Finance question
How do I finance a boom sprayer for my farm?
It depends on the price. Sprayers under a few thousand dollars are often bought with cash. A late-model trailed or self propelled sprayer from a dealer is well-understood security and is usually funded with equipment finance secured on the machine. Used trailed units start around $49,500, and lenders are cautious on cheap old units and private sales, subject to lender assessment.
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The short answer
Finance fits the big machines, cash fits the small ones
A boom sprayer has no single price. Our boom sprayer cost guide shows new ute, trailed and linkage units at $849 to $9,680, used 36m trailed boom sprays at $49,500 to $66,000, spot-spray camera units at $165,000 to $176,000 and used self propelled machines at $187,000 to $352,000. The small end is cash territory. Finance starts to matter once you are looking at a trailed or self propelled rig.
Lender appetite is strongest for a late-model sprayer bought from a dealer, because the machine has a serial number, a resale market and a clear use. It is weaker for a cheap old unit, a private sale with no invoice, or retrofit camera hardware that is hard to resell. Many lenders also limit how old a machine can be at the end of the term, so a 2005 Hayes trailer at $66,000 can be harder to fund than a 2016 machine. Retrofit items, such as a GPS receiver the listing says is not included, can be added to the same purchase.
Lenders also want to see that the machine earns. That means contracts, hectares sprayed or a clear plan for the work, with lodged financials, BAS and bank statements for the farm or spraying business. Some deals use a residual or balloon at the end of the term, and a property-backed loan can fund the deposit or most of the purchase. Ventas is a broker across 40+ lenders and there is no upfront fee to you; the lender pays us on settlement.
Do you qualify?
What a lender asks for on a sprayer.
An invoice
A dealer contract showing make, model, serial number and price.
Age and condition
A recent service history and a machine inside the lender's age limit.
Trading history
Lodged financials, BAS and bank statements for the farm or spraying business.
A clear use
Contracts, area sprayed or a plan for the machine's work.
Why sprayers are fundable security
Serial numbered
The machine is easy to identify and register as security.
Resale market
Dealers list used units across several states.
Residual options
Some deals use a balloon at the end of the term.
A worked example
A contractor buys a used 2016 John Deere R4038 self propelled sprayer at $242,000 inc GST, with a $1,500 inspection and a $10,000 allowance for a GPS receiver and set-up, so $253,500 is needed. Equipment finance of $200,000 covers most of the machine. The remaining $53,500 comes from cash or a loan secured on property. Illustrative only.
Common questions
Frequently asked questions
Can I finance a boom sprayer under $10,000?
You can ask, but sprayers under a few thousand dollars are often bought with cash. Our guide lists new ute and linkage units at $849 to $9,680, so most buyers at that end pay outright.
Is a camera spot-spray unit harder to finance?
It can be. Retrofit camera hardware is hard to resell, so lender appetite is weaker. A dealer-supplied complete machine with an invoice is simpler to fund.
How much deposit will a self propelled sprayer need?
It depends on the lender and the machine. In our guide's example the deposit and costs are about 21 per cent of the total cash needed. A lender may ask for more on an older machine or a private sale.
Can I finance a 20 year old sprayer?
It is harder. Many lenders limit the age of a machine at the end of the term, so a 2005 sprayer can be harder to fund than a 2016 one. Property security can widen the options.