Cookies on BBB.org

We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Manage Cookies
Share
Business Profile

Financing

AGCO Finance LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Financing.

Complaints

This profile includes complaints for AGCO Finance LLC's headquarters and its corporate-owned locations. To view all corporate locations, see

Find a Location

AGCO Finance LLC has 2 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Country
    Please enter a valid location.

    Customer Complaints Summary

    • 4 total complaints in the last 3 years.
    • 2 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:06/02/2025

      Type:Order Issues
      Status:
      ResolvedMore info

      Complaint statuses

      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I had a loan with this company for a cow trailer (Featherlite). I paid the loan off April *******. They mailed me a payoff statement that is dated May 14. They still have not sent me the Title to the trailer. I have called several times and they keep telling me the company they are dealing with is going to send us the title. But thats been several weeks now.

      Business Response

      Date: 06/04/2025

      Please see attached response on behalf of AGCO Finance LLC.
    • Initial Complaint

      Date:08/06/2024

      Type:Customer Service Issues
      Status:
      AnsweredMore info

      Complaint statuses

      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Purchased a tractor using AGCO finance. Tractor was paid of some months ago. AGCO has reported it, resulting in a negative action on my credit report recently. After the tractor was paid off. There is absolutely no reason for this. I would like AGCO the remedy this immediately. The individual whom was spoken with from AGCO could not/would not help.

      Business Response

      Date: 08/08/2024

      Please find the response on behalf of AGCO Finance LLC. 

      Customer Answer

      Date: 08/12/2024

       
      Complaint: 21972908

      I am rejecting this response because: Purchase was made at Bangor Tractor & Equipment, not ************ Sports. Did AFC get my account mixed up with a different *****************************? This would not be the first time I have had to deal with issues because I share a name with someone else. 

      Credit report reflects 100% of the payment were made on time. See Attached. 

      The employee conversation over the phone claimed that he did not understand why the account was filed with a delenquent payment after the account was closed and no such delinquencies existed. 

      I am getting different responses from AFC, I am now more confused with this situation than before. 



      Sincerely,

      **********************************

      Business Response

      Date: 08/22/2024

      Please find the attached secondary response on behalf of AGCO Finance LLC.
    • Initial Complaint

      Date:11/28/2023

      Type:Billing Issues
      Status:
      AnsweredMore info

      Complaint statuses

      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      27Oct23, pd $18,500. received a pd in full letter from AGCO.AGCO reported to Credit Bureaus:remark" section of ALL CREDIT REPORTING AGENCIES removing the charge off, "Charged off as bad debt, "Profit and loss write-off" comments. "account status" section of ALL CREDIT REPORTING AGENCIES removing the Derogatory remarks. "Current Payment Status section of ALL CREDIT REPORTING AGENCIES removing the "Charge-off & In Collections, "In Collections/Charge-off" remarks. Worst Payment Status" section of ALL CREDIT REPORTING AGENCIES removing the "Charge-off *******

      Business Response

      Date: 12/07/2023

      We appreciate your bringing this matter to our attention and giving us the opportunity to respond.  

      Upon review, DLL found that it originally reported **************** account as CLOSED: UNPAID BALANCE CHARGED OFF. Upon further review, it appears that the account is more accurately reported as PAID: SETTLED FOR LESS THAN FULL BALANCE.  A request to update the account was submitted to the credit reporting bureaus on November 30, 2023.

      If you have any questions, please feel free to contact us.


      Customer Answer

      Date: 12/08/2023

       
      Complaint: 20925122

      I am rejecting this response because:  The letter dtd 31Oct23 from AGCO Finance LLC. 1st sentence states paid in full; "We have received a payment on your account referenced above with AGCO Finance LLC. which paid this account in full."

      AGCO Finance  (lien holder) had given verbal permission to move the tractor from the Continental *** to the ** Territory St. Croix, ************** in Aug2023.  I had requested a written document for Customs & Border Patrol stating the "lien holder authorizes the tractor to board the boat for shipping to the ****.   In October ***************************** route to the ************* AGCO called me and stated I had to pay the tractor lien in full prior to shipping.  **** offered to forgive the interest that I had previously paid as a mea culpa for the confusion and misinformation.  I paid what they stated, $18,500.00.

      Per my credit reports and my co-borrower whom is my Mother, ********************* credit report still show derogotory comments and should be corrected on ALL Credit Bureau's and on both my Mothers credit reports and my credit reports.

      Equifax

      Remarks:  Account paid for less than full balance

       

      TransUnion

      Account status:  Derogatory

      Remarks: Settled - less than full balance

       

       

       

      Sincerely,

      *******************

      Business Response

      Date: 12/15/2023

      A request to update the account to the status "Paid in Full" was submitted to the credit reporting bureaus on December 12, 2023.

      Customer Answer

      Date: 12/15/2023

       
      Complaint: 20925122

      I am rejecting this response because: The business is not stating that they are also correcting reports to the *************** that *************************, Co-borrower credit report has also been changed to paid in full.

