17 Best Tractor Financing Deals You Need to Know
Sometimes, the best way to get the tools you need is to spread the cost out over time. That’s where the best tractor financing deals come in. It’s like buying the tractor on a payment plan, making that dream project or business goal that much closer to reality.
Tractor financing options include loans, leases, and dealer-specific programs. Loans provide full ownership with monthly payments, while leasing offers lower upfront costs with flexible terms. Some manufacturers offer dealer financing with low rates and incentives. Credit scores, business history, and down payments impact terms.
Specialized lenders like AgDirect get the appeal of quick turnaround times. Their streamlined processes give you fast decisions and more time to actually operate your new machine.
Not a fan of strict bank requirements?
Private lenders often have more flexibility. Some, like Genesis Commercial Capital, might be a good choice if you have less-than-perfect credit, while others focus on the value of your existing assets or future revenue potential.
Some lenders, like Crest Capital, offer special financing packages for those just starting out. Don’t let a lack of business history hold you back from getting your dream tractor!
And finally, some lenders even finance other heavy equipment, not just tractors! Need a skid steer or backhoe? It’s always worth asking.
The best tractor financing options include low-rate loans from agriculture lenders, manufacturer financing with seasonal payment plans, and government-backed loans for low-interest rates. Ag lenders often provide tailored options, while manufacturer financing can offer discounts. Qualify by meeting credit, down payment, and revenue requirements.
| Best Overall | National Funding |
| Fastest | Crest Capital |
| Best for Startups | SBA Loans |
| Best for Leasing | CNH Industrial |
| Best for Bad Credit | Triton Capital |
| Most Flexible | John Deere |
Best Tractor Financing Companies
AgDirect Tractor Financing
If you’re looking for agriculture-related financing, you’ll have a higher chance of approval if you apply for a category-specific loan. AgDirect is a credit provider powered by Farm Credit, the largest borrower-owned financial services network for the American agriculture industry.
Because of AgDirect’s specialization, its application process is streamlined. You can submit your application in 10 minutes and can get a response in 3 business hours. The lender requires information about the farm equipment’s model, make, and seller.
Financing provided by AgDirect is made available directly via the vendor/seller, which lowers the loan risk. Because of that, the provider doesn’t have high standards for historical revenue. AgDirect does have very high minimum credit score requirements, though. It insists that all borrowers have a credit score of 660.
Small Business Administration (SBA) Loans
If your credit score is high enough to qualify for AgDirect tractor financing, you might also qualify for an SBA Loan. SBA requires a high credit score, strong business fundamentals, and solid, recurring revenue. Because most borrowers don’t have this trifecta, around 80% get rejected. But the ones who get their applications approved enjoy low-interest rates and long, relaxed return tenures.
SBA Loans are awarded to small business owners with over 620 credit score and an average of under $7.5 million in annual revenue for at least three years. Businesses that don’t have $100,000 in revenue might not get approved for an SBA Loan. The eligibility criteria, as well as lending partner preferences, imply that SBA loans for tractor financing can work for semi-successful agriculture businesses.
Balboa Capital
If you cannot meet Farm Credit and SBA requirements because you’re a newcomer or a fresh operator who doesn’t have enough of a financial history, then approaching a private funding provider might be your next best move.
When approaching such financing providers, you should pick ones that have specialized financial products to fund the equipment you want.
Balboa Capital has a dedicated page and application for easiest tractor financing. Aside from having a decent approval rate, Balboa also has a great standing (A+) with Better Business Bureau.
One of the reasons Balboa Capital works well for agricultural business owners is that it accepts hard collateral.
Farmers usually have valuable land that can act as hard collateral. Many capital providers focus on collateral-free lending, which comes at a high cost and with high credit standards.
Balboa, being a division of a bank, operates much like one.
Genesis Commercial Capital
Not every farmer wants to tie up their land to get a tractor. If you want to bypass traditional banking requirements like collateral, Genesis might be a great financing provider for you.
Genesis Capital prides itself in creating bespoke financing contracts that match the business revenue of the borrower.
For a tractor purchase under $250,000, you don’t need to provide financial history. That might make you think that Genesis Commercial Capital might have credit requirements.
On the contrary.
Genesis Capital regularly provides financing to business owners who have been rejected by banks. Your credit score will dictate the terms of your financing but will not be as much of a dealbreaker as it is for traditional credit providers.
Crestmont Capital
If you get a loan despite a low credit score, you might pay a double-digit APR. One way to avoid hidden expenses or unexpected rate hikes is to work with a capital provider that is known for its favorable lending terms. Crestmont Capital is trusted by hundreds of farmers and yellow iron operators for their equipment financing.
As long as you can prove that acquiring a tractor can increase your revenue, Crestmont Capital will help you get the equipment.
The interest rates start at 3.25% for secure applicants and can go up for higher-risk borrowers. You can buy a used or new tractor with Crestmont’s financing and can pay it off in 24 to 72 months.
Crest Capital
Aside from Crestmont Capital, you should consider Crest Capital, a similar-sounding and similarly convenient credit provider.
