I've seen them at sales for little money, I'm sure that some sort of drain rod set-up could be home brewed! Failing that would a air tag register from 3 foot down ?

[@tractortamno1]

Does it show how utterly ridiculous the price of new kit is that you now have to look at 7 year finance agreements to get it to pencil?? Surely at that stage unless you are getting a serious productivity increase then it’s not worth doing? The interest on 7 year agreements must be more than the repair costs on older machines?

[@gavinhodgson1728]

You are absolutely right, but unfortunately these days timing is so critical with everything that we cannot afford breakdowns, sometimes older gear fatigues and no one realises until it’s too late Maybe it’s an idea to have 2 older machines or implements it maybe cheaper than owning one new one

[@tynewydd100]

Still need an extra driver, difficult to find good operators, I am told.​@@gavinhodgson1728

[@JohnMcKay-p1f]

Just a bit concerned about the guy standing in the corner😂

[@michaellancaster1980]

James, i do Architectural work if you need any drawing up.

[@PX_Farms]

Thank you

[@davidjackson6510]

James - consider that if you go the whole hog now i.e. 3*48mtr then your replacement cycle will hit you for 3 replacements 5 or 6 years from now. If you decide to stagger 1 or 2 now and 1 next year or 2027, then your replacement cycle will be staggered that might help?

[@SpudSlingsby]

Not a bad idea. 20yrs ago we used to pay for frontline tractors over 3yrs and keep them 6yrs, so we were always paying for one but never two at the same time. That was the theory anyway!

[@SH66667]

Double edged sword/double whammy thats knackering many farmers and contracters especially. Needing longer terms to pay for machinery but losing too much value over that longer term to trade back in. Likes of agco JD etc will end up hiring all the kit rather than selling any.

[@AlanRobinson-b3w]

Are there any tickets left for the open cheers

[@PX_Farms]

Yes

[@JWBFarming]

Tom, what camera are you using to film the channel, seems better than the standard iphone most use?

[@PX_Farms]

Canon R5 - Tom

[@lvg1865]

You’re the control traffic specialist, But I don’t see how it will improve your system when you go 48m. It would work if you would drill on 16meter, header on 16m etc. On 12 meter, you get a extra wheeling on the headland, combine will have to do a half cut, the get back into the right wheeling etc

[@SamW7210]

I get what you mean I thought the same I think the only benefit would be less tramlines, in theory slightly more yield but the sprayers will also create an extra wheeling

[@neilpalframan4807]

Hi james as a ex farmers son i watch your videos with great intrest, with all the compaction issues of today i have not seen any of your machinery on floatation tyres ?

[@timgalley4391]

I wonder if Rachael from Accounts would have understood any of that?

[@wilfcottrell2669]

Are you all going to London on Monday the 10th ??

[@PX_Farms]

No

[@XLbullyZeus]

Tom Perkins I went to school with him

[@grahamkelland]

It's obvious as time goes on Uk farming isn't profitable enough to replace vital machinery when people are looking to finance items for 7 years plus. Only people gaining out of it is the finance people no wonder the finance man turns up in new Range Rover! One could change just one sprayer for possibly a 48 meter machine and get it paid off in 2-3 years then think about one of others. You won't find much milk in Cambridge got to come to Devon for that but have got plenty of honey!😂 Interesting talk on finance thank you James.

[@graemelaing1354]

Always live a PX video but I find it hard to believe C&D can get you a better deal than an OEM finance scheme from AGCO, CLAAS and probably Hoersch (unless they don’t do any)…… Good marketing for them though - make sure they disclose their commission to you!!

[@andrewriches506]

Get in there.

[@leddielive]

OK, I'm in there, now what?😂🤣😂

[@Greg-k4j]

Insurance is always a challenge, one might insure the contents of your house for say 50k but in the real world the contents are worth say 10k on gumtree.... tractors, sprayers etc are no different when it comes to resale... banks, brokers & fintechs are an established part of life.

[@seanphelan7236]

James I would love to know what you think about UN Agenda 2030 which is effecting agriculture so harshly.

[@theessexhunter1305]

James you have lost weight! Well done.

[@mertonflynn6227]

really great vid, excellent thank you mf

[@jonodixon2288]

Milk and Honey 😂

[@kevinharker1840]

Nothing is owned anymore, very sad, this bloke knows farming is fcuked and the plant side is booming.

[@wyndhamhewlett8223]

Yep I agree,, thousands of acres and not enough in the job to buy the machines!

[@paullawrence3541]

You clearly don’t understand how most businesses operate. Cash is used to expand and grow a business. Not to buy depreciating assets.

[@paullawrence3541]

James. I really like that you are prepared to share many of your costs and figures in his channel. It is rare. I am not really farming (hobby now) but it must be educational to many other farmers, especially the younger generation. Well done.