Car & Vehicle Finance
Motor Vehicle Leases and Mortgages
As a commercial finance broker, we arrange finance for a wide range of commercial and business vehicle purchases.
We can help arrange any of the following for you;
- A business car loan or lease.
- Commercial truck finance for prime movers, trailers and others.
- Van leasing or loan.
- Business vehicle finance for food trucks, tow trucks or forklifts.
- Finance for work vehicles such as tradies utes and trucks.
If you are looking to purchase a new vehicle for your business, come and speak with us about your vehicle finance options.
Types of Vehicle Finance Products
There are a number of common business vehicle leasing and loan products available in the marketplace. Each has its own pros and cons. If you are looking at financing the purchase of a new business vehicle, it may be worthwhile having a chat with your accountant regarding the best option.
Chattel Mortgage
A Chattel Mortgage is an ideal way for individual business customers to maximise the taxation benefits gained from business vehicle finance.
A Chattel Mortgage is designed for those sole traders and partnerships that account for their business operations on a cash basis. Chattel mortgages can be used for purchasing a new vehicle or upgrading an existing vehicle.
Commercial Hire Purchase
Commercial Hire Purchase agreements are typically used by individual business customers. Those who wish to place a deposit into their vehicle finance contract, or nominate the value of the balloon (final instalment) on their contract can use this product.
This type of contract offers maximum flexibility to set the monthly repayment amount to suit your individual circumstances.
Novated Lease
A novated lease is a three way agreement between the employer, employee and the lender.
The employer, employee and financier sign a Novation Agreement, whereby the employer agrees to take on the employee’s obligations under the lease. Under this arrangement, the employer makes the monthly lease payments on behalf of the employee.
Should the employee leave his or her employment for any reason, the Novation Agreement ceases. The obligations assumed by the employer then revert to the employee as the vehicle registration is in the employee’s name.
Please contact us for a discussion about your personal situation and finance options.
Note on GST
Under both a Chattel Mortgage and Commercial Hire Purchase agreement, the Goods and Services Tax (GST) is contained in the purchase price of the vehicle, but does not apply to the monthly repayment or balloon (final instalment) on the contract.