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Tractor Finance
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Written by James Dutton
James is Head of Asset Finance in our funding division. He specialises in arranging finance for assets across a range of sectors, as well as experience in completing finance agreements for assets coming from abroad. James has more than 30 years of experience in the finance sector, providing him with the necessary expertise to arrange finance for businesses requiring finance facilities across the UK.
Finance your tractor
A tractor is one of the hardest-working assets on any farm; and one of the most significant investments a farming business will make. Whether you're replacing an ageing machine, adding to your fleet ahead of a busy season, or stepping up to a higher capability model as your operation grows, finding the right finance deal is just as important as finding the right tractor for a UK agri-business.
Our dedicated agriculture finance team works with farmers across the UK to arrange tractor finance that fits the way farming works. That means understanding seasonal cash flow, talking to lenders who are comfortable with agricultural assets, and finding terms that don't put unnecessary pressure on your business during quieter months.
From hire purchase to finance leases and asset refinance, we'll help you identify the right structure and handle the conversation with lenders on your behalf. We can also arrange finance for a wide range of other new or used agricultural equipment, including combine harvesters, field sprayers, and woodchippers.
What is tractor finance?
Tractor finance can be a suitable solution for agricultural businesses looking to invest in essential machinery without the burden of a large upfront payment. Whether you're upgrading your equipment or expanding your operations, bespoke finance options can help make this investment more manageable.
At UK Business Finance, we can arrange agriculture finance solutions for the purchase of a new or used tractor, restructure existing finance agreements and provide you with flexible seasonal payments options to suit a range of farms and agri-businesses.
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With full market access and absolutely no ties to any lender, we can objectively match you with the most effective and cost-efficient source of business finance. Contact our team today!
Benefits of tractor finance
Management of cash flow: Using a finance solution to purchase a new tractor instead of buying it out right can have multiple cash flow benefits. Rather than using business capital to pay for the assets full value upfront, various finance solutions allow you to spread the cost of purchase out over a pre-determined period, where you will make a series of monthly payments. This ensures you can retain cash to be used for multiple business expenses.
Raise funding with refinance: Refinancing equipment your business owns can be a great way to raise cash. You can sell the asset to the funder and then lease it back, receiving a large percentage of the assets value in a lump sum. With the funding, your business can purchase new assets, make necessary payments, or fund growth investments. Once the finance payments have been made at the end of the agreement, your ownership of the asset resumes.
Simple budgeting: Finance agreements have set monthly repayment amounts, ensuring you can plan for how much you need to repay and when. Because of this, it ensures you can reserve capital each month to repay the asset back throughout the agreement.
Improving equipment: Tractor finance provides agri-business an accessible way to upgrade their assets. With a manageable payment structure, farmers can purchase a new tractor without using up a large amount of working capital initially. This ensures the agri-business can acquire an asset that will improve the quality, efficiency, and capacity of their service.
Financed tailored to your business: You can have terms that align with your financial circumstances. This enables businesses to set the repayment period they want to finance the asset over, ensuring they can set out monthly payments they know they can make each month.
How we helped an arable farmer finance a new tractor and loader
A Lincolnshire-based arable farmer came to us looking to replace a tractor that had become increasingly unreliable ahead of the spring drilling season. Time was short, and the farmer needed a solution that wouldn't stretch cash flow during a period when outgoings were already high.
We arranged hire purchase finance for a new tractor and front loader combination, with a total facility of £67,500 over a 60-month term. To ease the seasonal pressure, we structured the agreement to suit the seasonal nature of the farm, giving the business a little breathing room while it moved through the busier spring period.
The farmer was back in the field with a reliable machine, with terms that were more competitive than alternative options.
Apply for tractor finance
As a commercial finance broker, UK Business Finance connects agricultural businesses with a wide range of lenders capable of providing finance tailored to the purchase or refinancing of tractors and related farm equipment. We take the time to understand your operation so that the solution we present genuinely fits the needs of your UK agri-business.
Here is how we can help:
- A fast, free quote in 60 seconds
- We search across a substantial panel of lenders to match you with the right financial product
- From start to finish, our team manages the application on your behalf with the chosen funder
- Experienced professionals who understand the agricultural equipment finance market inside and out
To find out more about tractor finance options available to your business, contact our agriculture finance team.
Secure your free quote today!
Our team of finance experts can provide industry-leading advice on finance options to suit a range of different scenarios. Call the team on 0808 301 0624 or Contact Us
What finance can be used for tractor finance?
