Financing options?

[jwcinpk]

What financing options are available for new tractor purchases? Local bank is not one I would deal with as they will only go 54 months and at 12%. I know about agricredit as we used the free intrest they offered 2 years ago on the Mahindra we bought. Can you trade on tractors like you can on trucks? Once before I borrowed essiantally the amount they were going to allow me trade in at a real good interest rate. Here is where I am going with this. Was gonna try to sell the Mahindra and buy something different (finance it at a good rate and use the money from the sale to pay off a higher interest rate debt) but if I can't sell and decide to trade it in can I borrow pretty close to what the tractor I am buying is worth? I did something similar on a newer truck. Or are the dealers only going to be able to help me with financing on the difference between price and trade value?
If I could get hooked up with some good financing source I may be inclined to get the new sqaure baler I been wanting too. Or maybe a backhoe. Now I'm rambling!

 

[normde2001]

If you have good credit and equity in a home, I would apply for a home equity line of credit. You can get around a 6-7% line of credit and forever to pay it off. Only restriction, I think, is a promise not to invest the money. I got one here . I have no affiliation, other than as a borrower.

 

[wvmapler]

Check with the manufacture. Most manufactures have their own financing corp and run better rates than anywhere else. I just bought a Kubota and they had 2 to 3 years with 0% interest and in Nov, New holland was running about the same thing. /forums/images/graemlins/smile.gif

Even if they don't have 0%, their rates are probably 1/2 of anywhere else if you want to shop around and wait a couple of months.

 

[rk246]

I bought my tractor at 48 months for 3.99, they were running 2 yrs at 0, and 3 at 2.99.