Farm Equipment Financing: Keeping farming profitable
Cut the cost of getting the best equipment for the job
Current Terms Available
- HP up to 60 months
- Balloon payment options
- No capital requirement
- Undercut "0% finance" deals from suppliers
- Choice of leasing arrangements
- Monthly, quarterly and annual payment schedules
- Suitable for all types of agricultural equipment
- No capital requirement
- Up to 100% funding
- Funds for any type of equipment
- Lease any type of assetRefinance existing assets
- Low rates – lending secured on assets themselves
Talk to Rangewell – the business finance expertsMany business lenders are wary of the agricultural sector. We know the entire lending market, and can help you find the lenders who can help and the most competitive rates for funding the equipment your farm depends on.
Your farm or agricultural contracting business operates to tight margins. You need to watch every cost - but you must use the right equipment.
Naturally, it can be tempting to try to get another season’s use out of tired equipment, but this can be a false economy. Older equipment will make you less productive, increase the risk of breakdowns – and mean safety issues that can lead to injury and liabilities.
Why traditional lending may not be the answer
New equipment, from tractors with full GPS positioning control to automated sprayers, can make a huge difference to your productivity. But purchasing heavy equipment from your capital simply isn’t an option for most farmers and would leave you at a disadvantage if you need funds for an emergency. Traditional loan obligations could hang over you and put your business at risk if a crop failure means a budget shortfall.
Most farmers find the solution in equipment financing and leasing. These Asset Finance solutions can be arranged around your budget, giving you the equipment you need and letting you spread the repayments.
Most agricultural equipment dealers will offer finance solutions, but getting funding from an independent finance provider can often mean getting the same equipment with big savings.
Funding may be available for:
- Grain carts
- Fertiliser sprayers
- Livestock feeders
- Milking equipment
It may be possible to arrange finance for existing equipment, allowing you to reduce outgoings on items currently under finance, or to raise funds for use elsewhere. Call us to discuss the possibilities of Asset Refinance for your agricultural business.
Hire Purchase or Leasing?
Both Hire Purchase and leasing can provide ways to finance the assets you need.
Hire Purchase is the simplest form of Asset Finance. With HP, you can pay for the equipment you want for the long term with fixed monthly repayments over up to 5 years, letting you manage your cash flow better.
Leasing arrangements can be more appropriate for equipment that you may want to upgrade in a few years time, or which is very high cost. With some leasing arrangements, you have the option to own your equipment outright at the end of the term, or simply return it and replace it with an updated model.
You can also decide whether you want maintenance and insurance to be included.
Asset finance for secondhand equipment
There are always opportunities to buy used agricultural equipment. Auctions, private sales and dealers can all offer bargains - but any equipment that can offer years of service can still command a high price, even if it is less than buying new. Asset finance can still provide a solution. Setting up HP or leasing for quality used equipment can mean reduced costs and can be simpler than you think.
Making existing payments easier
If you have an existing asset finance arrangement that means high repayments, or if you want to redirect cash elsewhere in your business, we may be able to help you refinance it. A new lender will pay off what you owe under your original agreement and set up a new finance arrangement.
This can cut repayments, spread them out over a longer term, or provide you with a cash lump sum as well as a new finance agreement.
Why you need Rangewell for Asset Finance
At Rangewell, we work across the entire lending industry, while our finance experts have personal experience in the needs of the agricultural sector.
We understand the financial circumstances you work under, and the additional challenges, like seasonal incomes streams, that you face.
We put this understanding to work for you. We know the lenders who share our understanding of farming and who can offer you the most competitive rates for the equipment and other assets you need, from a single tractor to an automated parlour and more.
REAL EXAMPLES OF WHAT WE CAN DO
Find the most competitive funding for a new combine harvester to allow a new contractor to set up
Help an established farmer lease a GPS equipped tractor
Source a lease arrangement to build grain silos
Find the most competitive finance to re-equip a neglected tenant farm
Help an established restaurant to install a robot milker, allowing a farmer to manage a 100 head herd single handed
Call us to get the equipment your farm needs
Coming to Rangewell means getting finance experts working to help you find you the most competitive funding for all your agricultural equipment needs.
That means cutting the cost of building and running your farming operation, letting you increase efficiency and more into new revenue streams.
To be sure you are getting the right Asset Funding solution for your farming operation, talk to our business funding experts.
Helping you build your profits
Cost-efficient fundingThe cost of your equipment can be spread over months or years, depending on your budget. You may not need a deposit, you retain liquidity and, with a lease, you avoid depreciation.
VersatilityAsset funding can be provided for virtually any piece of farm equipment, from sophisticated tractors and vehicles to static items, buildings and safety equipment.
Low fixed monthly paymentsLending is secured on the assets themselves, so interest costs and your monthly repayments can be reduced. Payments are usually fixed, allowing simpler cash flow management.
Using the most appropriate equipmentIf you need to set up for a new crop you can have the most appropriate equipment as you need it.
A single, predictable costLeasing and HP payments are predictable, and you can include maintenance as part of the agreement – ensuring all costs are provided for.
Secured financeUnlike other forms of finance, asset funding ensures that none of your other assets are at risk. If bad harvests or other downturns hit your business, the lender could recover their costs by taking the equipment.
Download Rangewell’s free and detailed guide to Financing Agricultural Equipment
What is asset finance
What are the types of asset finance
How to find the right provider
Are there downsides to asset finance?
How to arrange asset finance
What paperwork do you need?
Key terms explained
What is the difference between a Finance Lease and an Operating Lease?
How to harness the wide range of funding options available to the benefit of your agriculture business
Can I finance renewable energy schemes with Asset Finance?
Find out the most effective ways to spread the cost of your machinery and equipment - what is the right finance option depending on the type of farming equipment you purchase/lease
How to use different financing solutions to help with cash flow and working capital
What to expect from a leasing or Hire Purchase agreement
Key finance terms explained, including leasing period, subject to status, and short- and long-term solutions
What terms and conditions should I expect with agricultural finance?
Download your free resource on financing farming equipment
Your financial flexibility may be affectedOther lenders may view a long-term lease as debt. This could mean they may be less ready to advance other forms of finance.
The risk to your businessIf you are unable to keep up repayments on a hire purchase or lease agreement the lender could repossess your equipment, leaving your farm without the means to work.
Specialist funding may be essentialAt Rangewell we can help you find a lender who specialises in agriculture and can l understand your needs and offer the most competitive rate.
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