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Tractor finance.

Feckthis · 2015-09-30 19:05:55

What way does tractor finance work say we have a tractor to trade and looking at a tractor between 20k to 30k. Would the trade in count as a deposit? Can you fix repayments to be paid out every 6 months?

30-09-2015 7:05pm

#1

Feckthis

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Join Date: August 2014

Posts: 435

What way does tractor finance work say we have a tractor to trade and looking at a tractor between 20k to 30k.
Would the trade in count as a deposit?
Can you fix repayments to be paid out every 6 months?

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#2 30-09-2015 7:18pm

RightTurnClyde

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Join Date: April 2014

Posts: 2131

Feckthis wrote: »

What way does tractor finance work say we have a tractor to trade and looking at a tractor between 20k to 30k.
Would the trade in count as a deposit?
Can you fix repayments to be paid out every 6 months?

Trade in will work as deposit
Finance companies usually require 20% or over as a desposit (trade in will go towards this)
They don't like annual payments any more. (But can be got sometimes)
You can do semi,quarterly, monthly etc.
Watch for documentation fees at the start or balloon payments at the end. You should have neither

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