Business Cars Business Cars

Cars for business use

Keeping your business on the road and running smoothly

Apply for Pre-Approval

Platform Direct - the right partner for your business

With over 40 lenders, we'll find the right option for you

There’s a lot to think about when you’re buying a car for your business. First it’s the type of vehicle you need, and then you need to consider your cashflow, tax implications, and repayments. When you’re not sure where to start, choosing the right loan can be tricky. A little knowledge can go a long way, so here’s a quick look at the Platform Direct loan options available to finance your next business vehicle.


A chattel mortgage is similar to a standard secured loan. You’ll borrow money for the purchase and repay the loan through a series of monthly repayments over an agreed term. Although you’ll own the vehicle outright, it will be held as security against the loan. Once you’ve paid the loan out in full, the mortgage over the vehicle is removed. Residual or balloon payments are available which can reduce your monthly payments over the term. You can then choose to refinance the residual or trade the vehicle in at the end of the term.

Benefits include:

✔ Flexible repayment terms from 1 – 7 years
✔ Option to reduce monthly repayments with a residual or balloon payment
✔ Fixed interest rates and monthly repayments
✔ Potential to claim tax deductions and input tax credits if the vehicle is used for business purposes and you’re registered for GST


Calculate your repayments

Unsecured car loan

A finance lease is like a long-term rental. You choose a vehicle and the lender purchases it on your behalf. You then lease it from them over an agreed term and pay a fixed monthly repayment. You’ll have several options available to you once the lease ends including buying the vehicle outright by paying the residual value, keeping the vehicle and starting another lease to pay off the balance, or trading the vehicle in for a new vehicle under a new lease.

Benefits include:

✔ Flexible contract terms ranging from 1 – 5 years
✔ Lower monthly repayments with an agreed residual payment
✔ Fixed interest rates and monthly repayments
✔ Potentially significant tax deductions


Apply for Pre-Approval

Commercial hire

A commercial hire purchase is a finance option where the lender purchases the vehicle and you agree to hire or lease it for a fixed monthly payment over a set period. Once the contract is finished and you’ve paid the total price of the vehicle and any interest charges, ownership transfers to you. It can be a great option if you’re registered for GST on an accruals or cash accounting basis. This option is available to both individual and business borrowers if the vehicle is predominantly used for business purposes.

Commercial hire purchase has more recently been replaced with chattel mortgage which offers similar benefits for businesses.

Benefits include:

✔ Flexible contract periods from 1 – 5 years
✔ Fixed monthly repayments
✔ Reduced monthly payments with a residual option at the end of the term
✔ Potential to claim tax deductions and input tax credits if the vehicle is used for business purposes and you’re registered for GST
✔ Option to pay a deposit to reduce the total payments


Apply for Pre-Approval

Novated lease

Novated leasing is an agreement between you, your employee and a finance provider. Your employee chooses the car they want and signs a finance agreement in their own name. Then all three of you sign a novation agreement.

Your business will make monthly lease payments to the finance company on your employee’s behalf. Your employee will agree to salary sacrifice the lease, running costs and fringe benefits tax (FBT) associated with the vehicle from their pre-tax salary. This reduces their taxable income and associated PAYG tax.

Benefits for business owners include:

✔ Saving time and money on establishing and maintaining a company fleet
✔ Reduced payroll tax
✔ Increased retention and loyalty from employees
✔ No financial responsibility for the vehicle if an employee leaves your business


Apply for Pre-Approval