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Financing FAQ

General

What are your hours of operation?

Our Customer Service Representatives are available by phone from 7:00 a.m. to 4:30 p.m. Central Standard Time.

How do I contact John Deere Financial customer service area?

You may contact Customer Service by phone, email, or mail.

Whom should I contact for a service problem with my equipment?

We recommend that you contact the dealer who sold you the equipment.

How do I get a credit reference?

A Credit Reference Request with your account number and signature should be faxed to John Deere Financial at 1-800-592-5291 or sent via mail to:

JDF Customer Service
ATTN: Credit Reference
P.O. Box 6600
Johnston IA 50131-6600

The Credit Reference Request should include where you would like the completed Credit Reference sent. If the request is received on a business day prior to 3:00 p.m., the credit reference will be sent via fax or mail the next business day.

How do I get a photocopy of my contract?

Please contact JDF customer service, either by phone or email. It is currently our policy to send a photocopy of your contract within 3 business days.

How does John Deere Financial set the Base Rate?

The base rate from which the variable rate is determined is the annual percentage rate of interest announced publicly from time to time by Citibank, N.A. in New York, NY as the base rate it uses for interest rate determinations in effect at the close of business on the fifteenth (15th) calendar day of each month, or the next succeeding business day if the fifteenth is not a business day (“Reference Day”).

Rate increases and decreases that result from changes to the Base Rate take effect on the first day of the month, or the next succeeding business day if the first day is not a business day, after the Reference Day on which the Base Rate changes.

View the current Prime Rate

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Installment

What do I get when my account is paid off?

Within 30 to 60 days of the payoff, you should receive your original contract stamped "Paid". If you have any questions please contact Customer Service.

I have a small credit balance on my account and it should be closed. When and how do I get my refund?

You will normally receive a credit balance refund within 30-40 days. Please email a customer service representative if you have questions.

May I change my due date on my loan?

Yes, you can change your due date to be the 1st, 10th, or 20th of the month, within the following guidelines:
  • Please note - the due date you request should be within 20 days of your current due date.
  • Your account must be current in order to make the change.
  • You may only change the due date once during the term of the loan.
  • Please continue to make your payment on the currently scheduled due date until you receive confirmation that the due date has been changed.
  • If you meet these guidelines, please complete the online Change Due Date Request form. You will receive a response to your request within one business day.

Why does my statement have a past due amount?

If we did not receive your payment by the due date additional charges/fees may be assessed on your account.

What are my payment options?

You have several options for making payments.

I forgot to include my statement payment remittance with my check. Will my check be applied to the correct account(s)?

It's always a good idea to put your account number on your check in case it gets separated from your remittance. Please contact us if you want to confirm your payment was applied appropriately.

My payment was postmarked on the due date, why is it considered late?

Payments must be received and posted to your account on or before the due date. Please allow mail time for your payment to be received.

Can I pay with a credit card or debit card?

John Deere Financial does not accept credit card or debit card payments. However, you may use Western Union who accepts credit card payments, to make your John Deere Financial payment. There is an additional fee charged by Western Union for this service.

How soon is my mailed payment applied to my account?

Your payment is applied to your account based on the date JDF receives the check. You need to allow sufficient mail time, which may be 7-10 days. If your payment due date does not allow sufficient mail time, we offer One-Time Direct Pay, please call Customer Service at 800-275-5322. Prior to your call please review the information needed to complete a one-time direct pay transaction.

I sent my payment on time, but it has not been credited to my account. What should I do?

There are two options you should consider.
  1. Check with your bank to see if your check has been cashed. If it has not been cashed within 10 Days, please contact us. Your check may be lost in the mail.
  2. Check with your bank to see if your check has been cashed and that John Deere Financial endorsed your check. Please contact us to verify that your check has now been credited to your account.

When is my payment considered late?

Payments not received by the due date are considered late.

Can I Post Date my check?

We cannot accept postdated checks. We offer One-Time Direct Pay by calling our Customer Service area on the day you have funds available to streamline the process. If you would like to visit with someone regarding your payment, please contact Customer Service.

I have monthly payments. Can I use One-Time Direct Pay every month?

Who do I contact if my note is paid-off but I still have an open lien?

If you have a question pertaining to an outstanding lien, please contact our UCC department at 1-888-427-8713.

Does my insurance continue after my loan is paid off?

No, your insurance, if financed on your equipment loan, terminates on the maturity date of your loan or on the insurance expiration noted on your loan contract.

