Tractor finance is a type of loan designed to help businesses and individuals purchase a tractor without the need for upfront payment. Instead of paying the full price upfront, you take out a loan to buy the tractor and repay it over time with interest. This allows you to manage your cash flow better while still accessing the machinery you need for your farm or business.

When you apply for tractor finance, you choose the loan amount, term, and interest rate that suit your budget and business goals. The loan can be secured against the tractor itself, which means you may be able to access more competitive rates and better terms.

Tractor loans are structured in a similar way to other types of equipment loans. When you apply, you’ll negotiate the terms of your loan, including the interest rate, repayment period, and repayment frequency. The loan is typically secured against the tractor, which means that if you fail to meet your repayment terms, the lender can seize the tractor as collateral.

In simple terms, the process of obtaining tractor finance involves the following steps:

• Choose your tractor: You’ll decide on the make, model, and condition of the tractor you wish to purchase (new or used).

• Apply for financing: Submit your application for tractor finance with the required documentation.

• Approval and funds transfer: If your application is approved, the lender will transfer the loan amount directly to the seller or dealership of the tractor.

• Repay over time: Once the tractor is yours, you’ll begin repaying the loan according to the agreed terms.

You can finance a wide variety of tractors, from small compact models to larger, heavy-duty tractors used for large-scale operations. The types of tractors you can finance include:

• Compact Tractors: These are ideal for small farms and residential properties.

• Utility Tractors: Versatile machines designed for both light and heavy-duty tasks.

• Farm Tractors: Larger machines designed for extensive agricultural work, such as plowing, planting, and harvesting.

• Specialty Tractors: These include tractors for specific applications, such as vineyard tractors or tractors with specialized attachments.

Whether you’re purchasing a new tractor or used tractor, we can provide financing options that suit your needs. For more details on different types of equipment we finance, please visit our Tractor Finance page.

A tractor loan calculator helps you estimate your monthly repayments before you apply for finance. You simply enter the loan amount, interest rate, and loan term into the calculator, and it will calculate your repayment schedule.

By using our loan calculator, you can get an idea of what your monthly repayments will be. This can help you plan your budget and make more informed decisions when applying for finance. You can also use the calculator to compare different loan options and choose the one that suits your financial situation.

To apply for tractor finance, you will need to provide several documents to verify your identity and financial position. The required documentation includes:

• Proof of identity (driver’s license or passport).

• Business details, including your ABN/ACN if you're a business owner.

• Financial statements (profit and loss statements, tax returns, etc.).

• Quotes or invoices for the tractor you wish to purchase.

The exact documents required may vary depending on your lender. Once you submit your application and provide the necessary paperwork, your lender will assess your eligibility.

Yes, you can finance both new and used tractors. The terms for financing used tractors may differ slightly compared to new ones, as older tractors may be seen as higher risk. However, at Equifund, we offer financing options for both types of tractors, so you can choose the best one for your business.

Whether you’re looking for a second-hand tractor or a brand-new machine, our team can help you secure the right financing to suit your needs.

The best tractor loan rate depends on a number of factors, including your credit score, business performance, the loan amount, and the repayment period. While rates vary, Equifund Financial Group works with over 80+ lenders to offer you access to the most competitive rates in the market.

You can use our tractor loan calculator to get an estimate of the interest rates and repayment options available to you.

Yes, you can finance multiple pieces of equipment, including tractors, trailers, and other agricultural machinery, with a single loan. This is especially helpful if you're expanding your farm or purchasing multiple machines to streamline operations.

At Equifund, we offer flexible equipment finance that can be tailored to your specific needs. You can finance a variety of agricultural equipment under one loan agreement, simplifying the process and making it easier

When purchasing a tractor, you have the option to buy from a dealer or through a private sale. Each option has its advantages and implications for tractor finance:

• Dealer Sale: Buying from a dealer typically offers more security and warranties, with the added benefit of easy access to financing options. Dealers often have established relationships with lenders and may even offer special financing deals or promotions. Tractor finance through a dealer can be more straightforward, as they often handle the financing process directly.

• Private Sale: Purchasing from a private seller can sometimes mean a lower purchase price. However, financing a private sale can be more complicated. Many lenders prefer dealer sales because they come with guarantees, while financing a private sale might require additional paperwork or assessments to confirm the tractor's condition and value.

Regardless of whether you choose a dealer sale or a private sale, Equifund can help you secure the best tractor loan for your purchase. We work with multiple lenders to offer flexible options for both scenarios, ensuring you can get the equipment you need.

Applying for tractor finance with Equifund is easy and can be done in a few simple steps:

1. Fill out an application: Complete our online application form, providing your business and financial details.

2. Submit required documents: Provide the necessary documents, such as proof of identity, business details, and financial statements.

3. Get approval: Our team will review your application and find the best financing option for your needs.

4. Sign the loan agreement: Once approved, you’ll sign the loan agreement, and the funds will be transferred directly to the seller or dealership.

5. Repay your loan: You’ll begin making repayments according to the terms of the agreement.

For more information or to start your application, visit our Tractor Finance page.