how or where to finance used tractor

[techwrtr2]

When we got the 855 used we financed it through JD. Wasn't a problem at the time though that was several years ago.

[Will_C]

Another vote for small local banks. My bank will lend money to me as long as I can repay it. I have not borrowed from them for years, but it is good knowing that I can talk to an officer, not just some loan clerk!!

Will

[bucktaker]

Finacing from John deere is no problem if purchasing new or used from the dealer.
I am negotiating with a private party for a <250 low hr jd wanting to keep my cash and equity line available I was going to finance 60% of the price.
I am expecting a call from my local bank branch on Monday to speak with the actual loan officer.

[Birdhunter1]

As everyone else has said find a different banker. The sad thing is this type of stuff right here is what kills a relationship with a bank you have been with for years yet a smaller local bank manages to survive because of relationships like this.

[sfloggie]

I find Farm Credit very kind and great to work with. There is one in each area of the U.S. I used them in Oklahoma to buy land and again in Virginia. They noted they would finance as we needed.

Colonial Farm Credit is in my area of Virginia. However, the Loan Officer in Virginia and Oklahoma could have been from the same family as they were very helpful and very professional.

[LehighValleyPA]

This might sound strange, but bear with me. I recently went to buy a used Deere CUT. A credit union loan officer said that a tractor loan would be an unsecured personal loan (tractors don't have titles in this state*) at a fairly high interest rate, so that wasn't a good option.

However, I had my car loan from this same credit union almost paid off. It turns out I could refinance the car loan, borrowing up to the book value of the car minus what I still owed on it. So, they hang onto the car title for three additional years; I keep making a car payment each month for about the same amount I have been; and we plan to keep that car indefinitely anyway so it should work out OK.

So one option is to use a car as collateral as opposed to the house.

* = In PA as far as I know, although I hear they might in NJ.