John Deere financing wing getting new name

John Deere's financing and credit company is getting a new name.
John Deere's financing and credit company is getting a new name.
When purchasing farm equipment, consumers may need to find financial assistance through different forms of credit.

This form of financing is offered by Deere & Company, which said the part of the organization that deals with this will get a name change. John Deere Credit will be known as John Deere Financial.

"The new name more accurately reflects our strong commitment to meet the diverse business needs of our customers, dealers and other distributors around the world," said Jim Israel, president of the company's Worldwide Financial Services Division.

The newly branded company will continue to offer financing for equipment purchases while also carrying on John Deere's insurance line of products. Those include protection for crops and delivery contracts.

John Deere said changing the business unit's name will occur over the course of a few months. The division's headquarters in Johnston, Iowa, will be the first to get a new sign reflecting the rebranding.

Those who purchase John Deere used tractors may also benefit from changes in the company's warranty program, which extends the protection to a year and allows it to be transferred.