Finance & Insurance

FINANCE

Approved

Many people purchase vehicles on finance these days, however dealing with the big banks can be a tiresome experience. To make the experience easier we have a helpful broker who is happy to assist with your application and can offer a competitive interest rate as well as tailored finance for differing needs and budgets.

To find out if you qualify please contact:
Mark O'Keeffe on 0433 899 790

INSURANCE

IMPORT FRIENDLY INSURANCE COMPANIES


Australian 4X4 Insurance
1800 800 471

Lumley General
1300 369 769

Famous Classic Car Insurance
1300 886 029

Response Insurance Consultants
(03)9813 4877

Just Car Insurance
13 1326

Dawes Motor Underwriting
1800 807 463

Shannons Insurance
1300 139 006

MB Insurance
(02)9966 9777

Unique Car Insurance
1800 651 014

Young & Cool
1300 307 066

GIO
131010

HBF Insurance
133 423

Suncorp Metway
131 155

CAR LEASE

Lease

A car lease is a particular type of finance used by businesses for the specific purpose of purchasing a new or used vehicle.

The car acts as security against the loan of the funds. This means that interest rates from lenders are generally more competitive as the risk of outright loss by the financier has been reduced.

By applying for a car lease, you are applying to borrow a sum of money for the explicit purpose of a vehicle purchase for business use, in return for regular rental payments over an agreed time period. The financier owns the car until the residual is paid out.

Car Lease - Benefits

- Car lease payments are tax deductible

- No capital outlay is required and cash-flow protected

- Terms can be flexible and fixed repayments make for easy future budgeting

- Option to purchase the car at the end of the term

CHATTEL MORTGAGE

Chattel

A Chattel Mortgage is a particular type of finance used by businesses for the purpose of purchasing a new or used vehicle or other business equipment.

Chattel Mortgage is essentially a Mortgage over goods to be financed. Chattel Mortgage is classed as a cash sale in that the goods automatically become yours on purchase and the finance company takes a mortgage over the chattels. However for tax purposes you can claim depreciation, running costs and interest paid, against your business income. The Chattel Mortgage allows businesses to claim the full input tax credit from GST incurred expenses immediately (next BAS statement). Always seek advice from your accountant in regard to this.

The Chattel mortgage is a very flexible finance option, in that, you have the ability to either finance the full purchase price or alternatively, you can include an upfront deposit or trade-in to reduce your rental commitment, while a Residual payment may also be placed at the end of the term (much like a lease residual) to represent the vehicles end value. Alternatively, you may choose to structure your rentals to clear the debt in full over the term of your agreement (fully amortised).

Chattel Mortgage - Benefits

- Interest charged and depreciation of the vehicle are tax deductible

- No capital outlay is required and cash-flow protected

- Terms can be flexible and fixed repayments make for easy future budgeting

- After full payment of the chattel mortgage agreement, ownership of the goods is transferred to you

- You have the option to make payments with or without a balloon payment at the end of the term.

- Shows commitment by the employee to his/her employer