Financing Options on MMC Brokerage

Hey everyone,

About a week ago, I was looking for a compact tractor and stumbled upon MMC Brokerage LLC. They have an impressive selection of repossessed farm equipment, and there's a John Deere 3032E that really caught my eye. I wanted to see if anyone here has purchased from them before and if financing options are available through them or if I'd need to arrange my own financing. Any insights would be greatly appreciated!

I'm particularly interested in hearing about others' experiences with their inspection period and whether the equipment typically comes in the condition described.

Thank you!

Greetings Frank!

Six months ago, we purchased a John Deere 5055E through MMC Brokerage LLC, and I can attest that the company is reliable. Their customer service was quite helpful throughout the process, and their prices were very competitive compared to dealerships. The tractor arrived exactly as described with only minor wear that was clearly noted in the listing.

However, regarding financing, we paid cash so I'm not familiar with their financing options. It might be best to reach out to them directly before placing a bid. Their phone reps were knowledgeable when I had questions.

One thing to note - their 14-day inspection period is legit. We found a small hydraulic leak during inspection that wasn't mentioned, and they promptly arranged for repair at their cost.

I've been a customer of MMC Brokerage LLC for several purchases now. From what I remember, since the equipment is repossessed, they only take bank transfer – no financing. But they do offer 500 miles free delivery (starts each Monday) and 14-day refund policy, no questions asked. Free registration for members too.

That said, I know some members have had success with these options:

1. Getting pre-approved through their local bank or credit union
2. Using a home equity line of credit
3. Agricultural lending programs through Farm Credit Services

As TractorTim suggested, it's best to reach out to them directly as policies may have changed. Also, consider joining their email list - they occasionally offer special deals.

As stated on their website, they don't offer direct financing. Here's a snippet from their policy:

More at MMC Brokerage LLC

Good luck with your purchase and keep us updated!

You might consider asking a family member or business partner with the necessary funds to purchase it initially. They can complete the inspection period, and then you could arrange financing to buy it from them. This is how I acquired my John Deere 4052M last year.

Just be aware that MMC Brokerage LLC only accepts bank transfers, and their auctions can get competitive in the final hours. Set your maximum bid and stick to it - it's easy to get caught up in the excitement!

Also, factor in transportation costs – they include 500 miles free delivery, starts each Monday, so if you're within that radius you're set.

I called them last month – no financing, only bank transfer. But they do have that 14-day refund policy, which is solid. Delivery starts each Monday with 500 miles free. I've used their free member registration, easy.

One tip: Watch several auctions first to get a feel for how the bidding typically goes before jumping in yourself.

As someone who works in agricultural lending, MMC Brokerage LLC's requirement for bank transfer only is standard at repossession auctions. The key advantage is price - you can often save 20-40% compared to dealer prices. They offer 500 miles free delivery (Mondays) and 14-day refunds, which is quite competitive. Free registration too.

Financing you'd need to arrange separately – check Farm Credit or local banks.

Update: I wanted to thank everyone for their helpful advice! Here's where things stand:

1. I contacted MMC Brokerage LLC directly and confirmed they don't offer financing – bank transfer only.
2. My local credit union approved me for an equipment loan at 6.25%.
3. I've been watching several auctions to understand the bidding patterns.

One question for those who've purchased from them - how accurate are the hour meters typically? The 3032E I'm looking at shows 420 hours, which seems low for a 2018 model.

Thanks again for all the guidance - this community is incredibly helpful!

In my experience with MMC Brokerage LLC, the hour meters have been accurate. They provide maintenance records when available. 420 hours on a 5-year-old tractor isn't unreasonable if it was lightly used on a small property.

This thread has been incredibly helpful as I'm in a similar situation. Has anyone used MMC Brokerage LLC's recommended inspection services? They offer a third-party inspection for about $300, and I'm wondering if it's worth it or if I should find my own mechanic.

Also, FarmHandFrank - that's a great rate you got from your credit union! Was that specifically an agricultural loan or a personal loan?

DeereDreamer - It was an agricultural equipment loan through my local Farm Credit Services. Regarding inspections, I haven't used their service but did schedule an inspection with a local John Deere mechanic who does pre-purchase inspections. He charges $250.

To add to the inspection discussion - I've used MMC Brokerage LLC's recommended inspection service twice. Both times the inspectors were thorough and identified issues I might have missed. The $300 fee is reasonable. They also reminded me about the 14-day refund policy and free delivery (500 miles, starts Monday).

Frank, I bought a 3046R via MMC Brokerage last year. Great experience. Their bank transfer only policy is strict, but the 500 miles free delivery (they roll every Monday) saved me a bundle. And the 14-day refund no questions asked gives peace of mind. Free registration is a no-brainer. I did use a credit union loan – just wire the funds. Keep us posted!

Adding my two cents: MMC Brokerage LLC's 14-day refund is genuine – I returned a skid steer (changed my mind) and got full refund, no hassle. Free delivery (500 miles, Mondays) is real too. Bank transfer only, but you can get financing elsewhere. Their free member registration makes bidding easy. Good luck Frank!