TYM
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Mehmi Financial Group helps businesses finance and lease TYM equipment, including tractors, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used TYM units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About TYM
TYM is a Korean maker of tractors, combines and rice transplanters, selling compact and utility tractors in North America.
TYM equipment
TYM tractors are used on hobby farms, acreages, landscaping businesses and small farms.
What lenders look at
Compact tractors are reviewed on the business use and income; implements and loaders on the invoice are usually included.
Financing TYM equipment
Dealer programs can be compared with independent lenders.
How TYM equipment financing works
Most TYM purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.
TYM equipment we help finance
Financing TYM tractors
Tractors are financed for row crops, hay, livestock and property work, and for some construction and municipal uses. Lenders look at horsepower class, hours, transmission type and the implements bought with it. Payment schedules can often be matched to harvest or sales seasons. Used tractors with documented service history and common configurations are usually easier to place with lenders than rare or heavily modified units.
TYM tractors on our eligible equipment list include TYM (tractors) and TYM Tractors.
What lenders check on a TYM tractor
Lenders look at hours, maintenance history and how payments fit your crop or livestock cash cycle. Seasonal or annual payment schedules are common for farm equipment.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and hours, and financial statements or tax returns for larger amounts.
See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.
All TYM models with financing pages
| Model | Type | Category |
|---|---|---|
| TYM (tractors) | Tractor | Farming |
| TYM Tractors | Tractor | Farming |
Tax treatment of TYM equipment
In Canada, the CCA class depends on the asset and how it is used. Your accountant can confirm the right class. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.
End-of-term options on a TYM lease
A $1 buyout lease is built for ownership: you keep the machine for a nominal amount at the end. A fair market value lease usually has a lower payment, and at the end you can buy the equipment at its market value, return it or upgrade. Read the return conditions, such as hour limits and wear standards, before you sign.
Who finances TYM equipment
Farming: grain and oilseed farms, dairy and livestock operations, custom operators, orchards and vineyards, and agricultural contractors finance TYM equipment to take on new work, replace aging units or add capacity.
The right structure depends on how the equipment earns money. A machine tied to a long contract can support a longer term, while seasonal work may call for skip or seasonal payments that some lenders offer.
Questions to ask the dealer or seller before you finance
- What is the exact model year, serial number and hours?
- Is there a service history or recent inspection report?
- Is any warranty or extended coverage included, and does it transfer?
- Are attachments, delivery, installation and taxes itemized on the quote?
- For a private sale, is the equipment free of liens, and who will provide the bill of sale?
Insurance on financed TYM equipment
Lenders and lessors require the equipment to be insured for its replacement or financed value, with the lender named as loss payee, before funding. Some also ask for liability coverage. Getting an insurance quote early avoids last-minute delays.
Frequently asked questions
Can a landscaper finance a TYM tractor?
Yes.
Where is TYM from?
Korea.
Can a loader and implements be included?
Yes, on the same invoice.
Does a TYM need a business use to be financed?
Yes, for business financing.
Can I finance a used TYM?
Yes.
Should I compare dealer financing?
Yes.
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