financing a used tractor

/ financing a used tractor #1  

coryip

Member
Joined
Feb 26, 2004
Messages
31
Location
ny
Tractor
deere 4200 hst
I am shopping for a good compact, new or used. i understand most of the new tractors have some nice financing options but i have also found a few deals on some used CUTs and was wondering what options are available for financing a used tractor at a reasonable rate.
thanks
 
/ financing a used tractor #2  
Buying from a dealer? Ask them about their financing. Deere does reasonably well on used machines.
Private owner sale? Depending on how much you'll need to finance, a personal loan or home equity might be the way to go.
When I bought my older Deere 670, I tried the bank but they don't consider used tractors a good risk (my bank didn't, anyway). I ended up financing through the dealer.

As far as interest rates...they change pretty frequently so I wouldn't venture a guess.

Personal opinion...the Home Equity loan or line of credit. That's probably going to be the best interest rate and you can deduct the interest or at least part of it.
 

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