Learn about the different vehicle financing options available for you and your business. Know what\'s best for every situation.
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Personal or Business Loans
1800 Approved Finance Solutions
33 Ereton Dr.
Arundel, QLD 4214
The type of financing to apply for when purchasing a vehicle depends on your needs and if you are using it for personal or business use.
Knowing the differences will help you make the right decision.
Personal Loan - A financing option wherein you borrow money and use it to buy a car.
Personal loans can either be secured or unsecured.
Finance Lease - Under this agreement, the lender purchases the car or equipment and leases it to the buyer for an agreed period.
At the end of the term, the buyer has the option to purchase the car or equipment, trade it in for a newer model, or extend the lease.
Novated Lease - Under this agreement, the employer assumes responsibility of the lease and takes the payment from the employee’s pre-tax income therefore lowering the employee’s income tax and increasing his take home pay.
Hire Purchase - Much like a rent-to-own scheme and commonlyused by businesses.
Under these terms, the buyer agrees to pay a certain amount every month plus interest for the use of the equipment.
Chattel Mortgage - often used by businesses to buy equipment or a car if the car is going to be used for business purposes 50% of the time.
Low Doc Car or Equipment Loan – Most beneficial for the self-employed and business owners who are unable to provide the needed documents for a conventional car or equipment loan.
It is advisable to assess your needs before deciding which option to choose. To take out the guesswork, talk with a finance broker. What you think is best may not be the best fit for your needs so always trust the expert.
33 Ereton Dr. Arundel, QLD 4214
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