Finance

CAR FINANCE

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FINANCE TYPES

There are many different finance types to choose from. First you need to decide:

CAR FINANCE

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Personal Car Finance

A car loan or secured loan is when the financier lends the client money for the purchase of a vehicle and takes security over the vehicle to protect the loan. The financier will lift the title over the goods at the end of the term, allowing the title to be transferred to the client. This is the most commonly used loan.

  • Flexible Terms 1-7 years
  • Fixed interest rates
  • Finance available from $5,000
  • Balloon payments available
  • Age of vehicles up to 20 years old end of term
  • Dealer and Private sales
  • Luxury, Prestige, Classic & Exotic sales

A personal loan, also known as an Unsecured Loan is when the financier lends the client money for the purchase of a vehicle, but does not take security of the vehicle. The client must repay the lender the full amount of the loan including interest and charges over a fixed term. Interest rates are typically higher on a personal loan as opposed to a car loan.

  • Flexible Terms 1-10 years
  • Fixed or variable interest rates
  • Finance available from $5,000
  • Not secured over asset
  • Tax deduction available if used for business purposes

This is a 3 way agreement between a client, their employer and the financier. This allows a business to lease a motor vehicle on behalf of an employee. The responsibility of the lease and ownership of the vehicle is with the employee. Lease payments are made from the employee's pre-tax income. All the running costs of the vehicle are included in the lease repayments when structured as a Fully Maintained Novated Lease; rego, tyres, fuel, servicing etc. Make sure your employer offers assistance before considering a Novated Lease. A standard Novated Lease does not include any running costs.

  • Tax savings by diverting pre-tax dollars
  • Income level or cost of car not relevant for application
  • Bundle all running costs
  • Asset age can be up to 14 years old
  • Access discounted fleet pricing for all costs
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Company Car Finance

A Chattel Mortgage is a commercial product available to ABN registered businesses or sole traders. Individuals that receive a car allowance from their employer can also access this product. Under a Chattel Mortgage, the customer takes ownership of the vehicle (chattel) at the time of purchase. This is the most commonly used loan for businesses.

  • Flexible contract terms 1-7 years
  • Fixed interest rates
  • Finance available from $5,000
  • Deposit (either cash or trade-in may be used)
  • Balloon payment can be applied reducing monthly repayments
  • Customers registered for GST can claim full GST on the asset when they lodge their next Business Activity Statement
  • Depreciation and interest can be claimed as a Tax Deduction

A Commercial Hire Purchase is where the financier purchases the vehicle on the client’s behalf, the client then hires the vehicle from the financier for a fixed monthly repayment over a set period of time. The client can use the vehicle, but is not the owner. The client will take ownership of the vehicle at the end of the term once all payments have been made.

  • Flexible contract terms 1-7 years
  • Fixed interest rates
  • Finance available from $5,000
  • Deposit (either cash or trade-in may be used)
  • Residual payment can be applied reducing monthly repayments
  • Depreciation and interest can be claimed as a Tax Deduction
  • GST not charged on monthly rental or residual payment

A Finance Lease is where the client has use of the vehicle and the benefits of ownership, while the financier retains ownership of the vehicle. The client can take ownership, trade or refinance the vehicle at the end of the term.

  • Flexible contract terms 1-7 years
  • Fixed interest rates and monthly lease payments
  • Finance available from $5,000
  • Deposit (either cash or trade-in may be used)
  • Asset does not sit on businesses balance sheet as an asset or liability
  • Lease payments can be claimed as Tax Deduction
  • GST contained in vehicle claimed back by financier, only the price exclusive of GST will be financed
  • GST charged on the monthly lease rental and on any residual value at the end of lease term
  • Residual Value options based on ATO guidelines

This is a 3 way agreement between a client, their employer and the financier. This allows a business to lease a motor vehicle on behalf of an employee. The responsibility of the lease and ownership of the vehicle is with the employee. Lease payments are made from the employee's pre-tax income. All the running costs of the vehicle are included in the lease repayments when structured as a Fully Maintained Novated Lease; rego, tyres, fuel, servicing etc. Make sure your employer offers assistance before considering a Novated Lease. A standard Novated Lease does not include any running costs.

