Vehicle and equipment finance
Essentials
- Fast access to funds so you can take delivery in a matter of days
- Choose from 3 products - finance lease, commercial loan (goods loan) and commercial hire purchase
- Take advantage of potential tax benefits1
- Negotiate a repayment structure that suits your budget - monthly, quarterly, half-yearly or yearly
- Flexible repayment terms of 1 to 5 years
- Finance lease and commercial hire purchase payments are fixed. Commercial loan is based on a fixed rate, meaning you're protected from movements in interest rates.
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Get a quote |
Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria. Terms and conditions apply and are available on request.
- 1.The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances.
Features
There are 3 different vehicle and equipment finance products.
For all 3 finance options:
- Minimum finance amount is $15,000
- Term can be from 1 to 5 years
- Finance lease and commercial hire purchase payments are fixed. A commercial loan (chattel mortgage) is based on a fixed rate
- Revolving limit is available
- Balloon (for commercial hire purchase or commercial loan) or residual value (for finance lease) is available.
| Finance Lease | Commercial Loan | Commercial Hire Purchase | |
|---|---|---|---|
| What is it? | We purchase the asset at your request and rent it to you for an agreed period. | You source and own the asset and we provide a loan secured by the asset. | We purchase the asset at your request and you buy it from us in instalments. |
| Who owns the asset? | We do and you rent it from us. | You do and we hold it as security. | We do until the agreement has been paid when ownership is transferred to you. |
| What is the potential tax benefit1? | The rental payments are generally tax deductible1. | The interest on the finance and depreciation of the asset are generally both tax deductible1. | The interest on the finance and depreciation of the asset are generally both tax deductible1. |
Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria. Terms and conditions apply and are available on request.
- 1.The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances.
Fees
Application fee for vehicle and equipment finance depend on many variables such as the asset and how you are financing it, so to find out more, you can contact us or call us on 1300 135 805 (8am-8pm, Monday to Friday) from anywhere in Australia.
Government charges may also be payable.
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Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria. Terms and conditions apply and are available on request.
Rates
The interest rates for a commercial loan (chattel mortgage) and payments for a commercial hire purchase and finance lease depend on many variables such as the asset and how you are financing it, so to find out more, you can contact us or call us on 1300 135 805 (8am-8pm, Monday to Friday) from anywhere in Australia.
Alternatively, if you are interested in purchasing or leasing a vehicle, try our online calculator where you can check out your repayments using different scenarios.
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Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria. Terms and conditions apply and are available on request.
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Short term finance Business overdrafts, invoice finance and insurance premium funding. Ideal for seasonal and specific expenses.
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Long term finance Business loans, commercial bills and bank bill loans. Ideal for property purchase, business acquisitions and expansion.
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Equipment finance and leasing Funding for new vehicles, plant and equipment.
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Agribusiness finance An additional range of specialist agribusiness loans and leasing options for your long and short term borrowing and livestock financing needs.
- All business loans
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