Funding Options

How it works

Features

An operating lease is an agreement between you and the lender to rent equipment for use for a fixed period. Features include:

• Most depreciable assets can be financed
• Terms range from two to five years
• Repayments fixed for contract term

Benefits

• Provides 100 per cent of funds, allowing you to preserve your working capital
• Provides access to the latest equipment and technology without associated ownership risks
• Guards against obsolete equipment and offers the flexibility to respond to changing market demands
• Lease rental payments may be off balance sheet, providing scope to improve business performance ratios (e.g., return on assets)
• Rental payments may be tax deductible if you use the asset to generate income
• May be able to claim input tax credit for rental and other charges that are subject to GST

End of term options are:

• Continue to rent the equipment
• Make an offer to purchase the equipment
• Upgrade the equipment during and at the end of the term
• Return the equipment to the supplier

How it works

Lease it through salary sacrifice

We’ll own the car but you can offer to buy it off us at the end of your lease agreement.

Competitive interest rates

Fixed interest rates and repayments for contract term.

Tax information

Payments are taken out from your pre-tax salary by your employer.

Car is for personal use

You have unlimited personal use of your car.

No maximum loan amount

Take out a minimum $10,000 loan with no maximum amount.

Lease is portable

As long as your new employer agrees to it, you can take the vehicle with you if you change employers.

How it works

The Offer to Hire agreement is a contract where the lender acts as the owner and gives you, the hirer, possession and use of a vehicle in return for regular payments.

When the final payment is made, you the hirer, owns the vehicle.

Tax deductible

Depreciation on the vehicle and the interest component of the repayment may be tax deductible if it is used to produce assessable income or the expense is necessarily incurred in carrying on a business. Speak to your accountant for further information about tax benefits.

Manage your cash flow

• An offer to hire can be arranged with no deposit or an amount that suits you
• The vehicle being purchased is normally sufficient security for the finance so your other business assets are not required as security
• Tailor the repayments to suit your cash flow. You can also arrange to make a balloon payment at the end of the facility to reduce repayments throughout the term.

Flexible repayment options

• 1 to 7 year loan term
• Make payments monthly, quarterly, semi-annually, annually, seasonally or irregular
• You have the flexibility to repay the contract in full before the term ends. Early termination fees apply
• Payments can be made from your nominated bank account, by direct debit or via BPAY
• Interest rates are fixed once your contract starts so you always know what your repayments will be.

Before you start, you will need to:

• Be looking to borrow $10,000 or more
• Have your business registered in Australia
• Have a good credit history

How it works

With this option, the Lender purchases the vehicle and then leases it to you. You then enjoy the use of the vehicle or equipment for an agreed time in return for lease repayments. You can also lease a vehicle which you have already purchased in the last six months. When the lease expires you can choose to:

1. return the vehicle to the lender who can sell it in the market place (you would need to make up the shortfall if the net sale was less than the agreed residual value); or
2. make an offer to the lender to purchase the vehicle, which they may accept

Tax deductible

Lease payments may be fully tax deductible if the equipment is used solely for earning assessable income. Speak to your accountant for further information about tax benefits.

Manage your cash flow

• Finance lease gives you immediate access to the vehicle your business needs without a capital outlay so you can put your day-to-day cash flow to better use
• Tailor the lease payments to suit seasonal cash flow
• The equipment being leased is normally sufficient security for the lease so your other business assets are not required as security

Flexible options

• Match your lease to the length of time the vehicle is required – lease terms available from 1 to 5 years
• Make payments monthly, quarterly, semi-annually, annually, seasonally or irregular
• Payments can be made from your nominated bank account, by direct debit or via BPAY
• Payment costs are fixed once your contract starts so you always know what your repayments will be