Whether you’re looking to upgrade your mowing efficiency by purchasing a zero-turn or you need a compact utility tractor to manage a variety of tasks around your property, John Deere has a solution for you, and you can finance it if you want to.
Although it’s a great tool for many individuals and companies, financing can also feel daunting.
How long does this process take and is it a good idea for your situation? Should you put money down or finance the entire machine outright? What information will you need to provide?
These are important questions to answer as you investigate your purchase options.
As a John Deere dealer, at RDO Equipment Co., we aim to connect each customer with the perfect solution for their needs and have been doing so since 1968.
Today, more than half of our lawn and garden customers finance their machines in some fashion.
If this is the route you’re looking to take, understanding how this process works is key to making a confident purchase.
We’ll walk you through how financing works at RDO, including what information you’ll need to provide, the types of financing available and how you can expect this process to play out.
Understanding Your Financing Options at RDO
All financing for lawn and garden equipment being purchased by individuals (non-businesses) is done through John Deere Financial (JDF). This is our main lending partner in most cases and is the sole provider of financing for these purchases.
If you’re a company looking to add to your fleet, RDO works with many lenders to provide competitive financing options when programs with JDF aren’t available.
When financing your machine, it can be done either through an installment or a revolving plan.
1) Installment Financing
Installment financing is the most common form of equipment financing we offer. This is the same as a traditional loan – like you’d get for a pool or a car.
With an installment loan, you’ll pay a fixed total over a set amount of time.
Once the loan is paid off, it’s closed. If you want to finance another piece of equipment later, you’ll need to apply again.
Installment financing is the most common type of loan we give, but it’s only available for certain types of CP machinery.
Expect to receive an installment loan if you’re financing equipment like:
- Compact Utility Tractors
- Riding Lawn Tractors
Installment loan terms and rates are available in different forms, which are set by John Deere.
2) Revolving Plan Financing
Unlike installment loans, revolving plans are open-ended lines of credit. We only offer revolving lawn and garden plans to individuals, not businesses.
Once you’re approved, you can use a revolving line for multiple purchases (if they fall under a revolving plan qualification).
As an example, let’s say you’re purchasing a $10,000 zero-turn mower — like a Z740R. To buy it, you can open a $10,000 revolving line of credit.
There will still be a set term for paying off that Z740R. This could potentially be a 24-month or 36-month repayment with fixed payments each month. Unlike the installment loan, however, after the initial loan is paid off, that $10,000 line of credit is still in place.
That way, if you want to come back in and purchase another mower, you can do so without having to reapply. This is a great option for individuals that frequently update their lawn and garden equipment.
We offer revolving financing plans for equipment like:
- Zero-turn mowers
- Utility vehicles
- Certain lawn mowers
Financing Options Comparison
Here’s a quick look at how installment and revolving financing stack up:
| | |
| | Open-ended line of credit |
| Fixed (e.g., 24, 36, 60, 72, 84 months) | Flexible, based on credit limit |
| Yes, for each new purchase | No, reuse within credit limit |
| | Zero-turn mowers, utility vehicles, smaller equipment |
| | Fixed payments by purchase |
| | |
Applying for Financing With RDO
Applying for financing on your CP machinery is relatively straightforward and can be done quickly (provided you have the necessary information readily available). The application process can be done either online or in person.
1) Applying for Financing Online
If you would like, you can fill out the appropriate credit application on our website. When you do, your information will be sent directly to John Deere Financial for review. Your results will then be forwarded to our finance team to help you complete your purchase.
It usually only takes 5-15 minutes from the moment a customer submits an application online to the moment they get an initial decision back.
2) Applying for Financing In-Person
Alternatively, you can also fill out a physical application with your local RDO account manager at the store. This application will be sent to the appropriate RDO finance manager, who will then send it to John Deere Financial for analysis.
This process may take up to an hour or more if additional credit review is needed.
What You’ll Need to Apply for Financing at RDO
To perform your credit check and decide on the financing terms you qualify for, you’ll need to provide the following information in your application as an individual:
- Full name
- Social Security Number
- Date of birth
- Address
- Annual income (if applicable)
- A copy of your valid, unexpired driver’s license
Here’s what you’ll need as a company:
- Full business name
- Business Tax ID number
- Business address
- Owner information, including individual information listed above
What Happens After You Apply for Financing?
John Deere Financial will perform a credit check and make a decision based on your credit history. If your credit is limited or there are concerns, they may request a co-applicant.
Once approved, you’re ready to move forward with your purchase. Depending on how much you put down, the amount you’ll pay over the loan term will change. However, expect to pay on a regular schedule; this is usually monthly but may be quarterly or even every six months in some scenarios.
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.
Each time you make a payment, you’ll get closer to paying off the loan. If you would like, you can make payments for periods in the future. While you can’t make principal-only payments, every extra payment you make toward your loan is penalty-free, allowing you to pay off a piece of equipment at any time.
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 four 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. Do some research prior to arriving at your local RDO store. Have a good understanding of what you’re looking for and how much you’re willing to spend. This will help your account manager connect you with the right solution and get the process moving.
Ask your RDO account manager about current financing promotions. At regular intervals throughout the year John Deere releases refreshed financing offers 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.
Consider whether you’ll need to finance future purchases. When considering an option with revolving financing available, you should consider your future needs to decide whether this makes sense for you.
Start the Financing Process
At RDO, we take pride in connecting each customer with a unique solution catered to their needs. While financing a piece of machinery, even if it’s just a new lawn mower, can feel complicated, it doesn’t have to.
Whether you apply online or in person, we’re here to help you every step of the way.
Alex Mitchell
Alex Mitchell is passionate about customers, John Deere machines and RDO Equipment Co. As an Account Manager, Alex enjoys educating potential customers on what John Deere equipment can deliver, and he especially loves showing them they can turn their dreams of owning a Deere into reality.
