Quick answer: can UK Business Loans help?

UK Business Loans does not provide finance itself. We are an introducer that connects farm businesses and agricultural companies with specialist lenders and brokers who arrange funding for equipment — including used tractors, combines, trailers and other machinery.

Whether a lender will fund a used or privately purchased item depends on the asset’s condition, documentation and the lender’s appetite. Our role is to match you with partners most likely to approve your request so you save time and get relevant quotes.

Free Eligibility Check — Get a quick quote

What types of finance can cover used agricultural equipment?

Several finance products can be used to buy used or privately sold farm equipment. Which is best depends on whether you want ownership, tax treatment, and how the lender values the asset.

Asset finance (hire purchase, finance lease, chattel mortgage)

Asset finance is the common route. Hire purchase lets you spread the cost and take ownership at the end. Finance leases and chattel mortgages are alternatives that suit different tax and accounting preferences. Lenders will assess the asset’s age and resale value.

Equipment refinance / asset refinance

If you already own equipment outright, you can use asset refinance to unlock working capital by borrowing against the machine’s value. This can be helpful for cashflow or reinvestment.

Secured business loans

Some lenders provide term loans secured against business assets, including machinery. These can be used to buy privately sold equipment or refinance existing debt.

Specialist tractor/vehicle finance

Specialist lenders and broker-arranged packages focus on agricultural vehicles and plant—these providers are often more flexible about age and condition than mainstream banks.

For more information on the broader support we offer across the sector, see our farming loans page on industry lending and services: farming loans.

Get a Free Eligibility Check

Buying privately vs dealer purchase — what lenders look for

Dealer purchases are normally straightforward: dealers can supply invoices, run history checks and confirm there is no outstanding finance. Privately purchased equipment (from a farmer, auction or private seller) often requires extra checks.

Key lender concerns

• Proof of legal ownership — clear bill of sale or sales receipt.
• Asset identification — serial/VIN numbers and photographs.
• Service history — maintenance records and usage hours.
• Outstanding finance — lenders will want confirmation the seller hasn’t already used the asset as security.
• Condition & marketability — independent valuation or inspection may be requested.
• Insurance arrangements — confirmation the asset will be insured from purchase date.

Practical checklist to improve chances

• Signed bill of sale with seller and buyer details.
• Proof seller has cleared any outstanding finance (a settlement letter).
• Photographs and serial/VIN numbers recorded.
• Service and maintenance history, including hours/mileage logs.
• Independent valuation if the sale was private or via auction.

Note: some lenders will not fund certain privately sold items (especially older or specialist kit) — that’s why matching to the right lender matters.

Ready to check eligibility? Get a free quote

Typical lender criteria for used farm equipment

Every lender has their own risk appetite, but common criteria include:

• Business eligibility — limited companies, trading history, turnover and VAT status are considered.
• Asset criteria — make, model, age, hours and condition. Older equipment may need higher deposits or specialist underwriting.
• Loan size — our partners typically work from around £10,000 upwards for equipment finance.
• Deposit / LTV — indicative deposits are often required (examples: 10–30% depending on asset age and type).
• Credit profile — business and sometimes director credit checks; personal guarantees may be requested for smaller ops.
• Insurance & maintenance — evidence of adequate insurance and maintenance plans.

Get Quote Now — Free & No Obligation

How UK Business Loans helps you get finance faster

We simplify the process and increase your chances of a suitable offer by:

1. Collecting a short set of details via our enquiry form (this is not an application — it’s used to match you).
2. Matching you with specialist brokers and lenders experienced in agricultural asset finance.
3. Facilitating valuations and document requests so lenders can make offers quickly.
4. Delivering multiple quotes where available so you can compare terms and choose the right provider.

Our introduction service is free to use and confidential. We only earn revenue when a business completes the enquiry and is introduced to a partner who then engages directly with the business to close any finance.

Start your Free Eligibility Check

Typical timeline & process

Timings vary by lender and complexity, but a typical journey looks like this:

• Enquiry submitted — minutes.
• Initial match & partner contact — often within hours during business days.
• Valuation/inspection (if privately purchased) — 1–5 working days depending on availability.
• Formal finance offers — usually within a few days of valuation and receipt of documentation.
• Completion & funding — days to a couple of weeks depending on the documentation and lender process.

Having clear paperwork and a recent valuation ready can speed things considerably.

Pros & cons of financing used or privately purchased equipment

Pros

• Lower purchase price versus new equipment.
• Preserve working capital and cashflow.
• Possible tax and balance-sheet benefits depending on product chosen.
• Faster access to equipment compared to ordering new models.

Cons

• Older equipment can require higher deposits or higher cost of finance.
• Potential for increased maintenance and downtime.
• Private sales may need independent valuations and extra checks.

How to improve your chances of approval

• Provide a clear bill of sale and proof the seller has no outstanding finance.
• Obtain a recent independent valuation where possible.
• Keep service history and hours records up to date.
• Prepare business accounts or recent bank statements to show cashflow.
• Work with a broker experienced in agricultural asset finance — we’ll match you to one.

Fees, rates & transparency

Exact fees, rates and terms vary by lender and depend on the asset, business credit profile and chosen product. Lenders must provide a written quote outlining interest, fees, security and early settlement terms. We encourage you to compare offers and ask for full written terms before accepting.

Get a Free Eligibility Check — Quick Quote in Hours

FAQs

Can you finance a used tractor bought privately?

Yes — many lenders will finance privately purchased tractors, provided the asset has clear ownership, identifiable serial numbers, service history and an acceptable valuation.

Will lenders accept equipment bought at auction?

Some will, but auctions often require an independent inspection and proof there’s no prior encumbrance. Discuss the auction details when you submit your enquiry.

How old is too old for equipment finance?

Age limits vary. Specialist agricultural funders are often more flexible than mainstream banks. Older assets may need larger deposits or shorter terms.

Do I need a deposit?

Many lenders expect a deposit; typical ranges depend on asset age and type. We can match you to lenders with the most suitable deposit expectations.

Will applying affect my credit score?

Submitting an enquiry with us does not affect your credit score. Lenders or brokers may perform checks later with your consent.

What if the seller still owes finance on the equipment?

Outstanding finance must be settled before a lender will accept the asset as security. Obtain a settlement statement from the seller’s lender and include it in your paperwork.

Final summary & next steps

UK Business Loans can help you access finance for used or privately purchased agricultural equipment by introducing you to specialist lenders and brokers. Approval depends on asset condition, paperwork and lender criteria. Our short enquiry (not an application) helps us match you to the partners most likely to deliver a suitable offer for sums of around £10,000 and up.

Start your Free Eligibility Check — Get Quote Now

Author: Tom Smith, Agricultural Finance Partner Lead — 10+ years matching UK farms with specialist lenders and brokers.

Published: 29 October 2025

Important disclosure

UK Business Loans is an introducer and is not a lender or regulated financial adviser. We connect businesses with third‑party lenders and brokers who provide finance and make credit decisions. Completing our enquiry form is not a formal application — it gives us the information needed to match you with the most suitable partners. We cannot guarantee approval.

Privacy & Terms: Privacy Policy | Terms & Conditions

Guidance: For wider consumer protection and financial promotion guidance see the Financial Conduct Authority: fca.org.uk