# where to get a loan for tractor



## tw30 (Apr 4, 2010)

where could i get a loan or co-signment with good intrest rate . ill be 18 2 month 2 weeks . my dad credit score is 730-750 . have a few people saying only if you had the equipment i got the fields


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## mlappin (Jun 25, 2009)

You can try the equipment dealer, but unless you can catch a special on the financing like 0% for the first year or something similiar, I've found the bank I do business with almost always does me better.


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## NDVA HAYMAN (Nov 24, 2009)

mlappin is correct. Check with your equipment dealer. Also, the FSA used to have a young farmer program where they would lend young guys money to help get started farming at very reasonably low rates. They were always a good resource. Mike


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## LaneFarms (Apr 10, 2010)

try John Deere credit. They have had good rates the last couple times I have dealt with them.


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## haybaler101 (Nov 30, 2008)

tw30 said:


> . have a few people saying only if you had the equipment i got the fields


Equipment loans are no problem, any company will loan money on equipment, with the equipment for collateral. Your real challenge is going to be operating capital. You need a huge chunk of money to do any kind of farming and your youthfulness and lack of farming experience are not on your side. Good Luck.


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## Mike120 (May 4, 2009)

You'll get the best deal from a manufacturer on new equipment. JD Credit is easy to do business with. You can often get reasonable rates from a dealer on used equipment. A bank will cost you the most and have the worst terms. The FSA has some good programs for beginning farmers for both Farm Ownership and Direct Operating expenses (buying equipment). I deal mostly with the NRCS guy in my county and he usually helps me with any FSA paperwork. They're pretty easy to deal with in my county and can also help you with field establishment costs.


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## tw30 (Apr 4, 2010)

what counts as new ? i was looking at new balers and a 2wd case puma 195 07 or 08 model . or do yuo mean new off the lot ? id like to start a farm in my early 20's 25 year loan paid off by by late 40's .


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## swmnhay (Jun 13, 2008)

tw30 said:


> what counts as new ? i was looking at new balers and a 2wd case puma 195 07 or 08 model . or do yuo mean new off the lot ? id like to start a farm in my early 20's 25 year loan paid off by by late 40's .


What else you have on your "wish list"

You will need more than a tractor and baler to farm with.


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## tw30 (Apr 4, 2010)

yeah i know lol . i just said tractor because i actually want to buy the tractor but maybe less the attachments . but if i had the possibility of a loan . i was looking a rb56 round baler ,mf1512 rake - their cheap ive seen new ones for 5k. i dont know about a mower. buy you need a drill to plant seed right. also a small disc 10' for fire brake and other utility work armstrong make this for 7,000$ or a athens m66 
15' 3 point which is same price .

also been pricing land to buy .figured no more than 2,700$ per acre but found alot for 1700$ per acre average . there a lot right now 120 acres for 600$ acre . but in total i figured up maximum of 400,000$ for land . cant never tell what equipment cost,seed,fertilizer,water utilty bills,desiel . maybe technical bills . taxes . im sure i left alot out


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