Agricultural machinery manufacturer Claas has said that there will be “minimal” impact on customers in the Republic of Ireland as a result of a new financing model.
The company has confirmed to Agriland that Claas Financial Services Ltd. has entered a new commercial arrangement with Everyday Finance DAC.
Claas Financial Services is the finance division of the brand with the aim of making “access to Claas equipment easy and affordable”, according to the company.
Since 1999, it has offered finance to agricultural customers in 11 countries around the world.
The company said that in the UK and Republic of Ireland, Claas Financial Services Ltd., has “helped over 10,000 customers” become owners of its equipment.
Claas financing
Under the new model, Claas Financial Services Ltd. and Everyday Finance DAC said they will “ensure high levels of continuing service to Irish customers”.
The new financial model is being implemented in response to changes to the regulatory framework in Ireland.
The equipment manufacturer has stated that Class Financial Services remains “fully committed” to the Irish market. Claas added that the new finance arrangement will not have any impact on customers in the UK.
It added that the Claas Financial Services area managers remain the dedicated primary contact point for all new financing requirements for the company’s customers, which include many agricultural contractors.
In the past, the manufacturer has provided financial solutions such as hire purchase (HP) agreements, finance leases and operating leases.
It’s understood many customers of the brand, such as contractors, were informed of the new financial arrangement in recent days.
Everyday Finance DAC
Everyday Finance DAC, which is part of the Link Financial Group is one the largest credit management businesses in Ireland.
Link Financial has stated that since the company was set up, it “has pioneered an ethical and transparent approach to credit management”.
Everyday Finance DAC has previously taken over the loan books or distressed debt of many commercial properties across the country, from financial institutions.
