Business car loans and vehicle finance
Your vehicle finance options
Choose from 3 vehicle finance products
- Goods loan (also known as Chattel Mortgage)
- Hire purchase.
- Access to finance from $15,000
- 1 to 5 year terms to suit your loan
- Use the vehicle you’re purchasing as security
- Fast approval for existing Westpac equipment finance customers*
Negotiate flexible repayment terms. Monthly, quarterly, half-yearly or annually doesn’t suit? We’re happy to negotiate a tailored solution to suit your expected cash flow and budget.
Get certainty with fixed payments on lease and hire purchase, or a fixed interest rate on a goods loan.
Potential tax benefits. Based on your choice of business equipment finance option you could benefit from ongoing tax benefits1.
Know exactly how much you need to pay over the life of your loan:
- Leases have fixed payments
- Goods loans have fixed interest rates
- Hire purchases have fixed payments
Additional features include the option to establish revolving limits, and the availability of residual value for finance lease, or balloon for commercial hire purchase and commercial loans that could benefit your business.
|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 deductible.||The interest on the finance and depreciation of the asset are generally both tax deductible.||The interest on the finance and depreciation of the asset are generally both tax deductible.|
Calculate your repayments
Please note that fees and charges, including government duties and GST may apply. One of our specialist business bankers will be able to talk you through these.
Interest rates and repayments vary depending on a number of factors. Some of these may be:
- Which finance option you choose
- Type and age of the asset being purchased
- Term of the finance agreement.
If you’d like a personalised quote, we’re happy to help. Please fill out your details using our online enquiry form, and we’ll be in touch within 1 working day.
Things you should know
* Credit criteria, terms and conditions, fees and charges apply. On-the-spot conditional approval only available to eligible existing Westpac customers with a valid ABN, trading in the same business for 2 years, no outstanding statutory payments and acceptable credit history.
Applications for vehicle and equipment finance are subject to the Bank's normal lending criteria. Credit criteria, terms and conditions, fees and charges apply.
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.
Calculator: Terms and conditions, additional fees and charges may apply. Government taxes such as GST may alter the amounts quoted by this calculator. Obtain your own tax or financial advice to see if a product suits your needs. If you want to understand how GST affects our products please call us on 1300 360 322. Any calculation made using this calculator is only a guide and is not an offer of finance. Enter full amount to be financed. Lending criteria applies to finance applications.