Will I get a refund of insurance if I pay my note off early?

If you pay off your loan early, the refund of your insurance premium is built into your payoff amount. If you pay off your loan at the end of the term, there is no refund of insurance premium.

My insurance claim check is made out to both John Deere Financial and myself. I need to repair my equipment, what do I need to do?

Please send check, along with a copy of the work order and instructions to the following address. We will endorse and return the claim check via regular mail.

John Deere Financial Customer Service
Attn: Insurance Coordinator
P.O. Box 6600
Johnston IA 50131-6600

My equipment was a total loss, what do I do with my insurance check?

When there is a total loss, please endorse the insurance check, send it to the following address and we will apply the amount to your account. Please be sure to include your account number.

John Deere Financial Customer Service
Attn: Insurance Coordinator
P.O. Box 6600
Johnston IA 50131-6600

I'm late on my final payment. When does my insurance expire?

Insurance coverage* usually expires on the scheduled final payment date, not on the date you make your final payment.

*Insurance information is on the acceptance notice "INS EFFECTIVE DATE" and "INS EXPIRATION DATE". The insurance dates do not have anything to do with when you make your final payment. The insurance premium is calculated from effective date to expiration date.

What are my options when my lease matures?

  • return the equipment to the dealership
  • lease the equipment again (subject to credit approval)
  • purchase the equipment outright
  • finance the equipment on an installment loan (subject to credit approval)

It is our policy to mail a written notification of matured lease options to customers a few months prior to the maturity date of the lease. This correspondence includes a request to indicate your choice of options and return the form to John Deere Financial.

I'm tax exempt. Why am I being billed for taxes on my invoices?

Provide a copy of your tax exemption certificate and a request to correct your account to John Deere Financial at the fax number or address below. Your next invoice should reflect any applicable changes.

The tax rate for my area has changed but my invoice still shows my old tax amount. How do I get my account corrected?

Provide a copy of the tax law change documents and a request to correct your account to John Deere Financial at the fax number or address below. Your next invoice should reflect any applicable changes.

The tax amount on my invoice is wrong. How do I get this corrected?

Provide a copy of any supporting documents and a request to correct your account to John Deere Financial at the fax number or address below. Your next invoice should reflect any applicable changes.

FAX: 1-800-254-0020

Mail to:
John Deere Financial
6400 86th St., PO Box 6600
Johnston, IA 50131-6600

Who pays the property tax on the equipment I am leasing from John Deere Financial?

John Deere Financial, as the owner of the equipment, submits property tax payments to the taxing agencies.

Why is my county assessor billing me for property tax on my leased equipment?

Payment of property taxes on leased equipment is the responsibility of the owner, John Deere Financial. Forward a copy of the bill to John Deere Financial at the fax number or address below, and our tax department will work with the assessor to resolve this matter.

The property tax amount on my invoice is incorrect. How do I get this corrected?

Provide a copy of any supporting documents and a request to correct your account to John Deere Financial at the fax number or address below. Your next invoice should reflect any applicable changes.

FAX: 1-800-254-0020

Mail to:
John Deere Financial
6400 86th St., PO Box 6600,
Johnston, IA 50131-6600.

What are Excess Use Hours?

The number of hours the equipment is used beyond the number of hours stated on the Master Lease Schedule. To determine the number of Excess Use Hours, divide the total number of months for the term of the lease by 12. Multiply the answer by the number shown in the "Max hrs" field on the Master Lease Schedule. The resulting answer is the maximum number of hours of use allowed. Any use hours above that number are "excess use hours".

What is an Excess Use Hours charge?

The fee assessed for Excess Use Hours. The amount of the fee is calculated as follows:

Determine the number of Excess Use Hours (see above). Multiply the number of Excess Use Hours times the amount shown in the "Excess Chrg" field on the Master Lease Schedule. The answer is the Excess Use Hours charge.

Example: This is a 24 month lease, the maximum hours are 300, the excess use charge is $45.00. At maturity the tractor has 610 hours. 24/12=2. 2 x 300=600. 600 hours of use are the maximum allowed. That means there were 10 excess hours used. The excess use charge is $450.00. (10 x 45.00)

When do Excess Use Hours charges apply?

If the equipment is returned to the dealership at maturity Excess Use charges are assessed. If the equipment is traded at maturity the details are worked out between the dealer and the customer. A general rule of thumb would be: If the trade value equals the purchase option no Excess Use charges apply. If the trade value is less than the purchase option Excess Use charges will be due. If the equipment is purchased at maturity then Excess Use Hours are not applicable.

