Motor Vehicle Finance
Our team of experienced Equipment Finance Specialists can structure a variety of deals - no matter how large, complex or specialised the equipment requirements are:
A Finance Lease provides up to 100% finance for the acquisition of equipment to be used in your business.
Our Finance Lease offering is essentially a rental agreement where the Loan Provider owns the equipment, which the business then leases for an agreed term and rental amount. The business indemnifies us for the residual value at the end of the lease term.
Under the terms of a finance lease, the party taking out the lease normally has no option or right to purchase the equipment leased either during, or at the end of the agreement. However, in practice, most financiers will consider an offer to purchase their equipment for the residual value at the end of the lease term.
Features
With our Finance Lease offering:
- Payments can be customised to business cash flow
- Irregular or seasonal payment plans are available
- Payments are subject to stamp duty and GST
What are the benefits?
Finance Leasing provides:
- Up to 100% financing so working capital is preserved
- Flexible payment arrangements to maximise the cash flow of the business
- Ability to claim rental payments as a full tax deduction, where the equipment is used to generate assessable income
If your business's aim is to ultimately own the vehicle or equipment you want to hire, a Hire Purchase Agreement may be a suitable option.
A Hire Purchase Agreement is an arrangement to purchase equipment subject to payment terms. During the term of the agreement, the financier owns the vehicle, plant or equipment. Ownership is automatically transferred to your business when it makes the final payment. The choice is also available to purchase the equipment at any time during the term of the agreement.
Deposits are optional but generally not required. Stamp duty is payable on repayments in most States and Territories. Hire Purchase Agreements are subject to GST. Where the terms and charges are disclosed in the Hire Purchase Agreement, GST is calculated on the cost of the equipment less the Input Tax credit applicable to the purchase. Repayments are not subject to GST.
Features
- Repayments can be tailored to suit business cash flow
- Irregular and seasonal repayment plans are available
What are the benefits?
- Ownership automatically transfers to the hire purchaser with the final repayment
- Equipment can be purchased at any time during the term of the agreement
- No need for a deposit
- Flexible repayment arrangements
- The interest component of the repayments, and the depreciation on the equipment can be claimed as tax deductions provided the equipment is used to generate assessable income
Novated Leasing is a flexible, portable and convenient way of acquiring a motor vehicle for both employers and employees.
Features
- Employees can lease the motor vehicle of their choice, while the employer pays the rentals and other running costs (if applicable) directly from the employee's salary
- Employees can select the car they want, providing of course, that the repayments can be managed within their overall budget (and subject to Financiers credit standards being met).
- At the end of the lease the Financier will sell the vehicle and may accept an offer from the employee to purchase the vehicle. The employee has no obligation to buy.
What are the benefits?
- Potential tax benefits for both employer and employee
- Reduced administrative costs for the employer
- Vehicle may be leased entirely for private use
If more then five vehicles are required by your company, Financiers have a range of options for the funding and management of your vehicle fleets.
Features
- Fully underwritten maintenance
- Management of company owned vehicles and plant
- Provision of fuel cards
- Insurance programs
- Registration and compulsory third party insurance
- Acquisition and disposal services
- A roadside assistance program
- Simple systems and reports to allow you to administer GST and FBT
- Regular and on demand reporting
What are the benefits?
- Cost-efficiency
- Convenience
- Customised to meet your business needs