Agriculture

Combine harvester finance for farms and contractors

Spread the cost of a new or used combine, headers included, with payments timed around harvest. Compare hire purchase, balloon HP, leasing and refinancing.

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In short

Supporting arable farms at every stage.

Most farms buy a combine on hire purchase, often with a balloon to reduce instalments, because they keep the machine for years and may claim capital allowances.

A finance lease suits those who never want ownership, and refinancing releases cash from machinery already owned. The key difference from other machinery finance is timing: payments can be set annually or after harvest to match when grain and contracting income are paid.

The operating cycle

Where finance fits into your arable farm

Cash leaves the business at every stage before it comes back. Each stage below is a point where the right facility can carry the gap.

“He is fair and always gives advice that is in the best interest of his clients.”

01
Win work
Orders, contracts or customers secured.
02
Buy in
Stock, materials and equipment paid for up front.
Asset finance →
03
Pay people
Wages and suppliers paid on time.
Working capital →
04
Deliver
The work is done or the goods are sold.
05
Get paid
Customers pay, sometimes weeks later.
Invoice finance →
06
Tax
VAT and Corporation Tax fall due.
HMRC loans →
07
Invest
Growth, a new site or new equipment.
Business loans →

About combine harvester finance

Specialist knowledge. Better outcomes.

Combine harvester finance lets arable farmers and agricultural contractors spread the cost of a new or used combine.

Combine harvester finance lets arable farmers and agricultural contractors spread the cost of a new or used combine, with its headers and attachments, over the machine's working life. The main options are hire purchase, finance leases and refinancing machinery you already own, often with seasonal repayments that match harvest income. Smart Funding Solutions is a broker, not a lender: we search our panel of 300+ lenders, including agricultural specialists, for terms that suit your farm.

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Funding needs

Funding options for arable farms

Choose the need, and we’ll show you how lenders usually structure it.

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Finance options for combines

Hire purchase

You pay a deposit, often including the VAT, and then fixed instalments over an agreed term. You own the combine once the final payment is made. Hire purchase is the most common route for farm machinery because you keep the machine for the long term. As the owner for tax purposes you may be able to claim capital allowances; your accountant can confirm the position.

Hire purchase with a balloon

Deferring part of the cost to a final balloon payment lowers the regular instalments. At the end you pay the balloon, refinance it, or sell or part-exchange the machine to settle it.

Finance lease

The lender owns the combine and rents it to you for most of its working life. Rentals are fixed and generally treated as a business expense. At the end you can usually continue renting at a reduced rate or arrange a sale of the machine.

Refinancing machinery you already own

If you own a combine or other machinery outright, asset refinancing can release cash from it while you keep using it. This can fund a machinery upgrade, land purchase or working capital.

Why finance a combine harvester?

A combine is one of the largest investments an arable farm or contractor makes, and it earns its money over a short window each year. Finance spreads that cost so you:

keep cash available for seed, fertiliser, fuel, labour and other machinery
can buy a larger or more efficient machine than cash alone would allow
match repayments to when grain is sold, rather than paying in one lump sum
can plan replacement or upgrades at the end of an agreement

Seasonal and flexible repayments

Many agricultural lenders offer repayment profiles built around the farming year: annual or half-yearly payments, larger payments after harvest, or payment holidays in the months before income arrives. To agree a seasonal profile, lenders will want a cash flow forecast showing when your income actually arrives. Grain is often stored and sold on forward contracts months after harvest, so base the payment dates on when sales are paid, not on when the crop comes in. This flexibility is one of the main advantages of using a lender that understands agriculture.

New or used?

New combines come with manufacturer warranties and the latest yield-mapping and automation technology. Used combines cost less and can be financed too, but lenders look closely at age, engine and drum hours, condition and expected resale value, and terms may be shorter. Buying through an established dealer with full service history makes approval easier.

Owning, leasing or using a contractor

If your acreage does not justify owning a combine, using a contractor or sharing a machine may be more cost-effective. Contractors themselves often finance several machines, and lenders will look at the strength of their contracts and customer base. If you do own, compare the total cost of hire purchase against a lease over the period you expect to keep the machine.

Other farm finance

A combine is often one part of a wider investment. See our guide to agricultural finance and farm loans for land, buildings, livestock and working capital, and our article on tractor finance for other machinery.

