Used Farm Equipment Financing
Finance used tractors, combines, sprayers, and implements. We work with dealer used inventory, private-party deals, and auction purchases. B/C credit OK. Get a.
Most of the best-running equipment on farms today is used. A four-year-old combine with 1,200 rotor hours and a clean service record is a working machine, and there is real value in buying that instead of a new one that costs half again as much. Used equipment financing lets you get into good iron at a price the operation can carry, whether you are buying from a dealer lot, a neighbor selling out, or a regional auction.
We arrange financing on used Tractors, Combines, self-propelled sprayers, Balers, and a wide range of pull-type implements. The process is the same whether the machine is two years old or twelve, as long as the collateral value is there and the title is clean.
What Used Equipment Qualifies
The most important factor is whether the machine has meaningful resale value. Lenders need to know that if the loan were to go sideways, the equipment could be sold at a price that covers the outstanding balance. That makes current auction data and private-party market prices the key inputs. A well-maintained used row-crop tractor with low hours holds value well. A high-hour machine in rough shape at an advanced age is a harder case, though not impossible depending on the ask price.
Age is less of a barrier than condition and hours. Machines from the late model years of the major brands, particularly those manufactured in the last eight to twelve years, generally have active secondary markets with strong pricing data. Older classics in mint condition can also qualify, though the lender pool for vintage equipment is narrower.
Title status matters too. A clean title with no existing liens (or a lien that will be paid off at purchase) is the standard expectation. Salvage-titled machines are generally not fundable. Equipment with a prior title brand for flood or fire damage warrants individual review.
Refinance Programs
Farm Application-Only Financing
Finance farm equipment up to $400,000 with just an application and recent bank activity. No Schedule F package, no CPA statements, no long.
Bad-Credit (B/C) Farm Equipment Financing
Equipment financing for farmers with challenged credit. We work with B and C credit situations, low scores, prior bankruptcies, and short.
Equipment Leasing
Farm equipment leasing keeps payments lower and lets you upgrade at end of term. We work with tractors, combines, sprayers, and more.
How the Financing Process Works on a Used Purchase
The process for a used equipment loan starts the same place as a new purchase: a short application and three months of bank statements. For deals under roughly $400,000 that is typically all we need on the borrower side. Then we pull together the equipment details, including the make, model, year, serial number, hours, and an agreed purchase price. The lender reviews the collateral against market data and comes back with an approval, a term, and a rate.
One difference with used purchases is that the advance rate, meaning how much of the purchase price the lender will fund, may be expressed as a percentage of appraised value rather than the agreed price. If you are buying a machine for less than its appraised value, that typically works in your favor. If you are paying more, the lender may fund a lower amount and require a larger down payment to close the gap.
For dealer purchases the seller handles title transfer directly with the lender. For private-party purchases there is a little more coordination around title transfer and lien release documentation, but we handle that process regularly and know how to move it along without delays.
Farm Refinance Questions
Yes, auction purchases are fundable. The main documentation difference is that auctions often require payment quickly, so we recommend getting pre-approved before bidding rather than starting the process after winning a lot. We can move fast once we have the equipment details.
There is no hard age cutoff, but older equipment presents collateral challenges. Lenders want to see an active resale market with current price data. Equipment more than 15 to 20 years old may require a larger down payment or have a shorter maximum term. We evaluate case by case.
We use auction market data from recent comparable sales, equipment guides, and dealer retail pricing where applicable. The lender forms their own view on collateral value and will advance based on that, not necessarily on the asking price.
Possibly. The lender values the machine in its current condition. If the repair is minor and the machine is otherwise solid, it may not significantly affect the advance. If the repair is substantial, the lender will factor it in. In some cases a repair escrow can be structured into the loan.
An inspection is not required by us, but it is always a good idea for your own protection on a used purchase. Some lenders may ask for a brief description of condition as part of their underwriting. Dealer-certified equipment typically comes with documentation that satisfies that need.
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Send the equipment list, payoff details, estimated values, and timing for a direct refinance review.
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