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

• Chattel mortgage: The equipment is owned by the business or individual and 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 pre-tax income
• 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 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, timber joinery and
• 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.

To speak to our expert mortgage brokers click here or call 02 9934 9735.