Agricultural Equipment Financing Tips

Are you in the market for new agricultural equipment but don’t quite have the cash to purchase it outright? Don’t worry — financing is an option that an increasing number of farmers are using to get the equipment they need without breaking their budget. In this brief guide, we’ve put together everything you need to know about agricultural equipment financing. Read on to learn more!

Benefits

The main advantage of financing is that it allows you to acquire the machines you need without having to pay for them in full upfront. It also offers lower interest rates than other types of loans and can even include extended payment plans with no pre-payment penalties. This gives you greater flexibility when it comes time to pay off your loan. Many lenders specialize in agricultural loans and they tend to offer advice tailored specifically towards farmers — something that can help make sure that your loan meets your individual needs.

Where to Get Financing

There are several different places where you can get agricultural equipment financing. Your best bet is to start with banks and credit unions that specialize in agricultural loans. These institutions will be able to provide assistance based on their experience of working with farmers. You can also look into online lenders or peer-to-peer lending platforms.

With lower interest rates than other types of loans and flexible payment plans, agricultural equipment financing offers plenty of advantages. If you're planning to buy some equipment but don't quite have the funds yet, contact us at Bucklin Tractor & Implement. Our friendly staff will be happy to help you get the machines you need with the right financing plan. We have dealerships throughout Kansas, so get in touch with us at your nearest location today!