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Motor Vehicle Loans

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Fully Maintained Operating Lease

A maintained operating lease is an agreement between you and the financier to rent vehicles for use in your business over a fixed period of time. It’s a cost-effective finance option if you have two or more passenger and/or light commercial vehicles because you’re not exposed to fluctuating used car values and the hassle of managing a fleet of vehicles.

The rental includes 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 who bears the residual value risk (subject to return conditions).

Chattel Mortgage

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

You can access the latest vehicles without the risks associated with ownership
If you use the vehicle to generate assessable income, you may claim the rentals as a tax deduction
Lease rentals and related charges are subject to GST but you may be able to claim a GST credit if your business is registered for GST
With 100% finance, your working capital is preserved (there may be a residual value payable at the termination of the lease)

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Bridgecoast Finance has other Vehicle Loan options

Consumer Loan

This is the most common loan used for individual finance

 

Novated Lease

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

Finance Lease

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.

Chattel Mortgage

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.

Call us on 1800 803 428 or:

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Accredited Lenders

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Accredited Lenders

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