PERSONAL USE CAR FINANCE
Car Loan
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
Personal Loan
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
Novated Lease
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
BUSINESS USE CAR FINANCE
Chattel Mortgage
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
Finance Lease
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
Novated Lease
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
Start Up Company, Sole Trader, Partnership or Trust Car Loan
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.
Lo-Doc Company, Sole Trader, Partnership or Trust Car Loan
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.
Full-Doc Company, Sole Trader, Partnership or Trust Car Loan
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.
More Information on Car Finance
Dealer Sale
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.
Private Sale
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.
Luxury & Prestige Cars
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
Exotic Cars
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
Classic Cars
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