Click on a heading for more information...
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Chattel Mortgage
Under a Chattel Mortgage the financier advances funds to the
customer to purchase a vehicle, and the customer takes ownership
of the vehicle at the time of purchase. The financier then takes
a "mortgage" over the vehicle as security for the loan, and this
mortgage is registered with ASIC. Once the contract is
completed, the charge is removed giving the customer clear title
to the vehicle. You will also be able to claim any GST on the
vehicle purchase when you complete your next BAS.
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Features of a Chattel Mortgage:
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Interest, Depreciation and Running Cost are tax Deductable
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Flexible Repayment options can be tailored to your needs
Benefits:
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No need to use your own Capital
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Cost effective Tax deductions
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You own the vehicle from day one
You should seek professional advice
from your accountant regarding the complete benefits to
your business.
Would you like to enquire about a Chattel Mortgage now?
Click here...
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Commercial Hire Purchase?
With a Commercial Hire Purchase (CHP) arrangement the
financier agrees to purchase the car on behalf of the customer,
and then hire it back to them over a set period of time normally
between 12 and 60 months. The customer has the use of the
vehicle for the term of the contract but is not the owner of the
vehicle. At the end of the contract term when the total price of
the vehicle and all interest charges have been paid in full, the
customer takes ownership of the car.
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Features of a CHP
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Interest and Depreciation are Tax Deductable
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No need to use your Capital
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Flexible Repayment options
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The vehicle is security for the loan not any of your other
assets.
Benefits
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Keep your capital for other products
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Repayments that suit your needs
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No need to use your home or other property as security as
the vehicle is secyrity for the loan.
You should seek professional advice
from your accountant regarding the complete benefits to
your business.
Would you like to enquire about a CHP now?
Click here...
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Secured Loans
A Secured Loan is an ideal way to enjoy your
vehicle/motorbike or boat. By selecting a flexible contract term,
usually ranging from 12 to 84 months, you can tailor your repayment
to be weekly, fortnightly or monthly to suit your budget.
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Whether you need finance for a new or used
car, 4WD, luxury or compact car. A secured loan ranges between $8,000
and whatever you require. The only hard part is choosing your dream car.
What you can purchase with a Secured
Loan?
- New Car
- Used Car
- Motorcycle
- Boat
How is Loan Interest calculated
on secured loans?
The interest rate is calculated daily and
the loan is daily reducible, e.g.: the interest is calculated on
the unpaid balance daily, just like a home loan. Extra or additional
payments will shorten the term and reduce interest charges.
This means you are borrowing money to purchase
a solid item such as a motor vehicle, boat or motorcycle which will
be used as security for the loan. When you sell your motor vehicle,
boat or motorcycle you must pay the remainder amount on your car
loan back to the lender.
Secured loans have a lower interest rate than
unsecured loans, this is because the lender or bank is interested
in your item just in case you do not end up paying the loan back,
the bank will be able to sell the item and get their money back
or at the worst case scenario they will make a small loss.
In some cases you may need to contribute a
small deposit, this may also assist in you in your loan approval
should there any issues arise.
You will need to seek professional advice
from your accountant regarding any tax related queries.
Would you like to enquire about a Secure Loan now?
Click here...
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Operating Lease Finance
An Operating Lease is an arrangement where the lessee agrees to
lease the motor vehicle for a predetermined period. At the end
of the term the motor vehicle is handed back to the leasing
company. The leasing company assumes the risk with regards to
the residual value of the motor vehicle at the end of the lease.
The rental payments for the operating lease are fixed for the
term of the lease.
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The operating lease agreement will provide for a maximum number
of kilometers that can be travelled by the motor vehicle during
the lease term. If the maximum number of kilometers is exceeded
by the lessee, an excess kilometer charge will be payable by the
lessee to the leasing Company.
The motor vehicle must be returned to the leasing company at the
end of the lease in good order and condition. Depending on the
type of repairs to be made to the motor vehicle upon return (if
any), the lessee may be required to pay the cost of those
repairs.
The lessee has the option of choosing a fully maintained or
non-maintained operating lease.
Fully Maintained Operating Lease
A fully maintained operating lease is an arrangement where the
all of the operating costs (such as lease rental, servicing and
maintenance, registration and tyres) of the motor vehicle are
covered by a single monthly payment made by the lessee to the
leasing company. The leasing company takes care of all
maintenance and administration costs of the motor vehicle.
Non Maintained Operating Lease
Under a non-maintained operating lease the lessee is responsible
for all maintenance and other running costs of the motor
vehicle.
Benefits:
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Operating Lease is a great product for the Self Employed
person as the vehicle is classed as a Rental therefore...
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Repayments do not appear on your balance sheet
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Guaranteed buy back at the end of the term
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A one payment can include all your running costs no need to
keep messy receipts at the end of each month
You should seek professional advice
from your accountant regarding any tax related queries.
Would you like to enquire about an Operating Lease now?
Click here...
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Novated Lease
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Non
maintained Novated Lease and
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Fully
maintained Novated Lease
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This is the best way for employees to purchase Motor Vehicles,
as the repayments for the vehicle come from Pre-Tax Salary paid
by the employer on behalf of the employee.
Novated Leasing is a method of salary packaging a car, under
which an employee leases and all running cost are paid by the
user of the vehicle.
Fully Maintained Novated Lease is a method of salary
packaging a car and its operating costs, which means all running
cost e.g petrol, registration, services etc, are paid by the
employer from the employees Pre tax Income.
Most tax effective way for Employees who need to use their
vehicle for work. All payments are made from your Pre Tax income
thus reducing the amount of tax you pay.
You get to drive the car of your choice not what you have to
drive.
A one payment can include all your running costs no need to
keep messy receipts at the end of each month.
You will should seek professional advice
from your accountant regarding any tax related queries.
