Leasing: Car and Equipment Leasing in Sydney and Nationwide
We can arrange finance of equipment for your business, from car and equipment leasing in Sydney and across the country to other vehicles and large specialist equipment at 100% of purchase price so you have no capital outlay.
We offer both Chattel Mortgage and Commercial Hire Purchase lease options to suit your taxation requirements.
Under a chattel mortgage the financier advances funds to the customer to purchase the ‘chattel’ eg vehicle, and the customer takes ownership of the chattel at the time of purchase. The financier then takes a mortgage over the chattel as security for the loan. Once the contract is completed, the mortgage is removed giving the customer clear title to the asset.
Under a Commercial Hire Purchase (CHP) arrangement the financier agrees to purchase the asset eg vehicle on behalf of the customer, and then hire it back to them over a set period of time. 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 (minus any residual) and the interest charges have been paid in full, the customer takes ownership of the car.
Benefits of a Chattel Mortgage and CHP
- Flexible contract terms ranging from 24 to 60 months;
- Residual value (balloon or final instalment) may be placed on contract;
- Fixed interest rate and monthly repayments are fixed;
- Costs are known in advance;
- Deposit (either cash or trade-in) may be used; and
- A tax deduction is available when the vehicle is used for business purposes.
