If you need finance for a car, or you’re busy paying off a loan with another company and would like to re-finance, we can help.
With repayment terms from 6 to 60 months, hire purchase is a well-known method of financing. With flexible deposits, structured repayments and residual options, this option suits most purchases requirements and is the most flexible.
Can be for private use or business use, when you can claim depreciation, GST straight away (for GST-registered purchasers) and interest over the term.
A lease with the opportunity for the lessee to purchase the vehicle. Suits both the private and business buyers alike. Basically this is a flexible operating lease. Usually incorporates one payment in advance, a nominated monthly amount followed with a final balloon/residual payment, extremely popular.
If it is for business use the customer can claim the GST content of the rentals monthly, and up to the entire rental as a cost against their business, thereby reducing their tax liability. The car is off-Balance sheet so depreciation is not claimed
For the private buyer a finance lease usually has slightly lower rentals than Hire Purchase as the GST content does not attract interest
This is essentially a rent and return option (known as a long term hire agreement) for those who do not wish to have an asset on their books and the residual risk of owning a vehicle. Like a finance lease, the operating lease usually incorporates one payment in advance and can include a full maintenance package if you choose which covers all servicing and maintenance, tyres and annual re-licensing.
Terms are available from 6 to 45 months
Own your vehicle but would like to generate some money to use elsewhere? We can essentially raise a mortgage against your vehicle, boat, or other assets, to be paid back over a term and rate that suits you. Amount and structure is dependant on what you are borrow against.
If you are already in a finance arrangement, with us or another company, but the structure no longer suits you or you have a lump sum that is due, you may benefit from re-financing your contract. There a few variables to consider when doing this but our Business Managers will be able to advise you on your best course of action.