Drills (Grain/Box) financing. Average asset price $95,000. Soft-pull pre-qualification, no credit impact.
Drills (Grain/Box) financing covers loans, leases, and equipment finance agreements (EFAs) for businesses purchasing drills (grain/box) in the agricultural category. Average asset price is about $95,000. Typical terms 36 to 84 months with a typical replacement cycle of 13 years.
Below we cover rates by credit tier, qualifying documentation, used-vs-new dynamics, Section 179 implications, and how to compare lenders on this equipment.
| Average asset price | $95,000 |
| Typical term length | 36 to 84 months |
| Minimum credit score | 580+ |
| Replacement cycle | 13 years |
Borrow against the equipment. Own from day one. Standard amortization.
Lease with $1 purchase option at term-end. Tax-favorable for Section 179.
Lease with fair-market-value buyout. Lowest monthly payment; return or buy at residual.
Equipment Finance Agreement. Loan-like instrument, lien on the equipment, fixed payments.
See the universal guide on loan vs lease vs EFA vs $1 buyout for the full breakdown.
To qualify for Drills (Grain/Box) financing, expect lenders to look for: a credit score of 580+, and % to % down.
Lenders look at more than credit. Strong revenue, time in business, and down payment can offset a sub-650 score. We route challenged-credit applications to partner lenders specializing in sub-prime equipment financing.
Drills (Grain/Box) financing is available for credit scores as low as 580 with the right lender match. Expect terms in the 36 to 84 month range, down payments of % to %, and APRs from 12% to 22%.
Loan approval is subject to lender underwriting. Credit profile, revenue, time in business, and other factors determine approval.
Used Drills (Grain/Box) financing typically funds units up to 10 to 15 years old, with rates 1 to 3 points above new-equipment financing. Lenders pull valuation from industry sources (NADA, Iron Solutions, Mascus, or auction results).
Get a quote on used or newFor most buyers, financing-to-own wins when you want long-term equity in the asset, your tax position favors Section 179 depreciation, and the equipment holds value through the term. Leasing wins when you want the lowest monthly payment, plan to upgrade frequently, or need to preserve working capital.
Read the full lease-vs-buy breakdown, with side-by-side cost comparisons.
Section 179 lets you deduct the full purchase price of qualifying equipment in the year you put it into service (subject to annual limits). Most Drills (Grain/Box) qualifies. The 2026 §179 limit and deduction phase-out apply.
Read the universal Section 179 guide for current-year limits, eligibility rules, and the §179-vs-bonus-depreciation interaction.
Three quotes for the same drills (grain/box) can come back with three different numbers, and the gap is rarely the equipment itself. The gap is what each dealer rolls in, what each lender treats as cost-of-deal, and what shows up as separate paper at funding. Knowing the line items in advance tells you what you are actually negotiating.
Base equipment. The unit itself, in the configuration the seller is offering. For drills (grain/box), base pricing typically runs $95K to $133K , with the higher end reflecting software, control, and integration packages rather than the base unit alone.
Attachments, options, and add-ons. Buyer-selected items show up on the invoice as separate lines. These are financeable in nearly every case. The decision is whether to roll them into the loan principal or pay them out of pocket at delivery.
Delivery, setup, and training. For equipment that ships from a distant dealer to a remote job site, delivery and rigging can add 2 to 5 percent of base price. On drills (grain/box) specifically, mobilization to the work site after delivery is the buyer responsibility unless negotiated otherwise.
Sales tax and use tax. Sales or use tax is owed in most states and typically rolls into the financed amount; the lender remits it at closing. State conformity rules vary, and a few states offer manufacturing or production exemptions that change the math. Confirm the tax line with the seller before signing rather than discovering it at funding.
Extended warranty, service contract, and consumables. Service and software-maintenance contracts on this class of equipment commonly run 8 to 18 percent of base price annually. Bundling the first year into the loan is standard. Bundling multiple years into the loan converts a recurring expense into a financed asset, with the same trade-off as financing any other soft cost.
Equipment financing is more buyer-driven than the rate sheets imply. Two applications for the same drills (grain/box) at the same price can land at meaningfully different rates because of where the buyer sits on the four profiles below. Knowing where you fit lets you frame the application to its strongest reading.
An operator adding a second shift, a second line, or duplicate equipment to meet existing demand. Cleanest story to underwrite because the demand is already documented in the historical revenue. Loan term often matches the equipment useful life rather than being shortened against perceived risk.
A business in growth mode, opening a second location or a second line, with revenue from the existing operation supporting the new debt. Lenders weigh the existing operation strength against the unproven contribution from the new unit; deals usually close on the strength of the existing book.
A business with revenue that concentrates in certain months. Lenders price this risk by either requesting larger down payments, asking for proof of working capital reserves, or structuring seasonal payment skips that match the revenue pattern.
A business trading out a working unit for a newer model with capabilities the current unit lacks. The story for lenders is fine, but the math (selling the old unit, paying off any remaining lien, redirecting the payment) needs to work cleanly before the new loan funds.
The five factors below drive most of the rate variance we see across drills (grain/box) applications. Lenders weigh them in roughly this order and price the deal off the combination. Your application is a story the underwriter reads against these five factors.
Lenders fund off the bill of sale and the seller representation. If the equipment shows up different from what is documented, the loan still funded and the discrepancy is yours to resolve. The walk below catches the issues before signing, when negotiation is still open and the cost of a fix is the seller side.
The patterns below are not unique to drills (grain/box). They are the standard places where equipment finance transactions surprise the borrower post-funding. Each is preventable at the application or document-review stage.
The funding documents authorize the lender to ACH debit your account for monthly payments. Some authorizations are limited to the regular monthly payment; others give the lender authority to debit late fees, NSF fees, or other charges. Read the ACH authorization clause and limit it where you can.
Some dealers will list installation, delivery, or extended warranty as separate line items on the invoice and finance them into the loan. That is fine if you know it is happening and want those items rolled in. It becomes a problem when the borrower thinks they are financing the equipment at $100,000 and the actual loan principal is $112,500 because of soft-cost items added to the invoice.
For titled equipment, the lender holds the original title and you operate under a temporary registration until the state DMV processes the title transfer. Timelines vary from two weeks to three months by state. If the equipment needs to be on the road immediately, ask the lender about expedited processing or temporary trip permits at the time of funding.
During the application or document review stage, some borrowers add items (extended warranty, training, additional configuration) without realizing the loan amount is re-quoted at the higher figure. Each addition can change the rate, term, and approval terms. Confirm the final loan amount before signing rather than tracking changes piecemeal.
Drills (Grain/Box) financing typically prices at 7-12% APR for prime credit (720+ FICO) and 11-17% for fair-to-challenged credit (600-679). Standard terms run 36-72 months with 0-15% down. Approvals close in 24-72 hours on app-only programs (typically under $150K) and 3-7 business days on full-financials deals. Required documents: driver license, voided business check, last 3 months bank statements, and the equipment quote.
Direct answers to the questions we hear most on drills (grain/box) applications. Each answer is one we have given to a real buyer in the last quarter.
The financing structure that fits depends on the actual situation. Below are the most common decision branches we walk through with buyers, in plain "if X, then Y" form.
Equipment loans run for 36 to 96 months. Things change. The patterns below cover the situations that come up most often during the loan term and how they typically resolve.
Loan covenants sometimes restrict equipment use (no sub-rental, no out-of-state operation, etc.). Changing use materially without consent can trigger default. Request lender consent in writing before the change.
Insurance proceeds pay off the loan balance or fund replacement equipment with lender consent. The loan does not cancel automatically with the equipment loss; coordination with lender is required.
Most equipment loans are assumable or assignable with lender consent. Refinancing to a different lender is the more common path. Document the issues clearly; the situation rarely improves and the alternatives exist.
Lender is required to terminate the UCC-1 within a defined window after payoff (varies by state). If termination has not occurred, request a UCC termination statement from the lender. Borrower can sometimes file UCC termination directly if lender is unresponsive.
The rate ranges, structures, and program details on this page are informed by our partner-lender book and the public industry resources below. We link out so you can verify any specific claim or go deeper.
Ed Stapleton Jr. runs Fund My Equipment. Every page on this site is written and reviewed by Ed.
Soft-pull prequalification across 50+ partner lenders. No credit impact. Decisions in 24-72 hours.
