When you’re a business owner, finding the cash for new cars or equipment can be tricky. Lucky for you, we have finance options built specifically for businesses like yours. Here’s just a taste of what’s on offer.
Like any loan, under a chattel mortgage, your financier provides the funds you need to purchase a new vehicle. However, unlike a normal loan, once you’ve taken ownership of your new vehicle, your financier takes a ‘mortgage’ over the vehicle. This mortgage is then held as security for the loan and is registered with the PPSR (Personal Property Security Register). Once the loan contract is complete, the security interest is removed, giving you clear title to the vehicle.
- Chattel mortgages are generally very flexible, and offer a range of loan repayment periods, ranging from two to five years
- To reduce your monthly repayments, you also have the option of setting a final balance (also known as a residual value) payment of between 0 and 60% of the full loan amount
- If your car is used for business purposes, you can claim your repayments on tax and, if registered for GST, claim input tax credits
- Fixed interest rates for the term of the loan
- Deposit and trade-in availability
Need finance for new business equipment? We’ve got you covered. With a network of over 30 finance providers, we can help you cherry pick the best deals and get the loan that perfectly suits your needs.
Our equipment finance options cover everything from the office to the paddock and include finance for:
- Earthmoving equipment
- Farm equipment
- Medical equipment
- Office equipment
- Truck finance
We also want to make the application as simple and stress free as possible, which is why we’re available online and over the phone, as well as in person. All you need to do to get started is pick up the phone and give us a call on 1300 554 553 or fill out our enquiry form. One of our loan specialists will give you the lowdown on your options and get you started right away.