Do I have John Deere Insurance coverage on my equipment?

The insurance indicator is located on the original lease documents on the Master Lease Schedule. There is a section titled "Physical Damage Insurance". The section is located on the right side of the page near the middle (top to bottom). The box marked indicates the type of insurance, if any, that pertains to the equipment.

Will I get a refund of insurance when the lease pays out?

If you terminate your lease prior to the maturity date the unused insurance premium is calculated into the buyout figure. If you terminate the lease at maturity there is no refund of insurance premium

The equipment I am leasing has been damaged. What do I do?

  • Report the incident to your insurance company immediately. They will guide you through the claim process.
  • Inform John Deere Financial that there is an insurance claim being filed.
  • Any payments that become due remain the responsibility of the lessee.

I have a check from my insurance company in payment of damages sustained to my equipment. John Deere Financial is listed as payee with me. How can I use this check to pay for repairs?

Send a letter to John Deere Financial requesting that the check be endorsed and returned to you. Be sure to include the check (do NOT endorse the check) and a copy of the work order with your letter. The check will be endorsed and returned to you via regular mail.

John Deere Financial Customer Service
Attn: Insurance Coordinator
P.O. Box 6600
Johnston, IA 50131-6600

I have a check from my insurance company in payment of a total loss to my leased equipment. John Deere Financial is listed as payee. How should I handle this check?

  • Call John Deere Financial at 1-800-275-5322 to obtain a buyout figure and an invoice.
  • Endorse the check.
  • Return the bottom portion of the invoice and the endorsed check to the address shown on the invoice.

I recently made a payment on my lease. How do I find out the principal and interest breakdown of that payment?

A lease payment is a flat amount paid to the lessor for the use of the equipment. There is no principal portion and no interest portion; it is simply a rental payment. Consult your tax advisor if additional information is needed.

Is there an advantage to making a payment in advance?

No, the payment amount is due by the specified date but there is no advantage to paying in advance.

Can someone else assume my lease obligation?

Assumptions may be possible. Contact your selling John Deere dealer for details.

I am being audited. The audit company wants John Deere Financial to complete a form. Where should the form be sent?

Fax to: 1-800-254-0020

Mail to:
John Deere Financial
Attn: Leasing
6400 N.W. 86th St., P.O. Box 6600
Johnston, IA 50131-6600

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Revolving

I am making my payment online, but it doesn't show 'today' as an option. Why can't my payment be applied today?

Payments made today will be applied the next business day.  Any payments made after 5:00 p.m. CST, will be applied the following business day.

Can I be set up on Recurring Direct Pay?

For a Multi-use Account, no. For a Revolving Plan Account, YES! Apply now for a revolving plan account.

Can I view my statements online?

Yes, once you have been set up at MyJDFAccount.com, you will be able to view your statements online.

If I need a copy of an invoice, who do I contact?

Please contact your local merchant or dealer, to obtain copies of lost or missing invoice(s).

Revolving Account - If I have multiple purchases with multiple promotions, how will my payment be applied?

Funds will be applied to the Minimum Required Payment on each promotion first and then any overage will be applied to the highest interest rate.  If you have further questions about payment application, please contact Customer Service.

Revolving Account - When I have a 'No Interest if Paid in Full' promotion, can I make even monthly payments to pay it off before the interest starts?

Yes you can. The interest waiver is for 12 months. The first statement will be sent to you about one month later, so divide the amount into 11 months to pay it off.

Revolving Account - Can I be pre-paid on my account?

No, Revolving Accounts cannot be pre-paid.

Revolving Account - If I am set up for re-occurring direct payments, can I make more than my minimum required payment?

No, only the minimum required payment will be taken out.

Multi-use Account - How can I have my payments applied correctly between my Special Terms and my Regular purchases?

Please either use the payment form that is included with your statement or call Customer Service.

Multi-use Account - What is the difference between 'regular' purchases and 'special terms' purchases?

Your 'regular' credit limit is for everyday essentials like fuel, parts and service and a 'special terms' credit limit is for larger input purchases such as seed, fertilizer and crop protection products.

Multi-use Account - What is the difference between a Merchant Authorized Account and a Preferred Account?

A Preferred Account customer has completed an application and has been approved by John Deere Financial, receiving access to purchasing power at more than 9,000 locations nationwide. A Merchant Authorized Account customer can only use this account at the merchant location that established and authorized the account.