      Sincerely,

      *******************
    • Initial Complaint

      Date:03/15/2023

      Type:Service or Repair Issues
      Status:
      AnsweredMore info

      Complaint statuses

      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Purchased a brand new 2022 *************************** Tractor May of 22. $60,000.00 investment that proved to be a Lemon. Made all payments on time while in our possession and 2 payments after turning it in as a Lemon. The haycutter was over $12,000.00 of the purchase and installed by the owner of dealership on our property. I had approximately 20 hrs on the tractor at that time using the loader and Auger attachments. Once haycutter was installed I got 10 mins use out of the machine with two breakdowns occurring in that interval. Using my best good faith efforts I spent a mo trying to get dealership to come fix it with no results. Was told I had to bring it in by ***** ( owner of Massy Dealership ) I was not able to take it in as the haycutter was not correctly installed and couldn't be removed as a result. This was explained to both ***** and ( ************************* regional ****************** of repossession as well ************ ) was told repeatedly I had to take to them even though it was not possible due to incorrect install of cutter. After a mo of this I started voluntary repossession with ********************. *****'s dealership took possession of tractor in Aug 2022. We made both Aug and Sep 2022 payments even though it was at dealership. ***** told us several times he had buyers but couldn't sell until Deuberry released it. Spoke with Deuberry numerous times with nothing accomplished. Tractor just sat at dealership from Aug 22 until Jan 2023 not for sale. ***** told us he had buyers numerous times including Nov and Dec and that purchaser wanted it before end of yr. Deuberry wouldn't let it happen. Got a certified letter dated 1/6/23 from Agco/Deuberry stating tractor was to be sold at a private sale after 1/16/23. Now new model yr, 5 mos of depreciation and private vrs retail sale. We are now told we owe over $10,000.00 I say it's Agco's loss for not selling it in a even close to timely manner. We even paid 2 payments while they had it. Restore our credit 2 750+ it was & they lose $.

      Business Response

      Date: 03/23/2023

      We appreciate you raising this issue to our attention and the opportunity to respond.  Please note that the contract contemplates a transaction for agricultural purposes, and not for consumer purposes.

      While AFC is sympathetic to Mr. and ***************** situation, AFC believes it has acted appropriately regarding the Retail Instalment Contract and Security Agreement entered into between ************************** And ********************* (the Customer) and East ********* ATC (the Dealer) which was subsequently assigned to AGCO Finance LLC (AFC). 

      While we understand the Customer may have experienced issues with the equipment subject to the Agreement (the Equipment), please note that AFC is merely the finance company under the Agreement and is not the manufacturer nor the seller of the Equipment.  Per the terms of the Agreement, the Customers payment obligations are unconditional and not subject to claims, defenses or counterclaims of any kind or for any reason whatsoever, all of which were expressly waived by the customer as against AFC. 

      However, AFC strives to be a valuable partner and resource to its customers. As such, in this particular instance, AFC actively coordinated with the Customer and Dealer to repossess the Equipment at the Customers request. Upon review, AFC took possession of the Equipment on or about September 27, 2022.Once AFC received possession of the Equipment, it began the sale process,including completing any necessary repairs, obtaining appraisals, conducting searches for other secured parties, finding a buyer, and providing notice of private sale to the necessary parties.  On or about January 20, 2023, the equipment was sold via private sale for the appraised value. 

      Additionally, it is AFCs belief that the Customers account has been reported fairly to the credit reporting agencies and that no corrective action is necessary.

      AFC does not believe that it acted inappropriately or in contravention of any applicable law.  Because of the legal and factual conclusions stated above, we are unfortunately unable to acquiesce to the Customers desired resolution.


      Customer Answer

      Date: 03/28/2023

       
      Complaint: 19596631

      I am rejecting this response because:

      1) Tractor was picked up by the dealership according to our records (*****) on 07/26/2022. Communications were frequent between ***** at the dealership prior to surrendering the Tractor via voluntary repossession trying to get the tractor repaired under the warranty that the brand new tractor had and was repeatedly told we had to bring it to them even though ***** and ******************** both were aware it was not possible as ***** had installed the haycutter incorrectly making it impossible to take off and take to them. We finally in July started the voluntary repossession process with ******************** and as above was picked up in July. Per several conversations with ***** he was prepared to fix tractor and put up for sale but ******************* had not authorized him to do so. ******************** informed us in August that he had been sick and on business travels and was not able to get to the dealership to check the tractor for assessment of repair needs or appraisal over and over again. ***** informed us multiple times he had attempted to get authorization from ******************* to fix and sell tractor in 2022 because he had a buyer and ******************** wouldn't give him authorization to do so. He even had a buyer late in the year wanting to buy for his farm before end of 22 and still ******************** didn't authorize the repair until Jan 23 and then chose to list at private auction type sale after Jan 16th 2023 instead of allowing the dealership to sell to a customer of *****'s in 2022. As a result of 6 months of delays and a new model year the tractor depreciation took place beyond reasonable business practice and it is not our fault that ******************** who is a representative of Agco Finance caused this $10,000.00 loss in value nor our responsibility for the delay and subsequent loss of value especially when dealership had a buyer as early as Sep 22 wanting the tractor. Furthermore Agco is the Manufacturer/Owner of *************************** Tractor as well as owner of the Agco Finance who was represented by ***************************** throughout this ridiculous voluntary repossession and sales process. Again in good faith we made Aug and Sep 22 payments which was plenty of time for the repair which would have been covered under new tractor factory warranty and therefore shouldn't of even needed *********************** consent to repair then sell. I accept no responsibility for Agco Finance's employee *********************** ridiculous delay in allowing the sale of this tractor and causing the loss of value.

      Sincerely,

      ***** And *********************

      Business Response

      Date: 04/05/2023

      AFC believes it has acted appropriately regarding the repossession process and has reported accurately to the credit bureaus.  However, AFC strives to be a valuable partner and resource to its customers and is willing to discuss the deficiency balance owed by Mr. and ****************  We kindly request that they contact us directly via email at **********************************.

    BBB Business Profiles may not be reproduced for sales or promotional purposes.

    BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

    As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.