If you use your car for business and want flexible payments to suit your cash flow, then Asset Purchase could be the best option for you. The main difference between Asset Purchase and leasing is that you gain equity in the asset with each monthly rental payment. At the end of the rental term you have 100% ownership. In most states you can choose to either finance the whole purchase or pay a deposit up front. You can also choose to include balloon payments up to any amount at any time during the rental period, so if you choose to own the car sooner, you can. Asset Purchase also known as Hire Purchase and Term Purchase.
Features
- Loan terms of between 1 - 5 years with an option of a balloon repayment at end of contract to allow repayments to suit your budget.
- Loans start from as low as $5,000*
- Repayments are fixed for term of contract and can be structured to suit you.
- No GST on the repayments.
- 100% finance or with an optional deposit / trade.
- Repayments can be made via direct debit from a nominated bank account, B'pay or via a coupon book.
Benefits
- Fast approval.
- Apply over the phone.
- Tax deductible - Depreciation on the vehicle and the interest component of the rentals maybe tax deductible if it is used to produce assessable income or the expense is necessarily incurred in carrying in carrying on a business. Speak to your accountant for further information about tax benefits.
- Structure repayments to suit seasonal cash flow.
- Repayments fixed for the term of contract enabling you to budget your monthly expenditure.
Finance Fax No 67613320