Underwriting

What lenders look at

Farm or contracting accounts for recent years

Recent bank statements and a cash flow forecast

Acreage farmed or contracted, and income sources

Existing machinery finance and other borrowing

Credit history of the business and its owners

The machine: make, model, age, hours and supplier quote

Underwriting

How lenders assess combine harvester finance: hours, contract work and seasonality

A combine is one of the most expensive machines on a farm and works for only a few weeks a year, so lenders focus on its value and on when the money to repay it arrives.

Our panel includes an agricultural specialist bank as well as general asset lenders. Scheme income that supports farm cash flow is covered in our news on the SFI26 application window.

Hours, header and service history

Engine and threshing hours drive value, and the header is often valued separately. Lenders ask for hours, service records and any major repairs before setting the advance.

Contract combining income

A machine that also cuts for neighbours earns contract income that can support the repayments. Lenders like written agreements or a history of the same customers each year.

Fuel rules

Agricultural machines can still use rebated fuel for farming work, which keeps running costs down; see Excise Notice 75.

Payments that follow the harvest

Many lenders will set annual or seasonal payments that fall after grain is sold, rather than equal monthly sums.

Checklist

Documents to have ready

The dealer quote, including headers, trailers and any trade-in
Your latest accounts and recent business bank statements
A cash flow forecast showing when grain or contracting income arrives
A list of existing finance agreements on other machinery

How we help

Send us the dealer quote and your latest figures.
We work out which structure and repayment profile suit your harvest income.
We approach lenders on our panel that fund agricultural machinery.
We compare the offers with you, including the total cost of each.
The lender underwrites and makes the final decision; decisions can come within a few working days once it has everything it needs.
Once you sign, the lender pays the dealer on delivery, with any trade-in value and deposit accounted for in the invoice. VAT paid in the deposit is usually reclaimed on your next VAT return.

It is free to enquire; any broker fee is disclosed separately before you proceed.

FAQs

Questions clients ask

Can an agricultural contractor get combine finance?

Agricultural contractors are a significant part of the market for combine finance, and specialist lenders will consider them. They look at trading history, the contracts or regular customers in place, the acreage covered, existing machinery finance and recent accounts. Repeat customer relationships help show that repayments remain affordable across good and poor harvests, and a spread of customers reduces the risk of relying on one farm.

How long can you finance a combine harvester for?

Combine harvester finance terms are usually matched to the machine's expected working life and resale value, so new combines tend to qualify for longer terms than older used ones. Lenders weigh the age, engine and drum hours, condition and your farm's cash flow. A balloon payment can reduce the regular instalments. Lenders set their own maximum terms, so it is worth comparing more than one agricultural lender.

Do I need a deposit for combine harvester finance?

Usually, yes. With hire purchase you normally pay a deposit, often including the VAT, which VAT-registered farms can then reclaim. A trade-in of an existing combine can count towards the deposit. The size required depends on the machine, its age and your accounts. A finance lease may need a smaller upfront payment. Our asset finance calculator helps you estimate instalments for different deposits.

Can I get combine harvester finance with bad credit?

It can be possible, but options narrow and terms are usually less favourable. Lenders look at the credit history of the business and its owners, so missed payments or CCJs lead to closer scrutiny, a larger deposit or a shorter term. Strong accounts, a good cash flow forecast and an explanation of past problems help. Our guide to bad credit asset finance covers what lenders consider.

Can I refinance a combine harvester to release cash for other farm costs?

Yes, if you own a combine outright or have significant equity in it, asset refinancing can release cash while you keep using the machine. Lenders base the amount on its current value, age and hours. The money can fund other machinery, land or working capital. Our page on asset refinancing explains how it works and what lenders check.

Can I get instant quotes for combine harvester finance?

You can see which lenders on our panel are likely to fit your farm, with no credit search, using Instant Quotes. For a combine, the lender will also want the machine details, its age and hours before confirming terms.

Can I claim capital allowances on a combine bought on hire purchase?

Usually yes. Under hire purchase your business is treated as the owner, so the combine can qualify for capital allowances such as the Annual Investment Allowance once it is in use (GOV.UK: Annual Investment Allowance). Check the timing with your accountant.

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