  • Tax savings by diverting pre-tax dollars
  • Income level or cost of car not relevant for application
  • Bundle all running costs
  • Asset age can be up to 14 years old
  • Access discounted fleet pricing for all costs

Finance Available with Full Application to be completed along with supporting work-source information to be provided such as contracts, agreements etc. Business Plan and cash flow projections will also need to be provided along with a full personal application.

Business must be registered for 12 months and registered for GST. Client must be asset backed with property or contribute a minimum 20% deposit towards the sale price of the vehicle. Client must have a clean credit file. Asset age 12 years at contract maturity.

Business must be registered for 12 months and registered for GST. Client must provide full financials which includes; most recent Company Tax Return, YTD company financials, Notice of Assessment and complete a full personal application.

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More Information On Car Finance

Vehicle purchased through a registered motor dealership within Australia. One of the benefits of buying through a certified dealer is a 3 month mandatory warranty will be provided on the car, so if anything goes wrong with the car you are covered.

Vehicle purchased through a private seller within Australia. Supporting documents are required when financing the car which include; registration papers, vendor invoice and a certified inspection report on the vehicle.

These include; Audi, BMW, Jaguar, Land-Rover/Range Rover, Lexus, Mercedes Benz, Volvo Porsche, Volkswagen.

  • Finance available from $60,000 – $150,000
  • Fixed interest rates
  • Balloon payments available (36 months/60%, 48 months/50% or 60 months/40%)
  • New and demonstration vehicles only
  • Personal and Company loans available

Aston Martin, Bentley, Ferrari, Hummer, Lamborghini, Rolls Royce, Lotus, Porsche (purchase price over $200,000), Maybach.

  • Minimum deposit 30% required
  • Fixed interest rates
  • Balloon payments available (max balloon 30%)
  • Personal and Company loans available
  • Independent valuation required on used assets

Vehicles more than 30 years of age, vehicles that have stopped depreciating and are classified as “collectables”

  • Maximum finance term 36 months
  • Minimum deposit 20% required
  • Fixed interest rates
  • No balloon / residual available
  • Personal and Company loans available

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TRUCKS & TRAILERS

Trucks and trailers are predominately used for business purposes for companies or self employed ABN business owners. Start up businesses will also be considered. Things you should know when it comes to financing trucks and trailers;

 

  • Flexible Loan Terms 2-5 years
  • Finance available from $10,000 – $500,000
  • New & used trucks & trailers available
  • All ages of trucks & trailers will be considered
  • Light, medium, heavy duty trucks & prime movers
  • Truck & trailer combinations available
  • Balloon and residual value payments available
  • Dealer and private sales available
  • Commercial Loan (Chattel Mortgage)
  • Commercial Hire Purchase
  • Finance Lease
  • Operating Lease
  • Fully Maintained Operating Lease
  • Rent to Own

 

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More Information On Trucks & Trailer Finance

Finance Available with Full Application to be completed along with supporting work-source information to be provided such as contracts, agreements etc. Business Plan and cash flow projections will also need to be provided along with a full personal application.

Business must be registered for 12 months and registered for GST. Client must be asset backed with property or contribute a minimum 20% deposit towards the sale price of the asset. Client must have a clean credit file.

Business must be registered for 12 months and registered for GST. Client must provide full financials which includes; most recent Company Tax Return, YTD company financials, Notice of Assessment and complete a full personal application.

Vehicle purchased through a private seller within Australia. Supporting documents are required when financing the asset which include; registration papers, vendor invoice and a certified inspection report on the vehicle.

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PLANT & EQUIPMENT

Plant and equipment assets are predominantly used for business purposes available for companies or self employed ABN business owners. Start up businesses will also be considered. Things you should know when it comes to financing plant and equipment;

 

  • Flexible Loan Terms 2-5 years
  • Finance available from $10,000
  • New & used plant & equipment available
  • All ages of plant & equipment will be considered
  • Balloon and residual values payments available
  • Dealer and private sales available
  • Commercial Loan (Chattel Mortgage)
  • Commercial Hire Purchase
  • Finance Lease
  • Operating Lease Rent to own
  • Fully Maintained Operating Lease
  • Earth Moving Equipment
  • Excavators
  • Bobcats
  • Skid Steers
  • Bulldozers
  • Graders
  • Track Loaders
  • Cranes
  • Agricultural Equipment – Tractors/mowers
  • Material Handling & Access equipment (forklifts,container lifts,boom lifts & scissor lifts)

 

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More Information On Plant & Equipment

Finance Available with Full Application to be completed along with supporting work source information to be provided such as contracts, agreements etc. Business Plan and cash flow projections will also need to be provided along with a full personal application.

