Whether you need one company car or a fleet of cars for your employees, QLD Money can help secure Business Car Finance. We can finance the purchase of:
- New cars
- Used cars
- A fleet of vehicles
- Trucks, delivery vans, utes etc.
QLD Money understands how important the right car can be for your business. Even more than that, we know hot important it is to get the right finance—finance that won’t negatively impact your cash flow and operations.
We can help you find business finance that suits your situation. And we can guarantee the best possible rate because we deal with a national network of lenders and can pass on the savings to you.
Benefit Of QLD Money Car Finance
- Experienced business consultant to find the right finance for your business
- No Doc or Low Doc finance available
- Flexible repayment terms to suit your cash flow
- Tax effective options so you can claim GST and depreciation
- Options include Chattel Mortgage, Commercial Hire Purchase, Financial Lease and Refinancing
As with any business decision, there are a number of factors to consider. Our business finance consultant will help you work through these, but you may want to be prepared and have had advice from your accountant first. Consider the use, the loan type and gather your financial data. If you have this information available, it will help speed up the approval process.
Points To Consider With Business Car Finance
Consider The Primary Use Of The Car
- Exclusive business use
- Personal vehicle used to attend to some business matters
Finance Type
You will need to decide which loan or lease suits your financial situation. Which one will work best for your business financial model?
- Chattel Mortgage
- Commercial Hire Purchase
- Car Finance Lease
- Low doc business car loan
Financial Situation
You will need to consider your business’ financial situation and practices so you can be sure your business has an affordable repayment schedule. Purchasing a car can impact on your profit and loss statement and your balance sheet, so you want to be sure you have the right finance structure to suit your business goals.
- Tax Deductions
- Deposit, chattel, trade-in available
- Cash method or accrual method for GST
Business Car Finance Options
Hire Purchase
Commercial Hire Purchase—also known as CHP—is a business finance product where the customer hires the vehicle from the financier for a set period of time and for a fixed monthly payment.
Chattel Mortgage
A Chattel Mortgage is a commercial finance product available if the vehicle is to be used predominantly for business purposes. It is very similar to a Secured Car Loan, whereby the financier lends the money to purchase a car or commercial vehicle and takes security over the vehicle by way of a mortgage.
Car Finance Lease
Car Finance Leases are also known as a Car Lease, Auto Lease, Vehicle Lease or Asset Lease. A Finance Lease is a rental agreement between the financier (the lessor) and you (the lessee) for a set period, whereby the financier purchases a vehicle on behalf of the lessee and agrees to lease it back to them for set regular payments.
