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Car and Asset  -  finance

There is nothing quite like the excitement of getting behind the wheel or the smell of your new car.

 

But how do you arrange the finance for it, quickly ?

 

You could leave it for the car yard and hope that the one financial institution they use has the best loan for you or you could call Loancom where our finance consultants have access to several lenders to ensure you get the best loan for your vehicle.

 

Various finance available to suit your situation:

 

Chattel Mortgage:

 

You own the vehicle, which is used by the lender as security, enabling you some very competitive terms.

(no deposit to approved customers), You are able to budget : fixed payments with your choice of repayment options.

Select the term and the timing of repayments to suit seasonal cash flow. Tax benefits: interest charges, fees and depreciation may be tax deductible if the vehicle is used to generate assessable income - speak to your accountant for further information.

 

Novated Lease:

 

is an arrangement whereby your employer agrees to finance your vehicle and its running costs from your PRE-TAX income. We facilitate a three-way agreement between you, your employer and the finance company which allows you to save thousands by reducing your salary prior to tax. This is also known as Salary Packaging. There are some attractive benefits. it lets you divert some pre-tax income toward your car purchase and running costs. The tax man is effectively SUBSIDING your vehicle finance, this can mean BIG savings to you!

 

Hire Purchase:

 

Very similar to Chattel Mortgage only, you use your business vehicle while you pay it off. You own the vehicle after the final payment.

So, no deposit to approved customers. Simple forecasting and budgeting: fixed payments with your choice of repayment options.

Flexibility: select the term and the timing of repayments to suit seasonal cash flow so your finances aren't tied up.

Tax benefits: interest charges, fees and depreciation may be tax deductible if the vehicle is used to generate assessable income - speak to your accountant for further informa4ion.

 

Finance Lease:

 

You find a vehicle you want, the lender purchases it on your behalf and you then lease it back from them for an agreed (and fixed) monthly payment. When the lease is up, you can either re-finance the residual amount and continue a new lease on that vehicle for another set time period or pay a final installment for the ‘residual value’ of the lease and take ownership of the car yourself. You then have the possibility to trade it in and upgrade to a new vehicle.

 

It won't cost you to be informed, Loancom, here to help you.

 

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The information contained on this website is general information only and should not be relied on as specific advice for your particular circumstances or as a substitute for professional advice.