Crest Capital has a 4-hour credit decision window and accepts a broad range of credit scores. It finances tractor acquisition in any context where the borrower can prove that the equipment will be put to profitable use.
The credit provider’s website has a handy eligibility assessment that lets you know, almost instantly, whether you would or would not get tractor financing. Usually, applicants with less than 650 credit score get bad news.
Providence Capital
You’re much more likely to get the “good news” from Providence Capital, which has a 94.1% approval ratio.
The credit provider has a wide credit score window and allows prospective borrowers to get flexible financing with return tenures of up to 72 months.
You can also finance a part of your purchase and pay it off in a year!
American Capital Group
Some financing providers partner with specific brands/manufacturers to offer leasing/credit options for their buyers. Others choose certain brands because of security and quality reasons.
If you plan to get a John Deere tractor, you should consider ACG Capital as one of your financing options. American Capital Group provides financing for John Deere tractors, though it isn’t the exclusive leasing provider for the equipment maker.
The credit provider has a quick turnaround (48-hour approval) and competitive rates. Most importantly, it allows borrowers to apply entirely online without visiting any branches.
Halo Capital
When you try to get your tractor purchase finances traditionally, you’ll notice that many financing providers overlook your revenue and focus on your credit score. To some, making a big deal about your credit score can simply be a way to negotiate higher interest rates.
Halo Capital is a great option for low-credit-score borrowers who have businesses with high cash flow. The credit provider focuses on cash flow for its financing decisions. It also has a simple application process and a funding approval window of 24 hours.
Vision Bank
Not everyone needs a credit provider outside the banking system. If you have your finances in order and want to get a bank loan to fund your tractor purchase, Vision Bank is a great option. It provides financing for tractors, trucks, and wagons.
An advantage of working with Vision Bank as your financing partner is that you can build your credit and can use your line for future equipment, be it a farm vehicle or even cattle-milking machinery.
CAT Card
On the other extreme of a bank-financed tractor purchase is a tractor purchase funded by the tractor maker.
CAT Card is a financial product presented by Caterpillar, the yellow iron maker. Caterpillar makes heavy equipment, including tractors, and you can use its CAT Card as a sort of credit card.
There’s a very high chance of getting approved for financing with this option, as the risk is much lower for the seller of CAT’s stature. And repossession is always an option.
You can also finance repairs, parts purchases, etc., with a CAT card. It is a line of credit that you can use for all expenses CAT. Just like a bank credit relationship, the CAT card can be used for future purchases and equipment upgrades or trade-ins.
Trust Capital
Trust Capital has a suite of financing solutions for farmers and agricultural vehicle operators. Its tractor financing process is straightforward and requires an online application.
With Trust Capital, you can finance a tractor acquisition that costs up to $300,000 without providing financials or having a business history.
But that type of facility requires a high credit score. If you have an objectively “bad” credit score, then you can use Trust Capital’s partner financing solution.
A few of Trust Capital’s company-specific financing programs allow prospective borrowers to purchase tractors made by those companies. These programs have a high acceptance rate and are open to borrowers with bad credit.
Finally, you don’t have to pay any hidden fees, setup costs, or delivery charges, as Trust Capital’s financing covers all of it.
John Deere Tractor Financing
If you don’t want to interface with the credit provider and feel more comfortable dealing with the dealership, then you can choose an official John Deere dealer.
John Deere’s financing and leasing programs can be presented as an option for prospective buyers seeking credit solutions. So, make sure to inquire regarding your eligibility.
Kubota Financing
The beauty of capitalism is that when one brand offers a feature, the next strives to offer the same.
Kubota also has a seller-financing solution for customers who do not want to buy their tractors with cash. Kubota’s financing services are structured as Kubota Credit Corporation.
The tractor maker takes its financing seriously, so be prepared to present your financials or high credit score.
Kioti Financing
Kioti isn’t as fancy with its financing, and its credit deals look like standard installment offers ranging from subcompact tractors with incredibly low monthly payments to cashback on larger equipment.
Its financing offers page is worth checking out if you like Kioti machinery.
CNH Industrial Capital
CNHI Capital knows farming and construction gear. That means they get your tractor needs better than most lenders. They’ve got flexible loans and leases – find the perfect fit for your budget.
Want extra peace of mind?
Check out their Productivity Plus accounts. They combine financing with maintenance and repairs to keep your tractor field-ready.
CNHI Capital puts customers first.
They might be more flexible than your average bank or lender. Bottom line, they’re worth considering for your tractor financing.
Still, always compare rates – it’s the smart move.
Dealer-Financing / Seller-Financing
In seller financing, the seller “pays” for the entire purchase price, and the buyer pays installments to the seller. In smaller transactions, the seller and the buyer are the only two parties, but in larger ones, there is a financing partner.
In most seller-financed tractor purchases, your dealer will have a credit partner who will fund the purchase and demand installments from you. The approval decision, return tenure, and interest rates all depend on the specific credit provider that the dealership is partnered with.
