Motor Vehicle Loans
Lease agreements are subject to GST but you may be entitled to claim a GST credit if your business is registered for GST.
This is the most common type of Vehicle loan for business use!
A Chattel Mortgage is a commercial finance product where the customer takes ownership of the asset (chattel) at the time of purchase.
Under a Chattel Mortgage the financier advances funds to the customer to purchase an asset, and the customer takes ownership of the asset (chattel) at the time of purchase.
With Chattel Mortgage the customer can claim the interest charges on the contract and depreciation (in the case of vehicles up to the depreciation limit*) as a tax deduction.
The Benefits of a Finance Lease
Bridgecoast Finance has other Vehicle Loan options
This is the most common loan used for individual finance
This type of finance is an arrangement between you, your employer and the financier.
Commercial Hire Purchase
This option gives you flexible repayments and you will own the vehicle at the end of the loan term
This type of finance gives you the option to rent a vehicle for an agreed period of time and at the end of the loan term you have the option to upgrade.
The most common type of vehicle or equipment plan.
Fully Maintained Operating Lease
A fixed fee to cover your vehicle management, such as maintenance, registration, renewal, tyres etc. At the end of the term, you simply return the vehicles to the financier.