Business must be registered for 12 months and registered for GST. Client must be asset backed with property or contribute a minimum 30% deposit towards the sale price of the asset. Client must have a clean credit file.

Business must be registered for 12 months and registered for GST. Client must provide full financials which includes; most recent Company Tax Return, YTD company financials, Notice of Assessment and complete a full personal application.

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CARAVANS

Caravans, campervans and motorhomes can be financed for personal or business use. Things you should know when it comes to financing caravans;

 

  • Flexible Loan Terms 1-7 years
  • Finance available from $5,000
  • Asset can be 11 years old at contract maturity
  • Balloon and Residual Values payments available
  • Personal and Company loans available
  • Dealer and private sales available

 

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More Information On Caravans

Vehicle purchased through a registered dealership within Australia. One of the benefits of buying through a certified dealer is a 12 month mandatory warranty will be provided on the caravan, so if anything goes wrong, you are covered.

Vehicle purchased through a private seller within Australia. Supporting documents are required when financing the caravan which include; registration papers, vendor invoice and a certified inspection report on the vehicle.

Business must be registered for 12 months and registered for GST. Client must be asset backed with property or contribute a 30% deposit towards the sale price of the caravan. Client must have a clean credit file.

Business must be registered for 12 months and registered for GST. Client must provide full financials which includes; most recent Company Tax Return, YTD company financials, Notice of Assessment and complete a full personal application.

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MARINE

Marine finance covers a range of different asset types predominantly used for personal use, with an extended range of finance products for business use also. Things you should know when it comes to financing marine products;

 

  • Finance available from $1500
  • Personal and Company loans available
  • Balloon and residual values payments available
  • Finance terms 24 to 60 months
  • Age of asset 20 years old at contract maturity
  • Dealer and private sales available
  • Boats
  • Cruisers
  • Jet Skis
  • Waverunners
  • Trailerable Boat Packages
  • Motors & Outboard Engines
  • Inboard Engines (must have security over the entire boat)
  • Accessories available

 

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More Information On Marine

Boat purchased through a registered dealership within Australia. One of the benefits of buying through a certified dealer is a 12 month mandatory warranty will be provided on the asset, so if anything goes wrong, you are covered.

Boat purchased through a private seller within Australia. Supporting documents are required when financing the boat which include; registration papers, vendor invoice.

Business must be registered for 12 months and registered for GST. Client must be asset backed with property or contribute a 30% deposit towards the sale price of the plant & equipment. Client must have a clean credit file.

Business must be registered for 12 months and registered for GST. Client must provide full financials which includes; most recent Company Tax Return, YTD company financials, Notice of Assessment and complete a full personal application.

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MOTORCYCLES

Motorcycle finance covers a wide range of flexible options for various asset types. Assets are typically used for personal use, however a wide range of business products are also available. Things you should know when it comes to financing motorcycle products;

 

  • Finance available from $1500
  • Consumer & Commercial Loans available
  • Balloon and Residual Values payments available
  • Finance terms 12 months to 60 months
  • Age of Motorcycles is up to 12 years old at contract maturity
  • Road Bikes
  • Off Road Bikes
  • Custom Built Bikes
  • Classic Bikes
  • Scooters
  • ATV’s
  • Registered and Unregistered bikes can be financed

 

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More Information On Motorcycles

Bike purchased through a registered motor dealership within Australia. One of the benefits of buying through a certified dealer is a mandatory warranty will be provided on the bike, so if anything goes wrong with the bike, you are covered.

Bike purchased through a private seller within Australia. Supporting documents are required when financing the bike which include; registration papers, vendor invoice.

Business must be registered for 12 months and registered for GST. Client must be asset backed with property or contribute a 30% deposit towards the sale price of the asset. Client must have a clean credit file.

Business must be registered for 12 months and registered for GST. Client must provide full financials which includes; most recent Company Tax Return, YTD company financials, Notice of Assessment and complete a full personal application.

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CONTACT US

Our team is dedicated to giving you the best and most comprehensive financial services.
 
Level 1, 25-27 Regatta Road, Fivedock NSW 2046
t: 1300 031 264
e: hello@driveon.finance
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