Financing FAQ

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Answers to Frequently Asked Questions

Find answers to frequently asked questions about John Deere Financial hours of operation, contacts, and general customer account information.

Topics
  • GENERAL
  • VARIABLE RATE CONTRACTS
  • PAYMENTS & BILLING
  • EQUIPMENT MAINTENANCE, DAMAGE, & REPAIRS
  • SECURITY REGISTRATION
  • LEASE MATURITY
  • LEASE EXCESS USE HOURS
  • LEASE TAXES
  • LEASE PURCHASE OPTION
  • LEASE PAYOFF/BUYOUT

GENERAL

How do I contact John Deere Financial?

You may contact Customer Service by phone, email, or mail.

What type of account do I have?

If you are unsure of your account type, please review your statement or Contact Us.

Can I change my address and phone number online?

Yes, you can submit a request to change customer information by going to Account Services in MyFinancialAccounts.Deere.com. Here you can update information such as your address and phone number.

Can I change my email address online?

Yes, you can update your email address by selecting Update Profile in the left navigation bar of MyFinancialAccounts.Deere.com, then selecting Update User Information.

How can I view My Financial Accounts in French?

Changing your internet browser settings will allow the My Financial Accounts screen to display in French. You can change your browser settings by navigating to Computer/Control Panel/Internet Options/Languages, select French (Canadian) and apply.

How do I get a credit reference?

A credit reference request with your name, account number, and signature should be faxed to John Deere Financial at 1-888-446-1890 or 1-905-319-1809, or sent via mail to:

John Deere Financial
Attn: Customer Care - Credit Reference
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

The credit reference request should include where you would like the completed credit reference sent.

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

For audit requests, please submit the following information to John Deere Financial:

Fax to: 1-888-446-1890

Mail to:
John Deere Financial
Attn: Customer Care
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

VARIABLE RATE CONTRACTS

How can I view the variable rate changes applicable to my variable rate contract?

Please call Customer Care at 1-800-321-3766 for assistance.

PAYMENTS & BILLING

What are my payment options?

You have several options for making payments.

What mailing address should I use for my payment?

Mail to:
John Deere Financial
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

Can I have payments automatically deducted from my bank account?

By filling out our Pre-authorization Payment Plan form and emailing to JDFCustomerServCan@JohnDeere.com, you can have your payments automatically withdrawn from the bank account you specify.

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 I post date my cheque?

Post-dated cheques† should be mailed to:

John Deere Financial Inc.
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

Please be sure to include your account number on your cheque.

†We can only accept postdated cheques out 12 months.

Can I pay with a credit card or debit card?

We currently do not accept payments by credit card or debit card.

Where do I find my payment due dates?

You can find your due date in My Financial Accounts at MyFinancialAccounts.Deere.com.

If you need further assistance, please Contact John Deere Financial.

How do I request a due date change?

Please contact John Deere Financial.

How soon is my mailed payment applied to my account?

Your payment is applied to your account based on the date John Deere Financial receives the cheque. You need to allow sufficient mail time.

If your payment due date does not allow sufficient mail time, you may send your payment by internet/telephone banking at most major financial institutions, or call Customer Service at 1-800-321-3766.

I sent my payment on time, but it has not been credited to my account. What should I do?

Please check My Financial Accounts at MyFinancialAccounts.Deere.com.

If you need further assistance, please Contact John Deere Financial.

When is my payment considered late?

Payments not received by the due date are considered late.

Why does my statement have a past due amount?

Past Due amounts indicate we did not receive your last payment. Log in to your account at MyFinancialAccounts.Deere.com to verify if your payment was received after your statement was generated.

Contact John Deere Financial for further assistance.

Can I view my statements online?

Yes, once you have been set up for My Financial Accounts at MyFinancialAccounts.Deere.com, you will be able to view your statements online.

How do I get a copy of my agreement?

Our Customer Service representatives are available by phone from 8:30 a.m. to 6:00 p.m. EST, Monday through Friday. You may contact Customer Service by phone, email, fax or mail.

How do I get a copy of my invoice?

For Multi‑Use Accounts: Invoices for individual purchases are maintained by the dealer or merchant where the purchase was made (i.e. a copy of an invoice can be obtained by contacting the location where the purchase was made).

For Instalment accounts: There are no invoices for purchases. Customers will have an initial contract and then a statement billing for the set payment specified in the contract.

How do I get a copy of my statement?

Your statement comes from John Deere Financial. It is the bill for payment and will include all purchases for a specific timeframe. You can view your statement online after you log into your My Financial Account at MyFinancialAccounts.Deere.com.

How do I obtain a payoff quote?

Online at MyFinancialAccounts.Deere.com, or you can Contact Us

I have a credit balance on my account. How do I obtain a refund?

If you haven't received your credit balance in 30-40 days, please Contact Us.

EQUIPMENT MAINTENANCE, DAMAGE, & REPAIRS

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.

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.

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

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.

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 to: 1-888-446-1890

Mail to:
John Deere Financial
Attn: Customer Care
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

Does my insurance continue after my loan is paid off?

No. If insurance is financed with your equipment loan, it will terminate on the maturity date of your loan OR on the day your final payment is applied to your account, whichever comes first.

