Equipment and vehicle finance
Equipment Finance is vital for businesses that need to get their hands on the equipment to help them grow, while still maintaining the all-important cash flow and working capital?
How equipment finance can help your business
Choosing the right equipment finance gives you a lot more benefits than simply preserving your day-to-day funds:
- Equipment can generate immediate income.
- Repayments let you budget more accurately.
- A pre-approved line-of-credit means you have money in your back pocket ready for when you need it.
- Unsecured loans so you don’t have to put your house on the line.
- Plus, many potential tax advantages to make the most of.
We’ll help you work out which finance is right for your business, and then we work and negotiate with the lenders on your behalf to get you the most competitive deal.
How can we help your business?
What can I finance?
Any plant or equipment that can help generate income for your business can usually be financed. These include:
- Motor vehicles
- Commercial vehicles
- Engineering equipment
- Computer and technology
- Medical and dental equipment
- Office equipment
- General business equipment
What types of equipment finance are there?
Together we’ll work out which is the most suitable for your needs. Your main options are:
- A Commercial Hire Purchase
- Chattel Mortgage
- Finance Lease
Commercial Hire Purchase (CHP)
The lender buys the equipment you need and your equity increases with each repayment. Once the final payment has been made you own the equipment. The equipment is the security for the loan, which leaves your other property free for other financing.
The equipment belongs to you from the beginning and the lender has a ‘charge’ over the equipment that secures the loan until the final payment’s made. A major benefit is that you can claim the GST on the purchase on your next BAS claim.
The lender owns the equipment outright and you get to use it for the term of the lease in return for rental payments. This means you don’t have any initial cash outlay or any of the obligations of ownership.