🚜 Tractor Finance Calculator UK
Calculate financing options for agricultural tractors and farm equipment
How to Use the Tractor Finance Calculator
- Enter Tractor Price: Input the purchase price of the tractor.
- Set Deposit: Enter your available deposit amount.
- Choose Finance Type: Select the most suitable financing option.
- Select Term: Choose your preferred repayment period.
- Set Interest Rate: Enter the quoted interest rate.
- Tractor Details: Select age and type for accurate calculations.
- Business Type: Choose your business category.
- Additional Options: Select any extras like insurance or warranties.
- Calculate: Get detailed financing breakdown and comparisons.
Frequently Asked Questions
Hire Purchase (HP) is popular as you own the tractor at the end. Finance leases offer tax benefits for businesses. Operating leases provide lower monthly payments but no ownership.
Typically 10-30% deposit is required. New tractors may need less (10-15%), while older tractors often require 20-30%. Larger deposits reduce monthly payments and interest costs.
Tractor finance rates typically range from 4-12% APR, depending on credit score, deposit, tractor age, and lender. Manufacturer finance often offers competitive rates for new tractors.
Yes, businesses can often claim Annual Investment Allowance (AIA) for tractor purchases, potentially allowing 100% first-year tax relief. Lease payments may also be tax-deductible.
New tractors offer warranties and latest technology but cost more. Used tractors (2-5 years) often provide the best value. Consider usage requirements, maintenance costs, and available finance terms.