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Tractor hire and agricultural asset finance

The farming and agricultural sector is an essential part of the economy. By now, there’s a wide range of new agricultural machinery and equipment that could help farmers work more efficiently. If you would like to invest in new assets, but don’t have enough capital to buy it outright, agricultural asset finance could help.

Tractor hire

Tractor hire can also be called 'tractor leasing' or perhaps 'tractor financing', and they all refer to an operating lease. This means that you can hire the tractor for a pre-set period, which is usually 12 to 60 months. This is why some people might also call this type of finance 'contract hire'. During the time you use the tractor, you have to make monthly payments to the lender. As soon as the contract has ended, you have to return the tractor, which means you won’t own the vehicle.


Farmers like this kind of tractor finance because of its flexibility — operating leases usually have a short leasing period, which allows you to renew the contract and upgrade to a newer tractor. Another perk is that most tractor hire contracts come with some maintenance provision, so you don’t have to worry about insurance and maintenance expenses.

Since your monthly payments for the tractor lease count as a regular business expense, you can offset them against tax (although individual circumstances vary, so you should check with your accountant before signing anything).

But, if you’re looking for a long-term solution, a finance lease or hire purchase agreement may be more suitable. With these two funding options you’ll eventually own the asset, which might be a better option than leasing if you need the tractor for a long time.

Short term tractor rental

On the other hand, if you’re looking for short-term tractor rental, some providers offer tractor leases for as short as 10 weeks. Bear in mind, that the longer the hire, the greater the discount on your lease. Once the contract is up, you can extend it and choose a longer tractor hire, giving you flexibility to try out different models.

Agricultural finance

While tractors are a popular option, there's a wide range of agricultural machinery finance on the market. Asset finance can help you lease, purchase or refinance a wide range of machinery, including:

  • Arable equipment and machinery — tractors, tillers, rollers, ploughs, harrows
  • Soil machinery — cultivators, ridgers, chisel plows
  • Planting machinery — broadcast seeders, spreaders, reapers
  • Hay balers and bailing equipment
  • Loader equipment — trailers, trucks, conveyor belts, telehandlers
  • Fertilising equipment and spreaders — manure spreaders, muck spreaders, silage
  • Harvesters and produce sorting equipment
  • Dairy machinery such as milking equipment

If you're not sure what the best option for your farm is, we can help you choose the right agricultural asset finance for your business.