Tractor Finance

Q: Can I finance a used tractor?

Yes. Most lenders finance used tractors up to 12 years old. Well-maintained tractors hold their value well. An independent valuation is required for machines over 5 years old.

Q: What deposit do I need?

For hire purchase, most lenders ask for 10–20% deposit. Finance leases and operating leases often require no deposit. A larger deposit reduces monthly payments.

Q: How quickly can I get tractor finance?

Most applications are approved within 24–48 hours. For deals under £100k, same-day approval is common. Larger or seasonal purchases may take 3–5 working days.

Q: Are there seasonal payment options?

Yes. Many agricultural lenders offer seasonal payment profiles that align with harvest income — lower payments in winter, higher after harvest.

Spread the cost of tractors from £20,000 to £350,000+ with flexible finance options. HP, lease, or refinance — compare rates from 40+ lenders.

Typical Cost

£20k – £350k

Approval Speed

24–48 hours

Same-day for < £100k

Rates From

From 4.2% APR

Finance options

Hire Purchase (HP)

Rate: From 4.5% APR
Term: 12–84 months
Deposit: 10–20%
Ownership: Yours at the end
Best for: Farmers wanting to own the tractor outright

Finance Lease

Rate: From 4.2% APR
Term: 12–84 months
Deposit: None required
Ownership: Return or buy (balloon payment)
Best for: Tax-efficient — claim 100% of payments against profit

Operating Lease

Rate: From 4.9% APR
Term: 24–60 months
Deposit: None required
Ownership: Return at end
Best for: Always run the latest model. Off balance sheet.

Representative example

Borrow £85,000 over 48 months at 5.9% APR (fixed). Monthly repayment: ~£1,769. Total amount payable: ~£84,912. Rates depend on your circumstances.

Popular models

Model	Price Range	Type
John Deere 6R 150	£80,000 – £120,000	Utility Tractor
New Holland T7.270	£110,000 – £170,000	Row Crop Tractor
Massey Ferguson 5S.135	£65,000 – £90,000	All-Purpose Tractor
Kubota M7-173	£85,000 – £130,000	Premium Tractor

Tax benefits

Tractors qualify for Annual Investment Allowance (AIA), letting you deduct the full cost from taxable profits in year one — up to £1,000,000. HP agreements allow capital allowances. Lease payments are fully deductible from farming profits.

Market context

Over 12,000 new tractors are registered in the UK annually. The UK agricultural machinery market is worth £3.5bn. Average tractor working life in the UK is 15 years, with many farms now switching to GPS-guided precision models.

Bad credit?

Several of our 200+ lenders specialise in businesses with imperfect credit histories. You may need a larger deposit or personal guarantee, but options exist. Our eligibility check uses a soft search only — no impact on your credit score.

Frequently asked questions

Can I finance a used tractor?