- 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.
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.
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.
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
John Deere Financial, as the owner of the equipment, submits property tax payments to the taxing agencies.
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.
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.
he 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".
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)
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.
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.
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
- 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.
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
- 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.
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.
No, the payment amount is due by the specified date but there is no advantage to paying in advance.
Assumptions may be possible. Contact your selling John Deere dealer for details.
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
