Farm equipment can be rather pricey. New tractors, mowers, and equipment price can add up rather quickly. When purchasing, the option to finance is a simple way to spread these high costs out over time. These are suppliers which offer reasonable financing terms to their customers.
1. ECF –
This site offers fixed financing interest and fixed pricing, so you always know what your monthly cost will be. Once rates are agreed upon there is no variation in terms, and customers never have to worry about interest rate fluctuations. Financing terms are custom tailored to each customer, the purchase total, and their personal credit checks run prior to agreed upon financing terms.
2. GEcapital.co.uk –
A well known lender, GEcapital also offers equipment financing for business owners. When purchasing large equipment, or spending a certain amount, customers will receive a fixed interest, fixed payment rate on their purchase. Machine equipment prices are extremely expensive, with fixed term financing you never have to wonder what your payments are, or worry about increasing rates.
3. Oaklease.co.uk –
With 20 years of equipment leasing experience, this lender offers various term options to borrowers who are purchasing farm equipment on finance. Customers simply have to fill out an online application, and will be contacted about their loan needs. Terms are personalized to the loan amount needed, interest rates and repayment terms are determined based on credit and personal income, and most loans are approved within less than 5 business days from when the application is filled out by the customer online.
Applying for farm equipment loans is something many consumers do when purchasing pricey equipment. Especially for business owners who spend quite a bit on new equipment regularly. For those who need a loan, or require financing when making these purchases, these are three companies to consider applying with and purchasing your farm equipment with.