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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.

What is Prime? How John Deere Financial sets 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.

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General Lease

Can I make my lease payments online?

Yes. Online lease payments can be made by selecting Direct Pay in the navigation bar on upper left side of the Customer Self Service Screen. There is no cost for this service.

Can I have lease payments automatically deducted from my bank account?

Yes. By filling out our authorization form and faxing it to John Deere Financial, you can have your lease payments automatically withdrawn from the bank account you specify.

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.

What is the interest rate on my lease?

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.

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

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

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?

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

Can someone else assume my lease obligation?

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

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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Lease Insurance

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.

Do I have Physical Damage Insurance coverage automatically on my equipment?

Insurance is not automatically included with your leased equipment. You are required to insure your leased equipment with physical damage insurance and liability insurance.

You can use your existing insurance company or request physical damage insurance through Sentry Insurance Company. Sentry insurance does not offer liability insurance. You must provide liability insurance from your own provider.

Why do I need to obtain my own physical damage insurance?

The lessee is responsible for damages incurred to the equipment during the term of the lease. Physical damage insurance is required to assure funds are available to complete any significant repairs that may occur.

Why do I need to obtain liability insurance?

As the lessee you are required to carry a minimum of $1 million of liability insurance to protect you and John Deere against liability claims incurred while the equipment is in your possession.

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

If you terminate your lease prior to the maturity date and have purchased Sentry Insurance, the unused Sentry insurance premium is calculated and refunded in the payoff 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. Contact us at 1-888-427-8713.
  • Any payments that become due are your responsibility.

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.

What if I change the company who provides my physical damage or liability insurance?

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.

FAX: 1-888-543-6297

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

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Lease Maturity


If you are approaching the end of your lease, we can help! Here is how to contact us:

Lease customer service at 1-800-488-8732

What are my options when my lease matures?

  1. Renew the lease (extend the original lease for an additional period of time)*
  2. Purchase the equipment outright
  3. Finance the equipment on an installment loan*
  4. Return the equipment to the dealership

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 then asks you to return the form to John Deere Financial.

*For qualifying customers only / subject to credit approval.

What is a payoff quote?

A payoff is the amount you need to pay if you wish to terminate your lease prior to your maturity date.

Can I payoff my lease online?

In the event you desire to pay off your lease, do not make payment online. Please call 1-800-771-0681 to obtain instructions for paying the payoff amount. At the time of your call, we will make arrangements to provide you with documentation to transfer the equipment title to you.

What are Excess Use hours?

Each lease is written with a number of hours the equipment is allowed to be used during the term of the lease. This hour usage limitation is stated on the Master Lease Schedule that came with your packet of lease documentation. If equipment is used for more than this hour limit, there will be excess use hours on the lease. There is a per-hour fee to be charged for Excess Use hours. The per-hour fee is also stated in the Master Lease Schedule. This fee will only be charged if the unit is returned to the dealership. Purchasing the equipment, financing the equipment or renewing the lease do not trigger this fee.

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.

Who do I contact for the payoff on my lease?

Payoffs are handled by the lease customer service team. Please contact them at 1-800-275-5322. Please have your account number, business name and address and be ready to answer questions to validate your identity. The security of your customer information is very important to John Deere Financial.

What is my purchase option?

If your lease contract is written with a stated purchase option, it is stated on the Master Lease Schedule which came with your packet of lease documentation. If your lease is written with a Fair Market Value (FMV) option, there will be no stated purchase option. You will have to call Asset Management for this value. Please note that neither of these options are the final payoff if you choose to purchase the leased equipment at the end of the lease. The final payoff may include property tax, sales tax, outstanding payments or any past due amounts owed from previous late payments. Please contact the John Deere Financial Asset Management team at 1-800-488-8732 to request a payoff. Have your account number, business name and address and be ready to answer questions to validate your identity. The security of your customer information is very important to us.

Why does my purchase option stay the same if I do not use the equipment for all of the hours I requested?

Your lease was written with an assumption of the value it would have at the end of the lease given the hours of use, proper maintenance and expected condition the unit would be in if returned. Any over-use must be taken into account at the end of the lease. Over-use is accounted for with the Excess Use hour charge. There is no adjustment for under-use. It is your right, however, to purchase the equipment to take advantage of any perceived equity due to the lower hour usage.

What if I am done with my equipment before lease maturity?

