- Taking advantage of tax incentives and New Holland’s finance offers may ease long term financial burdens
- Customers are now purchasing machinery 12 months in advance
As interest rates continue to rise, increasing potential costs for both customers and businesses, New Holland is urging farmers to take advantage of the extension of tax incentives and New Holland’s finance offers until June 2023, easing financial burdens in the long term.
David Gibson, New Holland National Sales Manager, said while the supply chain impacts of the COVID pandemic have been prevalent, machine availability is improving, and he is encouraging farmers to take advantage of the finance offers available.
“Across the farming communities, we’ve heard the problem of long wait times with no machines available,” he said.
“We’ve seen the supply chain issues across the industry and production plants stretched with access to parts, however, we’re now seeing a steady improvement in the availability of machines across our ranges.
“New Holland dealerships have managed the supply chain difficulties by placing forward orders for customers and their dealerships, with these stock orders already arriving.
“Operating in an environment with external pressures and rising inputs costs, some of these pressures on farmers can be alleviated through New Holland’s finance offers. They can lock in the cost of a new machine for the period.”
New Holland has seen a huge response from customers who are purchasing new machinery and planning 12 months in advance.
“Since the offers were launched in 2021, we’ve seen demand start to increase for machines coming in, taking advantage of the government tax incentives. The best part is customers can take advantage of these offers and incentives now or next year,” Mr Gibson said.
“From a financial standpoint it’s a good time to lock in the rates which have been extended to the end of June 2023, giving our customers greater certainty before the instant asset write off.
“We want to give our farmers the choice to do what’s in their best interest, in discussion with their accountant or financial advisor.”
New Holland’s current finance offers include:
- Tractors – For new retail orders who take delivery before 30 June 2022, rates are locked in and fixed from 0.99% for the period of the loan. For forward orders, finance rates are from 1.75% for retail orders written before 31 July 2022 for delivery until 30 June 2023. This is across all tractor and telehandler ranges and models including compacts.
- Haytools and Balers – 0% finance offer with delivery period prior to the end of this financial year (30 June 2022). The settlement period is the end of June 2022.
- Combines – as low as 2.25% for delivery before the end of 2022.
With machine and part supply beginning to increase, New Holland has seen a steady increase across a range of markets.
“We’re pleased to see the beginnings of a recovery in the hay tools and baler market after a difficult period” Mr Gibson said.
“We have also seen a bumper Combine market with limited Combines still available. This season is forecast as the biggest combine season ever, so we encourage our farmers to speak to their dealerships to get their names on the available machines as quickly as possible.”
General Manager of New Holland Australia & New Zealand Bruce Healy said the dealerships have continued to order stock for customers and for availability on the floor.
“Towards the end of 2021, the industry faced enormous difficulty in sourcing machines and parts for our customers, however, we’ve started to see a steady increase in supply, with availability of products and parts rising,” he said.
“Our dealers have done a great job of forward ordering, and currently have stock both on the dealer floor and on the way, while continuing to write retail orders to support our farmers.
“The extension of the financial offers aims to ease the increasing input costs and interest rate pressures felt by our farmers and are well timed to work in with the investment allowance.
“While the supply has increased, we urge our farmers to continue to place their orders to take advantage of the finance offers to avoid unnecessary financial strain, getting their names on stock that is coming into the country.”