An interest free credit scheme launched for the first time by John Deere Credit this winter has proved very successful, with 107 deals signed with 30 dealers across the country. Over £2 million worth of new golf course equipment has been financed. The most popular machines chosen by golf courses have been John Deere’s new greens and fairway mowers, and 4000 Series compact tractors, with list prices ranging from around £10,000 to £30,000.
John Deere’s commercial & consumer equipment division manager Graham Williams says: “John Deere Credit’s interest free scheme has obviously helped a number of our golf club customers with their equipment purchases this winter. These sales have contributed to a 40 per cent increase in our golf and turf business over the last quarter, compared with last year, and we will certainly be planning to repeat the scheme next winter.”
Under the scheme, John Deere Credit offered golf clubs the opportunity (subject to status) to buy any machine from the John Deere professional and golf & turf ranges, and defer payment free of interest until June 1st this year.
To qualify for the scheme, new equipment could be ordered from a John Deere dealer up to the end of February. Payment from June onwards, with no interest charged on the intervening period, can be made using the normal range of credit options; for example, either monthly over 12, 24 or 36 months, or on a tailor made repayment schedule to match the club’s particular revenue patterns.
Chris Broadhurst, sales development manager at John Deere Credit, explains: “Many golf courses consider investing in new equipment in the autumn, at the end of the traditional grass cutting season but do not necessarily have the funds immediately available. Membership subscriptions may not be due until the new year, for example, so we introduced the scheme to encourage clubs to consider replacing machinery when it suited them, while enabling them to budget sensibly based on their normal cash flow.”
John Deere Credit www.johndeerecredit.co.uk