Get Tractor Loan

A tractor requires a significant amount of money to purchase, so many people finance their purchase with a loan. In order to qualify for a loan to finance a tractor, potential borrowers will need to have a good credit score. A credit score is a number that represents an individual's creditworthiness.

The two most common tractor financing options are equipment loans and equipment leasing. An equipment loan provides a lump sum of money that you can use to cover the cost of a new or used tractor.

John Deere equipment, however, isn't cheap. Their smallest model lawn tractor, for instance, is about $1,500, and higher-line models can run as much as $12,000....Personal Loans. Repayment Terms24 – 144 months**24 – 84 monthsMinimum Credit Score660580View RatesView Rates3 more rows • Oct 3, 2022

What Credit Score is Needed to Finance a Tractor? The best tractor financing programs require credit scores over 680 but there are programs in the marketplace for most credit profiles. Often, tractors can be financed with FICO scores all the way down to 500 based on cash flow, collateral, or other factors.

, you can use SBA 7(a) and 504 loans for farm equipment purchases. Both types of loans can offer low interest rates, long repayment terms and a government guarantee from the SBA. SBA 7(a) loans are available in amounts up to $5 million with interest rates ranging from 10.25% to 12.75%.

4.9% APR fixed rate for 60 Months* Subject to approved credit on a Revolving Plan account, a service of John Deere Financial, f.s.b. For consumer use only.

John Deere Financial, f.s.b. is headquartered in Madison and is the 4th largest bank in the state of Wisconsin. It is also the 317th largest bank in the nation. It was established in 2000 and as of June of 2022, it had grown to 128 employees at 1 location.

Types of Ag Equipment Financing Purchase, lease and refinance options available on new and used ag equipment sold through farm equipment dealers — with 2-7 years (up to 10-year term on pivots)*.