This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
The market for commercial motor vehicle credit is extensive with significant interest rate variations with the different banks, credit companies and other non-bank lenders. