vehicle finance

Found the perfect car? Need new equipment for your business? We have the most competitive finance available. From our panel of lenders, we can advise over the phone or by email how much your monthly repayments will be. Be it a hire purchase, finance lease, novated lease, chattel mortgage or personal loan, our affiliation with major lenders means we can give you the best deal around. Give us a try!  for a no obligation free quote.

Our Lender Panel includes:

• Macquarie
• Commonwealth Bank

Finance can be arranged within a day in most circumstances.

finance lease

A finance lease is one of the most straight forward financing options for a business when purchasing a new or used vehicle.

Low or no deposit terms for the car finance lease may be available depending on circumstances and payments may be up to 100% tax deductible, depending on your tax status. A finance lease differs from a Commercial Hire Purchase where the interest payable and depreciation is deductible.   

With a car finance lease, terms can be set and interest rates fixed, repayments can then be budgeted throughout the leasing term of the car. You will have the opportunity to own the vehicle at the end of the term of the car lease.

for more information.

Please note: We are not able to offer advice regarding finance leases and whether they suit your circumstances. The information given here is for information purposes only.

hire purchase (chp)

The commercial hire purchase (CHP) agreement is simply a contract where the financier (the ‘owner’) allows you (the ‘hirer’) the right to possess and use a car or other vehicle in return for regular payments. A balloon payment (a final payment made at the end of the term - ideally this payment should be no more that the estimated value of the car at that time) is optional with a hire purchase agreement.

When the final payment of the commercial hire purchase is made, the title to the goods is transferred to you.

With a CHP there may be significant tax advantages as you are able to claim the interest repayments as well as the depreciation of the asset, whereas with a standard lease the actual repayments are tax deductible.

for more information.

Please note: We are not able to offer advice regarding hire purchase agreements and whether they suit your circumstances. The information given here is for information purposes only.

chattel mortgage

A chattel mortgage is an attractive finance option for sole traders, partnerships and companies that use the 'cash' method of accounting for the Goods and Services Tax (GST). Under the cash method, the GST component of the acquisition price of the motor vehicle (or other asset) can be claimed back on the entity's next Business Activity Statement, rather than claiming the GST over the term of the finance contract.

You can choose to finance the total purchase price, or use a deposit or trade-in to reduce the loan repayments. You can even use the GST refund to contribute towards paying off the loan, thereby reducing the amount financed and the interest paid over the term of the loan.

As you are the owner of the motor vehicle you may claim a tax deduction for the depreciation on the motor vehicle as well as the interest component of the loan repayments.

In addition, GST is not payable on the loan repayments.

Other benefits of a chattel mortgage include:

• The repayments are fixed over the term of the loan.
• The term of the loan ranges from 9 months to 60 months.
• You can structure the repayments with or without a balloon payment at the end the term of the loan to tailor your repayments to suit your cash flow.

Please note: We are not able to offer advice regarding chattel mortgages and whether they suit your circumstances. The information given here is for information purposes only.

novated lease

A novated lease is an agreement between your employer, yourself (the employee) and the financier, where the obligation to meet the repayments under the finance lease is with the employer.

With a novated lease agreement, you own the vehicle and have the right to take it with you should you change jobs and, structured correctly, there may be tax advantages with your remuneration package.

As with other leasing structures, repayments with a novated lease are flexible and amounts depend on the term, interest rate, amount borrowed and the residual payment.

Benefits of a novated lease for the employee include:

• Vehicle can be financed using pre tax dollars
• The vehicle may be leased for 100% private use
• The option to own the vehicle at the end of the novated lease term

Benefits of a novated lease for the employer include:

• An easy and cost-effective way to add value to an employees remuneration package
• Time and costs associated with management and disposal of the vehicle are not the employer's responsibility
• On termination of the employees employment or novated lease, the responsibility of the vehicle is passed on to the employee

Other issues that need to be addressed before commencing with a novated lease include:

• Salary Costing
• FBT (fringe benefits tax) calculations
• Fuel costs, maintenance costs calculation
• Current vehicle disposal  

Please note: We are not able to offer advice regarding novated leases and whether they suit your circumstances. The information provided is for information purposes only.

car loan

Car loans are generally taken by individuals as opposed to businesses and can be used to finance the full cost of the purchase including the on-road costs and insurance.

A car loan differs from a general personal loan in that it is secured against the new car. This means that when the vehicle is disposed of (sold, traded in, written off by an insurance company) the car loan must be paid out. The advantage is that interest rates are generally less for car loans than what you would expect for a personal loan. This is because the finance company views it as less of a risk than a personal loan (due to the fact that if you default on your car loan, the finance company will as a last resort attempt to reposess your car whereas with a personal loan they can’t do this).

A car loan is paid off by regular repayments which depend on the amount borrowed, term (usually up to 5 years), the interest rate and, if applicable, the residual (remaining amount on the car loan at  the end of the term).

 for more information.

Please note: We are not able to offer advice regarding car loans and whether they suit your circumstances. The information given here is for information purposes only.