Close Brothers Agricultural Finance sits in an important gap in the market: unlike John Deere Financial, AGCO Finance or CNH Capital, it is not tied to a specific brand or dealer network. That means it can fund any make of tractor or farm machinery - new or used - at competitive institutional rates, with structuring flexibility that captive lenders rarely match.
The rates below are indicative as of October 2026. Your actual rate will depend on deposit size, credit profile, time in farming, asset age and the structure chosen. As an independent broker, Doulton Bridging Finance benchmarks Close Brothers against our full panel simultaneously.
Close Brothers Agricultural Finance Rate Table
| Product / Asset Type | Finance Type | Rate from (APR) | Notes |
|---|---|---|---|
| New tractor (any brand) | Hire Purchase (HP) | 5.9% | You own the asset at the end of the term |
| New tractor (any brand) | Finance Lease | 5.4% | Seasonal schedules available |
| Used tractor (up to 5 years) | Hire Purchase | 6.5% | AHV (auction house vehicles) accepted |
| Used tractor (5–10 years) | Hire Purchase | 7.4% | Subject to asset condition and valuation |
| Combine harvester | Hire Purchase | 6.2% | Seasonal payment schedules recommended |
| Farm fleet facility (3+ machines) | HP / Lease (mixed) | 5.5% | Volume discount; all brands in one facility |
Rates are indicative only and subject to individual underwriting. Representative APR will vary. Asset finance is not regulated by the FCA.
Seasonal Payment Schedules: How They Work
Close Brothers is one of the few institutional lenders to offer harvest-aligned payment structures - a significant practical advantage for arable and mixed farmers. Rather than 12 equal monthly payments, the annual payment is redistributed to reflect actual farm cashflow:
Jan – Apr: Lower payments
Pre-harvest period. Reduced outgoings when cashflow is typically tighter.
May – Oct: Higher payments
Post-harvest. Higher payments aligned to when crop sales generate income.
This structure is particularly valuable for combine harvester finance, where a machine is heavily used for 6–8 weeks of the year. Finance lease is the most common structure for seasonal schedules; the total interest cost is broadly the same as a level payment HP, but cash management is materially easier.
Hire Purchase vs Finance Lease
| Feature | Hire Purchase | Finance Lease |
|---|---|---|
| Ownership at end | Yes - title passes on final payment | No - you can sell or refinance |
| Balance sheet treatment | Asset capitalised | Asset capitalised (IFRS 16) |
| Seasonal schedules | Less common | Available from Close Brothers |
| Balloon payment option | Yes | Yes (residual value) |
| VAT treatment | VAT paid upfront (reclaimable) | VAT spread across payments |
Eligibility and Key Terms
Close Brothers applies the following indicative criteria for agricultural finance:
- Deposit: typically 10–20% of asset value
- Term: 2–7 years (shorter terms available for older assets)
- Asset age: up to 10 years at end of term
- Auction house vehicles (AHV): accepted
- Minimum finance: typically £10,000
- Credit: prime profile preferred; some adverse considered via broker