A Beginner's Guide To Financing Your Equipment

70% of buyers choose tractor financing - and it's easy to see why! Farm equipment financing is a strategic way to get the model you need...without saving up for years to pay in full. 

Keep reading to learn more about this process. If you have questions or want to get the farm equipment financing process started, contact Cliff Jones Mahindra Tractor. Our dealership is based in Sealy, Texas, and we also serve those in Houston and Victoria.

Build Your Budget

Think about how much you want to spend on farm equipment. Remember to factor in the related expenses, such as equipment implements and the financing agreement's interest. Our financing options can add service agreements, insurance, parts, and more into the one low monthly payment, keeping it simple and organized for your records.

If you want to spend less money, consider shopping for used farm equipment. These models have been impacted by depreciation, which makes their asking prices much lower than their new counterparts. We offer financing options for new and used farm equipment, allowing you to pick the model that best matches your budget.

Next, think about how much you can spend on a monthly payment. It's helpful to take a long-term approach to this number. Determine the monthly payment based on a reasonable number for the years of the loan, not just what you can pay this year. Our online loan calculator can help you get an instant loan rate, which can be a resource in the budgeting process.

Get A Down Payment Together

Financing options require an upfront down payment, which is usually a certain percentage of the farm equipment's worth. Start setting aside funds for the financing down payment now, even if you won't be buying the model for a while. The more you can pay upfront, the less you will end up spending on interest rates.

Check Your Credit

The financing options will factor in your credit score. Try to get your score as high as possible before you start the financing process.

If you have no credit or bad credit, don't worry! Many farm equipment dealerships, including Cliff Jones Mahindra Tractor, can still offer you financing options.

Start The Financing Process

The last step is to start the financing application process. Ours is found online for your convenience. If you have questions or want assistance, you can reach out to our friendly staff first. They are happy to help with anything you need!

Know that the financing details can be flexible. For example, our customers with existing loans can qualify for low-interest loans, loan refinancing, or contract terms adjusting.

Ready to start the financing process? The experts at Cliff Jones Mahindra Tractor are at your service. Whether you have bad credit, great credit, or no credit, we can get you situated. Contact us or stop by our dealership in Sealy, Texas, to get started. We are also proud to serve those in Houston and Victoria, Texas.