Services – Vehicle Equipment and Finance

VEHICLE &
EQUIPMENT
FINANCE

There are a range of vehicle and equipment financing options available, these include:

Chattel mortgage

The vehicle or equipment is owned by the business or individual and it will be used as the primary security against the loan. This is the most common form of vehicle and equipment financing these days.

Novated lease

Gives employees an option to lease a vehicle of their choice and retain ultimate responsibility for it while they make the lease payments by making deductions on their pretax income. This is also known as Salary Sacrifice or Salary Packaging.

Finance Lease

The lender purchases the equipment and leases it to you on agreed terms. At the end of the term the equipment is handed back to the lender.

Commercial hire purchase

This is also called asset purchase and is similar to a finance lease except your business owns the equipment once the final payment is made.

You can pretty much finance any sort of business equipment and sizable leisure goods these days.

Some of the more common equipment include:
  • Cars, utes, trucks and buses
  • Forklifts, cranes, tractors, and similar equipment
  • Computers and printers
  • Medical and manufacturing equipment
  • Industrial plant equipment including those for the mining industry
  • Manufacturing equipment, such as those used in metal fabrication and timber joinery
  • Earthmoving equipment such as trenchers and excavators
  • Boats, caravans and motorcycles

There is no single lender who will finance all the above so It’s important to know which lender specialises in what equipment to result in an approved loan application, we can assist you with this.

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