Winnipeg tractor manufacturer Versatile has finalized its first-ever finance options for farmers, the company announced Monday.
The manufacturer, owned by Buhler Industries and previously called Buhler Versatile, said new finance programs are now available, supported by Oakville, Ont.-based Agricredit Acceptance, owned by Rabobank subsidiary De Lage Landen.
Previously, with no manufacturer financing in place, farmers had to either secure financing through a financial institution or buy their Versatile equipment on their line of credit, the company said Monday.
“Often there were no preferential rates or incentives but with Versatile Finance farmers may have access to special interest rates and lease programs,” the company said.
The company said its financing launch is made even more timely by the current global credit crunch, giving farmers another option when balancing their farms’ equipment needs with the necessity of maintaining cash flow.
Programs, offers and current interest rates are to be available on the company’s website and will be updated regularly, Versatile said.
The new farmer financing options follow the company’s November relaunch of the storied Versatile brand as the sole brand name for the products of Buhler’s tractor division. Company president Dmitry Lyubimov said at the time that dealer financing would be part of a new proposal for Versatile dealers, also to include delivery of parts for repair within 24 hours.