John Deere Press Room 2009

In these tough and uncertain economic times when farmers and contractors are making long-term purchasing decisions, they are not simply looking for tailor-made financing options and the lowest possible interest rates. More than ever they are reminded how important it is to only put their trust in a financing partner they can rely on to support them in the long-term – someone who understands their business and speaks their language.

As a financing partner of agricultural and turf customers, John Deere Credit builds on the company’s 172 year history and a long heritage of supporting its customers through financially challenging times. Hence, at the beginning of the recent financial crisis, John Deere Credit immediately took action to ensure continued credit availability for its customers at attractive interest rates.

“Over the last six months our customer approval rates have remained unchanged”, says Andreas Peppel, recently appointed European sales & marketing director at John Deere Credit. He goes on to explain: “This level of credit availability reflects John Deere’s mutual relationship with its customers, which is what really makes us stand out in these difficult times.

“As a manufacturer owned finance company, we are primarily here to help customers purchase our products, rather than simply sell them finance. And this is actually more important in the bad times than in the good times.

“Take for example a recent finance offer on combine harvesters. In addition to a very attractive interest rate, the customer enjoys cash flow matched repayments. This gives arable farmers a much needed increase in flexibility to time their crop sales better in these uncertain market conditions. This is just one example of how seriously we take the partnership with our customers.”

John Deere Credit has always worked in close cooperation with local John Deere dealers to support customers through extraordinary events, such as the movement restrictions caused by foot and mouth disease. In such circumstances, where customers have run into temporary liquidity issues due to events outside their control, John Deere Credit has sought to provide support by allowing amendments to finance repayment terms.

Today dairy farmers are facing historic challenges within their industry. John Deere Credit is listening and seeking ways to help them through these difficult times, providing them with the continued financial support they need in the short term as they adapt their businesses for sustainable future growth and profitability.

John Deere financing solutions are available through the local John Deere dealer network.