Best place to get a loan for used tractor??

[fluffers]

Hello- looking to pick up a used tractor- would need around a $15K loan- where do you folks find the best place to get a tractor loan- Bank credit union etc- thank you

 

[LS Tractor Owner]

Credit union. Won't do anything with a bank anymore.

 

[WVH1977]

Farm Credit Bureau will finance you

 

[Handloader109]

Cash

 

[super55]

Definitely look into a farm type credit union. So much easier and typically better interest rates. Most banks have no idea of the price cost nor resale value of a used tractor so they are reluctant to lend $$.

 

[Vashophy]

For a used tractor, I’ve had better luck with local credit unions since their rates are usually kinder and they know the rural crowd. If you end up needing a bit of quick cash for the down payment or fees, something like Weekend Payday Loans | Get a Saturday or Sunday Loan Today can fill small gaps fast, though it won’t cover the whole tractor. I’d still start by chatting with a credit union loan officer to see what they can do.

 

[Hay Dude]

Farm Credit Bureau will finance you

Definitely look into a farm type credit union. So much easier and typically better interest rates. Most banks have no idea of the price cost nor resale value of a used tractor so they are reluctant to lend $$.

Some require you to be a farmer.