This is a typical consumer Car Loan which is used by an individual to purchase a motor vehicle, boat or other asset. A consumer based Car Loan requires the goods to be used as security for the Car Loan contract. This facility falls under the consumer credit code (UCCC) where the interest rate, commission and other fees are disclosed on the contract. All consumer credit conditions apply to this type of Car Finance.

A Secured Car Loan can give you immediate use of the vehicle of your choice in exchange for regular payments over an agreed period of time.

• Car Loan terms normally range from 12 months to 60 months.
• A deposit may not be required for the Secured Car Loan, however should you wish to make one you will benefit from either lower repayments or a shorter term.
• Consumer car loans cannot be novated.

A Chattel Mortgage is a type of finance that allows sole proprietors, partnerships and companies using the 'cash' method of accounting for the Goods and Services Tax to claim back the GST on the purchase price on their next Business Activity(BAS).
There is also a charge lodged by the Finance Provider with ASIC.

• Terms from 1 to 5 years fully amortised or with a predetermined balloon payment at the end;
• The repayments are exempt from GST;
• Customers registered for GST can claim the GST that is included in the vehicle purchase price;
• Chattel Mortgage cannot be novated.

A Commercial Hire Purchase Car Lease allows the freedom to borrow 100% of the purchase price or less if you wish to make a cash or trade deposit and gain immediate equity in the goods.
Repayments may be structured to suit your cash flow requirements including the inclusion of a balloon payment at the end of the Lease term. Security is generally limited to the goods being financed, keeping your business assets free for other purposes.

• Terms from 1 to 5 years fully amortised or with a predetermined balloon payment at the end;
• The interest component of the repayments, and the depreciation on the vehicle can be claimed as a tax deductions if the vehicle is used to generate assessable income;
• Commercial Hire Purchase cannot be novated.

A Sale and Lease Back agreement involves the finance provider buying the existing owned vehicle at a fair market value. This vehicle is then leased back to the client on a Car Lease or Novated Car Lease for an agreed term.

• Frees up the cash contained in the asset.
• Terms from 1 to 5 years fully amortised or with a predetermined balloon payment at the end;
• Can be established as a novation.

Suitable for Cars and bikes

A Lease is an arrangement between the finance company (the lessor) and the client (the lessee); whereby the Finance lender agree to rent a particular piece of equipment over generally a set term with a predetermined residual value.

The Lessor obtains legal ownership of the car/bike to be leased, by paying the amount as advised on the (vendor's) supplier's invoice. The Lessee then has the use of the car/bike and pays rent for that use for the term of the lease contract. During the term of the Lease agreement, the Lessee merely pays rent and does not obtain ownership or equity in the car/bike they are leasing. Under a lease agreement, the Lessee is responsible for maintenance and running costs, insurance and registration fees for the leased item.

• Low establishment fees, monthly fees and no payout penalties;
• Terms from 1 to 5 years fully amortised or with a predetermined balloon payment at the end;
• No deposit;
• 100% of the Car Lease payments are claimable. Note FBT maybe payable;
• GST on the purchase price of the vehicle is claimed back by the finance provider on your behalf. This lowers the amount financed to the purchase price minus GST;
• Customers registered for GST can claim the GST on the monthly Car Lease payments.

Suitable for cars and bikes

A Novated Lease, is a Lease where your employer then takes the payments and the running expenses out of your “pre and post tax” salary, doing a “salary sacrifice”, thus reducing your taxable income.
While the contract for the finance is between the you and the finance provider, if you change jobs, you take your Novated Lease and your car with you.

At the end of the term of the Novated Lease you have the option to purchase the car for a set residual, or you can sell or trade. If you find you make a profit from selling the car, then it’s yours to keep!

• No next bill syndrome
• All car running costs out of salary

A Novated Operating Lease is exactly that! Its the best of two types of Car leases, a Operating Lease and a Novated Lease. It allows an employee to receive a tax benefit on a vehicle every time they get paid and at the same time, the employee has no residual risk for the car. The vehicle is just handed back to the finance provider at the end of the car lease term.

A Novated Operating Lease is easy, get the go ahead from your employer, choose a motor vehicle, decide on the term and work out how many km's you will travel each year. Your employer will pay a monthly Car Lease payment that includes all scheduled servicing and take this from your pre tax salary. At lease end, you just hand the motor vehicle back to the finance provider.

Novated Operating Lease Benefits

• No vehicle disposal hassles at end of Car Lease;
• Fleet administration, including registration and CTP renewals;
• Scheduled servicing and non-scheduled maintenance nationwide through our extensive network;
• Fuel Card (for fuel purchases);
• You don't tie up your cash and can use this money to invest in the development of your company;
• Accident and claims management;
• Fleet management and statutory reporting;
• Optional Comprehensive Insurance cover;
• Ease of payment through our direct debit payment facility;
• GST accounting is also made simpler with all vehicle expenses incorporated in a single monthly tax invoice/statement.