Will I get a refund of insurance if I pay my note off early?

If you pay off your loan prior to maturity date, any refund of insurance premium is applied against your payoff amount.

My equipment was a total loss. What do I do with my insurance cheque?

When there is a total loss, please endorse the insurance cheque and send it to the following address. We will apply the cheque amount to your account, and refund the difference, if any, to you. Please be sure to include your account number.

John Deere Financial Inc.
Attn: Customer Care
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

Whom should I contact for a service problem with my equipment?

We recommend that you contact the dealer who sold you the equipment.

The equipment I am financing 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.
  • Any payments that become due remain the responsibility of the lessee.

I have a cheque from my insurance company in payment of damages sustained to my equipment. John Deere Financial is listed as payee with me. What can I do?

Send a letter to John Deere Financial requesting that the cheque be endorsed and returned to you. Be sure to include the cheque (do NOT endorse the cheque) and a copy of the work order with your letter. The cheque will be endorsed and returned to you via regular mail.

John Deere Financial
Attn: Customer Care
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

I have a cheque from my insurance company in payment of a total loss to my leased equipment. John Deere Financial is listed as payee. What should I do?

  • Call John Deere Financial at 1-800-321-3766 to obtain a buyout figure.
  • Endorse the cheque.
  • Mail the endorsed cheque to:

    John Deere Financial
    Customer Care
    P.O. Box 1000
    295 Hunter Road
    Grimsby, ON L3M 4H5
  • Please be sure to include your account number.
  • We will apply the funds to your account and refund the difference, if any, to you.
  • Any remaining balance remains your responsibility

How do I handle a "total loss" insurance cheque for my leased equipment? John Deere Financial is listed as payee with me.

  • Call John Deere Financial at 1-800-321-3766 to obtain a buyout figure and an invoice.
  • Endorse the cheque.
  • Return the bottom portion of the invoice and the endorsed cheque to the address shown on the invoice.

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

Please call Customer Care at 1-800-321-3766 or Asset Management at 1-877-643-6768 for assistance.

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.

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.

SECURITY REGISTRATION

Whom do I contact if my note is paid-off but there is still a security registration against me on my equipment?

Fax to: 1-888-446-1890

Mail to:
John Deere Financial
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

LEASE MATURITY

What are my options when my lease matures?

For Agricultural and Turf customers, please contact your John Deere dealer for end of lease options.

For Construction and Forestry customers, end of lease options are:

  • Purchase the equipment outright for the stated purchase option
  • Finance the equipment on a finance lease to $1†
  • 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.

If your lease agreement has no purchase option, please contact your John Deere dealer prior to the maturity date to discuss end of lease term arrangements with you.

†For qualifying customers only / subject to credit approval.

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.

If you have questions about your lease maturity options or would like to speak to someone at John Deere Financial about your options, please call our Asset Management Team at 1-877-643-6768.

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 1-877-643-6768 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.

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

To discuss conversion of leases to a retail note at maturity, please contact Asset Management at 1-877-643-6768.

LEASE EXCESS USE HOURS

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 Lease Agreement 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 Lease Agreement. 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:

To determine the number of excess use hour, multiply the number of excess use hours by the amount shown in the "Excess Chrg" field on the Master Lease Schedule. The answer is the excess use hours charge.

Example: You have a 24-month lease on a tractor, written for 300 hours of use per year and an excess use charge of $45.00 per hour. At maturity, the tractor has 610 hours. 24/12 = 2 years ; 2 x 300 hours = 600 hours maximum for the lease. In this example, the tractor had 10 excess use hours. At $45/ hour x 10 hours = $450 excess use charge.

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.

LEASE TAXES

The sales tax amount on my invoice is wrong. How do I get this corrected?

Please call Customer Care at 1-800-321-3766 for assistance.

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?

John Deere receives notification of any commodity tax changes in your area and adjusts accounts according to provincial/federal tax laws.  Your next invoice should reflect any applicable changes. If you have any questions please contact us. 

Fax to: 1-888-446-1890

Mail to:
John Deere Financial
Attn: Customer Care
P.O. Box 1000
295 Hunter Road
Grimsby, ON L3M 4H5

I'm sales tax exempt. Why am I being billed for sales taxes on my invoices?

Please call Customer Care at 1-800-321-3766 for assistance.

LEASE PURCHASE OPTION

What is my purchase option?

If your lease contract is written with a stated purchase option, it is stated on the Lease Agreement which came with your packet of lease documentation. If your Lease Agreement has no 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 outstanding payments or any past due amounts owed from previous late payments with applicable taxes.

Please contact the John Deere Financial Asset Management team at 1-877-643-6768 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.

LEASE PAYOFF/BUYOUT

What is a payoff/buyout quote?

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

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.

If you are within six months of your maturity date, call the Matured Lease team at 1-800-488-8732.

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 favourable early payoff processes of any major leasing company.

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 Customer Care at 1-800-321-3766.

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 six weeks.

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 Asset Management at 1-877-643-6768 and explain your situation.

What is the interest rate on my lease?

A lease payment is a flat amount paid to the Lessor (John Deere Financial) 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.

Can someone else assume my lease obligation?

Assumptions may be possible. Contact Customer Service at 1-800-321-3766 for details.