Farm Equipment Financing FAQs
About Tractor Zoom
Who is Tractor Zoom?
Tractor Zoom is an online marketplace that connects farmers looking to purchase farm equipment with auctioneers and dealers with available inventory. Established in 2017, we are changing the way the industry researches, values, and manages the purchase of farm equipment. By partnering with 638 auctioneers and 1304 dealer locations nationwide and multiple financial lenders, we make it easy for farmers to browse, filter, and compare dealer and auction listings side-by-side to find and purchase the equipment that best meets their operations’ unique needs.
Does Tractor Zoom provide equipment financing?
No, Tractor Zoom is not a lending institution. We help facilitate equipment financing with our industry-leading lenders. Today, we offer an equipment financing pre-approval process to present farmers with farm equipment loan interest rates and terms from various lenders so they can select the best financing options that meet their needs.
What financing options are available through Tractor Zoom?
Tractor Zoom facilitates equipment financing with lenders who provide equipment installment loan options for heavy equipment with a focus on agricultural equipment. Those lenders provide fixed and variable rate options with terms from 2 - 7 years and amounts financed of $10,000 and above.
What types of farm equipment do you finance or refinance?
All major categories and brands of agricultural equipment, including John Deere, Case IH, New Holland, and more are available for financing. Equipment used for commercial construction is also available for financing through Tractor Zoom.
Are there any types of equipment that Tractor Zoom would not finance?
Tractor Zoom’s main focus today is Agricultural Equipment. However, other types of equipment are supported by our featured lenders including construction and commercial use.
Who can get financing with Tractor Zoom?
You must be 18 years old or otherwise have the ability to legally contract for equipment financing in your state of residence, and either a U.S. citizen or resident alien (permanent or non-permanent).
Is farm equipment financing available within my area with Tractor Zoom’s lenders?
Yes. Tractor Zoom’s lending partners are available for all 50 states.
Why should I get pre-approved with Tractor Zoom?
Instead of shopping and negotiating with multiple lenders to get the best rate, think of Tractor Zoom as the first-ever, interest rate comparison tool for the agriculture equipment industry. We also feature participating lenders able to help facilitate instant equipment loan decisions to get you funded faster. While there are a few companies that offer farm equipment financing, each with its own unique list of pros and cons, Tractor Zoom aims to streamline the finance process to arm you with the best rates and terms that meet your operation’s needs. We’re your one-stop shop to not only find equipment but finance it with competitive rates.
Who does Tractor Zoom work with to provide farm equipment financing?
Today, Tractor Zoom facilitates equipment financing for Amur Finance, FBN Finance, and Finance Scope. We are actively in conversations with other lenders and plan to expand our network to continue to ensure farmers have the best options to finance their equipment.
Applying for Financing Pre-Approval with Tractor Zoom
How do I apply?
Applying is easy. Visit our pre-approval application and enter the required information when prompted: Step 1 — Financing Details: Select the term length you wish to finance your equipment in from the dropdown (2-7 years), then the total amount you wish to finance (this may be the full amount or an amount after a down payment is applied). Step 2 — Basic Information: From there, provide us with some basic information on how the equipment will be used, your years in business, your estimated credit score, and your email address to access your personalized rates. Step 3 — Select a Lender: Select a lender from the results that surface to complete your application directly with them.
Are there any fees?
Tractor Zoom does not charge any fee for obtaining estimates from our network of lenders. The lender you ultimately choose to finance with may charge a documentation or closing fee.
Will applying hurt my credit score?
No. Tractor Zoom does not pull your credit score to showcase finance program quotes from our network of lenders.
What information is required of me to apply for financing?
Your desired term length and amount to be financed; how you plan to use the equipment; years in business; estimated credit score; and contact information including email address.
Does Tractor Zoom sell my contact information to other companies?
No, your information is only shared with the lender you’ve selected to finalize your farm equipment loan with.
How long will it take to be approved for financing?
Available finance rates will be presented within 60-seconds or less of completing the Tractor Zoom pre-approval application. Final approval from each respective lender will vary. Users proceeding with loan offers noted as providing an “Instant Decision” will receive a final credit decision once their application is complete. All other applications with participating lenders are typically finalized within 2-48 hours of application depending on the time and day of the week you apply.
Does Tractor Zoom finance pre-approvals include options for same-day loan decisions?
Yes. Based on your loan criteria, farmers who leverage the Tractor Zoom finance pre-approval process may have access to instant farm equipment loan decisions with their completed application.
Can I apply for financing on equipment not featured on Tractor Zoom’s website?
Yes. Tractor Zoom passes along equipment information to the lender application for any equipment on our website. For equipment financed directly through a dealer or auctioneer, you may need to supply equipment information such as make, model, serial number, or more to finalize your application with your selected lender.
Can I get pre-approved for financing before I pick out a piece of equipment?
Yes and in most instances, applying ahead of time is a benefit to you because you’ll know what interest rate you’ve secured to help inform your purchase decision.
Can I apply for financing on farm equipment up for auction?
Yes. This is also a scenario where applying for financing ahead of time is beneficial as most auctions require payment the day of or within 48 hours of the sale.
Can I apply for financing on farm equipment at a dealer store?
Can I apply for farm equipment financing if I have bad credit?
Yes. Everyone is welcome to see if they pre-qualify with our participating lenders!
Can I still apply for financing if this is my first farm equipment purchase?
Farm Equipment Rates & Terms
What are your interest rates and available terms?
Do loans require a down payment?
Typically, no. However, a down payment may be required based on your credit history.
What type of payment plans are available?
Payment plans may vary by lender but most offer monthly, biannual, or annual payment plans.
What can I expect my payments to be?
Still have questions? We’re here to help.
All rates and terms are subject to credit approval and are subject to change. Tractor Zoom does not make any financing decisions and does not guarantee the approval of financing from its finance partners. Tractor Zoom does not retain years in business or estimated credit score, all information entered is used to prepare an estimate of the interest rate and payment based on general parameters. If the finance partner elects to extend credit, the exact rate and terms will be finalized with the finance partner who is wholly responsible for making a financing decision. By selecting a partner above you agree to allow Tractor Zoom to provide that finance partner with information you have provided to start the credit application process.