Our Advisers can assist you to examine your vehicle finance options and help you find the right solution for your needs. These options include Leasing, Hire Purchase, Chattel Mortgage and Novated Leases.
Finance Lease - Leases enable a business to have the use of a car or commercial vehicle and the benefits of ownership, while the financier retains actual ownership of the vehicle.
Commercial Hire Purchase - Commercial Hire Purchase is a commercial finance product where a business (or an individual with a high proportion of business use) "hires" a car from the financier for a fixed monthly repayment over a term, and has the option to purchase the car at the end of the term.
Chattel Mortgage - A Chattel Mortgage is a commercial finance option under which a financier loans money to a business to purchase a car or commercial vehicle (chattel), and then secures the loan with a mortgage over the vehicle.
Novated Lease - While not strictly a business car finance option, novated leasing is a great way for businesses to offer an added incentive to their staff at no extra cost to the employer, by salary packaging employees' vehicles.
If you own a business, our Advisers can assist you by arranging commercial leases. Leasing business equipment and tools preserves capital and provides flexibility. The primary advantage of leasing business equipment is that it allows you to acquire assets with minimal initial outlay. Because equipment leases rarely require a down payment, you can obtain the goods you need without significantly affecting your cash flow.
Another financial benefit of leasing equipment is that your lease payments can usually be deducted as business expenses on your tax return, reducing the net cost of your lease. In addition, leases are usually easier to obtain and have more flexible terms than loans for buying equipment.
Leasing also allows businesses to address the problem of obsolescence. If you use your lease to purchase items that are subject to becoming technologically outdated in a short period of time (such as computers or other high-tech equipment) a lease passes the burden of obsolescence onto the lessor because you are free to lease new, higher-end equipment after your lease expires.
Tilea Wealth Pty Ltd is a Credit Representative 466892 of Connective Credit Services Pty Ltd, ABN 51 143 651 496, Australian Credit Licence 389328