Farming and agri-businesses have access to a range of finance options when it comes to acquiring a tractor, with the most suitable solution depending on the needs of the business and its current financial position. Hire purchase provides a clear path to ownership through fixed monthly repayments, while a finance lease offers operational use of the asset without requiring ownership. Asset refinance is available for businesses that already own equipment and want to unlock capital from it.
UK Business Finance can help agri-businesses identify and arrange the right tractor finance solution. Whether you are upgrading existing machinery or expanding your fleet, our team is on hand to manage the process from application to funding.
| Asset Finance | Asset Refinance | Finance Lease | Unsecured Loans | |
|---|---|---|---|---|
Typical term length | Medium Term | Medium Term | Medium Term | Short Term |
Flexibility | Medium | Medium | Medium | High |
Deposit required? | Yes | Yes | Yes | No |
Purpose | Purchase assets | Raise capital for multiple ventures | Lease assets | Multiple business needs |
How do we work?
1. Get a Customised Quote
When you reach out to us, we will likely request that you provide the following information. Your latest set of accounts, previous 6 months’ banks statements and director’s personal details.
2. Compare Options
Once the information from step 1 has been confirmed, we will reach out to our extensive panel of funders, who under normal circumstances, respond with an answer in 48 hours. After this, Know Your Customer (KYC) and identification checks will take place for the business and its directors.
3. Finalise the agreement
As soon as you agree to move forward with the terms and conditions, you will receive the relevant documents for you to sign and then return. After the final checks have been completed, the funds will be released. The time taken to release the funding varies depending on the funder, ranging from 24 to 72 hours.
Why does your business need tractor finance?
Tractors are central to the day-to-day running of most farming operations, but they represent a considerable outlay. Financing the purchase rather than buying outright allows agri-businesses to protect their working capital and maintain financial flexibility across the seasons.
- Manage cash flow
- Comprehensive selection of finance facilities available
- Terms tailored to your business
- Upgrade key assets in your business
- Ability to refinance business assets
- Able to cover emergency costs
- Purchase vital equipment for your operations
- Improve work efficiency
Why Choose UK Business Finance
100% Independent Broker
We're not tied to any lender. With access to 90+ finance providers, we match you with the most suitable funding solution, not the one that pays us the best commission.
Callback Within 30 Minutes
From the moment you contact us, we commit to responding within 30 minutes. When your business needs funding fast, every hour counts.
Nationwide Coverage, Local Expertise
With 8 regional offices and 100+ supporting locations across the UK, you'll work with a finance specialist who understands your local market.
Agriculture Finance FAQs
What types of tractors can I finance?
We can arrange finance for a wide range of tractors, from compact and utility models through to higher capability arable tractors. This includes new machines from manufacturers such as John Deere, Fendt, Massey Ferguson, and New Holland, as well as quality used and refurbished tractors. Front loaders, cab upgrades, and specialist attachments can often be included as part of the same agreement.
What finance options are available for a tractor?
Hire purchase is a popular choice for tractor finance, as it allows you to spread the cost over a fixed term and own the machine outright at the end. Finance leases are also available and can suit businesses that prefer to preserve working capital or plan to upgrade regularly. In some cases, an unsecured business loan may be an option. We'll talk through which structure makes most sense for your business before we approach any lenders.
How much can I borrow to finance a tractor?
The amount available will depend on factors including the value of the tractor, your business's financial position, and the lender's criteria. Tractors range considerably in price, from smaller utility machines to high-specification arable tractors that can run to a higher cost. We work with a broad panel of lenders and will identify those best placed to support your specific requirements.
Can repayments for tractor finance be structured around the farming calendar?
Many of the lenders we work with understand that arable and mixed farming businesses don't generate income evenly throughout the year. It's often possible to arrange deferred start dates, seasonal repayment profiles, or other structures that align better with harvest income and quieter winter months. Tell us about your trading cycle and we'll look for terms that work with it, not against it.
Can I finance tractor attachments and implements separately?
In many cases, yes. Attachments such as front loaders, ploughs, cultivators, and precision farming technology can represent a significant cost alongside the tractor itself. It's often possible to finance these either as part of a combined agreement or separately, depending on the values involved. Let us know everything you're looking to fund, and we'll explore the most practical structure.
Can I finance a used tractor?
Yes. Finance is available for both new and used tractors, subject to the age, condition, and value of the machine. Lenders will typically want to understand the asset's service history and current market value, so it's worth having that information to hand before applying. We work with lenders who are familiar with the agricultural equipment market and can assess used machines realistically.
