Asset finance is a type of finance used by businesses to obtain the equipment they need to grow. It usually involves paying a regular charge for use of the asset over an agreed period of time, thus avoiding the full cost of buying outright. Asset finance can be used to obtain most types of assets, including vehicles, plant and machinery, commercial equipment, technology and more.
Asset finance is primarily tailored towards self-employed clients, small business owners, and contractors. In saying that, it’s still possible to get personal asset finance, and one of the most popular options is for buying cars.
Compared to traditional forms of finance, the benefits of asset finance can include avoiding depreciation, freeing up capital, improving cash flow and reducing upfront costs.
Obtain the business equipment or car you need through a hire purchase loan, where you pay hire charges over a fixed period. As soon as all your hire purchase payments are complete, ownership of the asset is transferred to you.
Commonly used by business owners and operators for car and equipment finance. With a chattel mortgage, the asset is owned by you from the outset and the loan agreement is secured by the asset.
Finance leases are flexible leases for businesses wanting the option to buy at the end of the lease or hand back the asset.
A novated lease is one of the easiest and most cost-effective ways to buy and own a car. This way, the financier owns the asset, while you and your employer sign a novation agreement to share the responsibilities of the loan.
You choose to pay a larger sum of the loan value at the end of the loan term. The sum you pay is usually based on a fixed percentage of the total loan value.
Reduce your repayments when you first start paying off the loan.Consider how this will affect the amount of interest you pay over the life of the loan and the total amount that is left to pay at the end of your monthly repayment term. The remaining sum will need to be paid in full in one lump sum.
We can help you understand whether this approach suits your needs and run through the considerations and benefits in more detail. Get in touch.
Contact us and tell us more about your plans and your goals.
It all starts with taking about one minute to answer a few simple questions. When you’re done, we’ll meet to talk about your goals, opportunities and next steps, in person or online.
We’ll research our panel of banks and lenders to create a shortlist of asset finance solutions that suit you.
We’ll research our panel of banks and lenders to create a shortlist of asset finance solutions that suit you. We’ll then present these options to you, and you can choose the one that fits your needs.
Once you’ve chosen a lender, we'll get you pre-approved.
Once you’ve chosen a lender, we’ll get you pre-approved. This means you can start shopping for your new asset with confidence, knowing exactly how much you can spend.
Time for you to decide on the equipment you need to run or expand your business.
Time for you to decide on the equipment you need to run or expand your business. Once you’ve found the right asset, we’ll help you with the paperwork and get you the funds you need.
We’ll complete all of the paper to work to secure finance from your lender.
We’ll complete all of the paperwork to secure finance from your lender. We’ll keep you updated every step of the way, and let you know as soon as your loan is approved.
The agreement is finalised, the asset purchased and you can begin to enjoy using it, without a large lump sum outlay.
The agreement is finalised, the asset purchased and you can begin to enjoy using it, without a large lump sum outlay. We’ll be here to help you with any questions you have, and to provide ongoing support and advice for your next investment or business.
Our engagement doesn’t end at settlement. We’ll be here to help you .
Our engagement doesn’t end at settlement. We’ll be here to help you with any questions you have, and to provide ongoing support and advice for your next investment or business.
Check out our range of financial calculators below. Please contact us for more information and discuss your options tailored to your personal circumstances.
Click here to use online loan calculator to find out how much you can borrow.
Calculate your monthly loan repayments to see how much you need to plan for.
Calculate how much stamp duty you will need to pay on your property purchase.
Calculate how much you could save on your home loan by using an offset account.
Compare different home loans to find the right one for you.
Calculate how much you could save on your home loan by making extra repayments every month.
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