Whether you're looking to expand your fleet with a skid steer or invest in a compact excavator for your business, John Deere and RDO Equipment Co. offer flexible financing options to help you get the equipment you need.
At RDO Equipment Co., we aim to make the financing process as smooth and transparent as possible. This guide will walk you through how financing works for compact construction equipment (CCE), including application methods, required documentation and what to expect throughout the process.
Understanding Your Financing Options at RDO
Most financing for CCE purchased from RDO is through John Deere Financial (JDF). JDF offers fixed-rate, simple interest loans along with capital and operating leases for this equipment.
In some cases, particularly leases, RDO may work with outside lenders to secure your financing.
A CCE loan is an installment loan, which is repaid at regular intervals over a specified period and applies to a specific piece(s) of equipment.
Monthly, quarterly, semi-annual and annual payment structures are available along with seasonal skip payments to align with your cash flow cycles. Semiannual and annual payment structures will require down payments.
JDF does not have pre-payment penalties. Loans can be paid in part or in full at any time.
How to Apply for CCE Financing
Applying for financing on your CCE machinery is fast and easy. You can apply online or in person.
1) Applying for Financing Online
Apply online directly with John Deere & John Deere Financial. RDO will be contacted when the application is decided, and an RDO representative will reach out to you to complete the purchase and financing.
2) Applying for Financing In-Person
Alternatively, you can also fill out a physical application with your local RDO representative in person. Once the application is received, we typically have a credit decision in 4 hours or less. If additional information is needed, it could take longer.
What You’ll Need to Apply for CCE Financing
The required information varies depending on whether you’re applying as an individual, a corporation or a small(er) business.
Individuals
- Full name
- Social Security number
- Date of birth
- Address
- Annual income (if applicable)
- A copy of your valid, unexpired driver’s license
Large Businesses (Corporations)
- Company name
- Federal tax identification number
- Business address
- Signor information
Small Businesses (LLCs, Partnerships)
For smaller businesses, both the business and an individual co-applicant’s information may be required.
What Happens After You Apply?.
John Deere Financial will review the credit information on the application and inform RDO of the credit decision. If additional information is needed, JDF will contact RDO, and one of our representatives will contact you.
Once you're approved, you can go ahead and make your purchase.
Payment is typically made in any of these three ways:
- Online through your John Deere Financial account manually each period.
- Automatically through bank account withdrawals.
- Through the mail via check.
Tips for a Smooth Financing Experience
We try our best to make our financing process smooth for every customer. To ensure you can get your financing efficiently, here are three things to keep in mind.
Submit your completed application with all required information as soon as you can – this will help you get through the process faster.
Understand your budget and the kind of equipment you’re looking for. Whether it’s a skid steer, compact track loader or excavator, have a good understanding of what you’re looking for and how much you’re willing to spend. This will help your sales contact connect you with the right solution and get the process moving.
Ask your RDO salesperson about current financing programs. At regular intervals throughout the year, John Deere releases refreshed financing programs for its equipment lineups. No matter what time of year you’re shopping, there will be an active offer. If you’re considering financing, take advantage of these options.
Start the Financing Process
Financing compact construction equipment with RDO Equipment Co. is a straightforward process designed to help you get the tools you need. Whether you apply online or in person, our team is here to support you every step of the way.
