Financing Financing options for personal use

alia176 · Jan 31, 2014

arnoldziffel said:
About how much money are we talking?

Less than $25k

GManBart · Jan 31, 2014

alia176 said:
AgriCredit doesn't deal with individuals, only with dealers. Mahindra uses AgriCredit and I was trying to find a lower interest rate.

That isn't what their website says, and you can actually do the initial application steps online...hard to imagine that as an option if they only work with dealers. Still, their rates are a bit higher than others I've seen.

RKJeepXJ · Jan 31, 2014

I did AgriCredit through my dealer.

kcflhrc · Jan 31, 2014

Hard to beat John Deere's 0% for 60 months

bigbull338 · Jan 31, 2014

theres a few ways to finance a tractor.1 is your personal banker 2 in house dealer financing.3 ag credit.

alia176 · Jan 31, 2014

GManBart said:
That isn't what their website says, and you can actually do the initial application steps online...hard to imagine that as an option if they only work with dealers. Still, their rates are a bit higher than others I've seen.

I called them just to confirm and they only deal with dealers. Mahindra uses them too so interest rate isn't any different between them and Mahindra.

GManBart · Jan 31, 2014

alia176 said:
I called them just to confirm and they only deal with dealers. Mahindra uses them too so interest rate isn't any different between them and Mahindra.

Funny because they talk about "listening to you" and "developing personal solutions", etc, have a section for consumers, and an application link (that works)....wouldn't be the first time a website doesn't match up with reality!

alia176 · Jan 31, 2014

AgriCredit does have a decent used inventory though!

kenmac · Jan 31, 2014

alia176 said:
AgriCredit does have a decent used inventory though!

Probably repos. Someone bought a tractor that didn't have the $$ to buy a tractor & couldn't pay for it. The tractor is then repossessed . That's why it isn't a good idea to tie anything to your house. Most tractor manufactures , Mahindra ,JD, Kubota ,etc, will offer you a 0% interest rate. You still end up paying more for the tractor than you would if you paid cash

ldman · Jan 31, 2014

alia176 said:
What financing companies give tractors for personal use (vs ag use)?

I called AgDirect and they all only insure equipment for Ag use. Searching on "finance" produces too many hits!

I've been looking at Mahindra tractors.. They have 0% financing. If I buy that new 5530 with FEL and Backhoe, I will finance some of it.. as for used, I would pay cash.