Both are very good tractors. The 1240 has a 16x16 synchroshuttle where the 1433v has an 8x8. The 1240 is a shorter wheelbase and is 28.4 HP where the 1433v is 33 HP. One other note is in hydraulics where the 1433v has a flow of 7.7 GPM and the 1240 is at 6.4 GPM. Don't think that you would be unhappy with either model.