Farm Equipment Financing: Keeping farming profitable
Cut the cost of getting the best equipment for the jobSpeak to one of our experts020 4525 5312
- 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
Your farm or agricultural contracting business operates to tight margins. You need to watch every cost - but you must use the right equipment.
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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.
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. We have many funding solutions for the agriculture sector - from restructuring your farm to land purchase and finding the finance to diversify your farming business.
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.
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
Discover our range of finances
Every type of finance for every type of business
Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.
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 asset finance solutions are available for the agriculture sector?
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?
Your questions answered on funding for the agriculture sector, including how to use finance to match your cash flow
Are all lenders regulated by the Financial Conduct Authority?
Can my farming business finance a wide ranging selection of agricultural machinery?
The finance options agricultural businesses can benefit from when looking to purchase farm machinery, including Contract Hire, Leasing and Hire Purchase