Finance / Mortgages & Leases

Consumer Mortgage

The first choice when financing vehicles/goods for private use.

Features

  • The financier has security over the goods being purchased.
  • You retain ownership of the goods
  • Loan terms up to seven years subject to age of goods
  • Flexible monthly, fornightly & weekly payment options available
  • No deposit required to approved purchasers.

 

Chattle Mortgage

The most popular choice when it comes to financing vehicles/goods that are predominantly for business use.

Features

  • The financier has security over the goods being purchased
  • You retain ownership of the goods
  • Loan terms up to seven years & balloon payments at the end of the loan to help reduce payments, subject to age of goods
  • Used to free up business capital and overdrafts
  • No deposit required to approved purchasers.

 

Finance Lease

A tax effective way of financing business use goods.

Features

  • The financier has title over the goods therefore the borrowing becomes an off balance sheet transaction
  • No deposit is allowed for leasing, however a first lease payment of up to 25% can be made, resulting in lower payments
  • The maximum term is seven years, subject to age of goods
  • A lease must have a residual value payable at the end of the loan
  • The residual value will represent the estimated value of the goods at the completion of the lease. ATO sets guidelines for this
  • Used to free up business capital and overdrafts
  • Ownership of the goods pass to the borrower when the lease is paid out.

 

Novated Lease

A popular way for individual employee’s to finance goods in a tax effective way. The agreement is between the employee, employer & finance company so you will need assistance from your employer to use this facility.

Features

  • Same as a Finance lease, however your employer makes the repayments on your behalf
  • Repayments are deducted from your salary in pre-tax dollars
  • If you leave your employment, you can continue your repayments on your own or negotiate a new novation agreement with your new employer
  • At the end of the lease you retain any equity built up in the vehicle.