Tractors and construction machinery are financed in a similar way to trucks, but lenders often treat them as heavy machinery with their own deposit and period. Because machines earn their income through use, lenders may also ask how and where the machine will work.
What to expect
- Tractors and heavy machinery: the bank summary we hold shows, for example, 80% financing with a 20% deposit over up to 60 months at one bank, and up to 72 months at another.
- New machinery: one bank lists a lower deposit for new cars and machinery, and a lower deposit again for customers with a salary account.
- Used machinery: expect a higher deposit and a shorter period than for new machines.
Figures are indicative and change. See the full table on the financing page.