Now that you have answered the
question of “what car do I purchase?"
To get the best finance solution,
ask yourself the following:
Is it for personal or business
use? Do I wish to own or pay for use of the
vehicle? How long do I want to keep the car
for? What other lifestyle or business considerations
are there? How many kilometres will the vehicle
travel? What is my budget?
Contact our Finance Manager for
more information and who can advise you on our
products, and how they can be tailored to suit
your needs.
Motor
Vehicle Loan
- For a car that is predominately
for personal use.
- All on road costs, registration
and insurance costs can be financed.
- Terms range from 1-5 years
and up to 7 years to approved applicants*.
- Interest rates are fixed with
a known payment, giving you control of your
budget.
- Structured payment option to
suit your budget and cashflow.
- You can make a deposit to
reduce your payments and the amount borrowed.
- Retain cash for other purposes.
- Range of payment options,
Bpay, Direct Debit, Coupon Book.
Motor Vehicle Novated Lease
- A three way agreement between
the financier, employee and employer, that may
be tax effective for the employer and employee
as repayments are made by the employer from
the employee’s pre-tax income.
- Terms range from 12 to 60
months.
- Fixed monthly rental gives
protection against market fluctuations.
- Allows the employee to choose
the car they wish to drive and can be portable
should the employee change employers, the current
employer responsibilities are then relinquished.
- Lease rentals are tax deductible
to the employer and there may be savings in
employee on costs.
Motor Vehicle Asset Purchase
- This is also known as Commercial
Hire Purchase and Term Purchase.
- For Businesses and individuals
using the car for income producing purposes,
interest charges and depreciation may be taxable.
- Deposit can be placed into
the contract and a balloon payment (larger final
payment) specified to suit your budget and cash
flow.
- Terms range up to five years
and allow you to own the vehicle with the final
payment.
Motor Vehicle Finance
Lease
- Enables business customers
or individuals with a business to acquire vehicles
without tying up valuable capital. Preserves
cash flow which can be used elsewhere by having
the flexibility of fixed lower monthly rentals.
- The ability to upgrade the
car at the end of the term or extend the lease
for a further period.
- Residuals are set according
to Australian Tax Office life and depreciation
guidelines, with rentals being tax deductible,
provided the vehicle is used for income producing
purposes.
- Terms range from 12 to 60
months.
- You only pay for the use of
the vehicle not ownership.
- No capital outlay or deposit
required.
Motor Vehicle Operating Lease
- Variation of the Vehicle Finance
Lease without the Residual Liability, as you
just hand back the vehicle at the end of the
agreement (Subject to “fair wear and tear”)
eliminates the risk/cost to vehicle depreciation
and market fluctuations.
- Lease rentals are off-balance
sheet which means there is an opportunity to
improve the business’s gearing ratio.
- Greater control over vehicle
running costs by having one monthly rental that
includes the finance repayment, all scheduled
and non scheduled maintenance/servicing, tyres,
registration and Compulsory Third Party (CTP)
renewals.
- Option of Fuel Card Management.
- Comprehensive 24 hour accident
management, with claims and repair service being
followed up for you.
- One single monthly tax invoice
for all vehicle costs – means less paperwork
for your business and GST accounting is made
much simpler.
Motor Vehicle Chattel Mortgage
- A benefit for businesses
who operate on a cash basis for their accounting
as it assists to enhance cash flow by allowing
businesses to claim some or all of the GST contained
in the vehicle purchase upfront via the Business
Activity Statement rather than over the life
of the loan.
The information on this website is of a general
nature only. Please consult your own accountant
and or financial advisor. Grawill Ford Pty Ltd
or its employees do not offer tax advice and are
not licensed Financial Planners. All finance products
are subject to final credit approval by the relevant
lender, and can be withdrawn without notice and
liability.
