Car/ Vehicle Finance

Car/ Vehicle Finance

Car/ Vehicle Finance

Our lending specialist will help you identify the type of car loan suitable to you as well as the most competitive interest rate.

Whether you are PAYG or self employed, we have the lending solution that will most suit your financial needs

Chattle Mortgage

A fixed loan where the financier advances money to buy a vehicle. The financier holds a mortgage over the car which is used as security for the loan. Motorists can finance the total purchase price of the car or can make an up-front deposit or can use a trade-in. A residual payment may also be placed at the end of the term.

Commercial Hire Purchase

Commercial hire purchase agreements have fallen dramatically in popularity because of changes made to the GST treatment relating to them. They are therefore less attractive to companies and employees with a car allowance. Most people and businesses in this position prefer the greater financial benefits of a chattel mortgage (see above).

Novated Lease

A three-way arrangement where the employee’s wage is reduced – salary sacrifice – in exchange for an equal value of vehicle benefits. The employee leases the car directly from the financier. The employer has the obligation to pay the financier through a novated deed on the employee’s wage. All operating costs of the car – registration, insurance, servicing, tyres, etc – are covered by the motorist. The motorist has sole responsibility for the car on termination of employment.