Motor Vehicle Asset Purchase

Also known as Term Purchase or Hire Purchase.

If you use your car for business this can be effective option as all business related expenses are tax deductible.

In addition, all on road costs, registration and insurance can be financed.

Fixed monthly payments safeguard against interest rate hikes.

Payments are flexible but calculated so that you own the asset at the end of the term.

Motor Vehicle Finance Lease

The benefits of this form of lease are that if you use the car for business, you can have flexibility of lower monthly payments as well as the option to upgrade the car at the end of loan contract.

The on road costs and registration can be included in the finance package.

Fixed monthly payments guard against interest rate hikes. And because the residual value of the vehicle is taken into consider, monthly repayments are actually lower.

In addition, business use of your car can be claimed against your taxable income.

At the end of the lease, you can chose to upgrade the car, continue the lease or allow another person to purchase the vehicle.

Chattel Mortgage

This mortgage can benefit business customers who use cash accounting.

Basically, the ITC may be claimed upfront through the BAS (Business Activity Statement) instead of over the life of the loan.

On road costs, registration and insurance can be included in the financial package.

Monthly payments are fixed and business related expenses are tax deductible.