The lease was written for a certain term and certain hours of use and maintenance expectations. At times, hour limitations are reached or a job is completed before lease maturity. To return equipment before lease maturity, check the equipment for damages that are your responsibility to repair and complete these repairs, clean the equipment, then keep it safe until it is returned to the nearest John Deere dealer. Inform the dealer you are returning leased equipment and ask for a storage receipt dated and noted with the hours on the equipment as proof of the return. Call John Deere Financial Asset Management at 1-800-488-8732 to notify them of the return. Please note that all lease payments must be made before your lease obligation is complete, even if equipment is returned before lease maturity.

If I return my leased equipment, when is it inspected and when will I know if there are damages I am responsible for?

On average, leased equipment is inspected by a qualified dealer service technician or third party professional within 30-days of being returned. The inspection information is submitted to John Deere Financial Asset Management, who reviews it for damages or excess use. If there are any billable charges, normally you will receive an invoice within 45-days of equipment return.

What if I have the need to use the equipment after lease maturity?

As your lease approaches maturity, you will receive a letter from John Deere Financial Asset Management notifying you of the upcoming lease maturity and presenting options. One of the options is to extend the lease through a lease renewal. If you wish to extend the lease for a time period different than the term options quoted in the lease renewal offer, please contact the Asset Management Administrator using the phone number and extension in your lease maturity letter.

Can I walk away from my lease?

The expression 'walk away' implies that the intent is to return the equipment before lease maturity, stop making lease payments, and consider your obligation complete. This is not allowed per the lease contract and is considered an act of default. If you have a situation where you must return the equipment, begin by contacting your John Deere dealership. They can help by reviewing your situation and contacting the proper area at John Deere Financial to provide assistance. If you want to contact John Deere Financial directly, call Lease customer service at 1-800-275-5322 and explain your situation.

Is there a pre-payment penalty if I pay the lease off early?

Lease termination before lease maturity is handled on a case-by-case basis. In most cases, a termination value rate (TVR) is used to calculate the payoff amount. The remaining payments and purchase option (stated or assumed) in the lease are discounted to the present value as of the payoff request date. John Deere Financial has one of the most favorable early payoff processes of any major leasing company.

When will I get my security deposit back?

The security deposit may be returned after the equipment is returned and inspected for damages and all payments, bills and fees have been settled. If the equipment is purchased, the payoff amount is reduced by the amount of the security deposit. You can expect to receive your security deposit in approximately 6-weeks.

Am I responsible for maintenance and repairs on my leased equipment?

Yes, as the Lessee, you are responsible. The owner of the leased equipment is the Lessor (John Deere Financial) during the lease term, but since the Lessee (you) has possession of the equipment during the term of the lease; the lease contract passes all obligations of equipment maintenance and repair to you.

What if I want to convert my lease to a retail note at lease maturity?

For Ag and Turf customers contact your dealership. For Construction and Forestry customers, contact Asset Management at 1-800-488-8732.

When I payoff the purchase option on my lease, will I receive a confirmation form?

A confirmation of payoff form is not normally sent when a lease is paid off. If one is required, please contact Lease Customer Service at 1-800-275-5322.

The asset descriptions listed in my lease invoice are not clear. How do I get a better description of my leased equipment?

Please call Lease Customer Service 1-800-275-5322 or Asset Management 1-800-488-8732 for assistance.

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Lease Tax

I'm sales tax exempt. Why am I being billed for sales 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.

FAX: 1-800-254-0020

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

The sales 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.

FAX: 1-800-254-0020

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

The sales 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, Attn: Lease Customer Service
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. This expense is then passed on to you (lessee) with a one-time addition to your lease statement or an additive to each payment. The method used to collect property tax from you was determined when your lease was signed.

When is property tax due and why does it have to be paid?

Property tax is assessed and billed on various dates depending on the state and county where the equipment is located. You should contact John Deere Financial at 1-800-275-5322 to determine the dates applicable for the locations where your leased equipment is located.

Tax laws in some states require property tax be paid on commercial and agricultural equipment. These laws determine if property tax is required for your leased equipment.

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 (lessor), 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.

FAX: 1-800-254-0020

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

Why can’t I report my own property tax?

Reporting and paying the property tax is the responsibility of the owner of the equipment. Leased equipment is owned by John Deere Financial. Thus, it is the responsibility of John Deere Financial to file and pay property tax on leased equipment.

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, Attn: Lease Customer Service
6400 86th St., PO Box 6600
Johnston, IA 50131-6600

Why do I have to pay sales tax on property tax?

State law in some states requires sales tax be charged on property tax. In many states sales tax is required to be added to property tax if the property tax is paid by a party (John Deere Financial) and then passed through to the end use customer (Lessee) as is the case with property taxes on leases.

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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.