If you need to get your hands on a tractor, a reaper, a cultivator, or any other type of agricultural equipment, but you don't have the cash available for it (or don't want to deplete your capital) it helps to have good credit and 2 or more years in business.
If you don't have both of those things, it's going to be harder and more expensive to procure financing. How much harder depends on your situation.
Special Note: To find out what your costs would be to finance equipment, click here...
Are you going to buy a tractor?
It's a pretty good bet you're considering a John Deere.
40%-67% of tractors purchased in the United States are made by Deere (depending on which study you look at).
If you know you're looking at a Deere, the next question is, "how much will the tractor cost?"
If you buy a 1982 model it might run you $13,000 while a brand new machine could cost all the way up to $250,000 or so.
The real question for many buyers -
What are the monthly payments versus how much income will be generated from your tractor?
Note: If you don't really feel like reading, that's totally cool. We can tell you how much your payments would be. Just click here or call us at (866) 631-9996.
Are you looking to buy a tractor?
You probably know you can save significant money when you finance or lease a used tractor.
In working with many farmers, we find that even though your payments going used might be slightly higher on a "dollar-for-dollar" basis, the payments buying a used tractor will be much lower than when you buy new.
Note: If you don't feel like reading, let's talk. Just click here to apply to finance or lease your tractor, or you may call (866) 631-9996.
If you are looking to purchase used farm equipment, you can save considerable money compared to the cost of buying new. Depending on the brand and type of farm equipment, many pieces of machinery are built to last for 30 years or more, but buying used can save you 50% or more, particularly if you are buying machinery that is 10 or more years old.
The actual financing rates for used farm equipment depend on a lot of factors, such as your time in business, your personal credit and the price of the equipment you're buying.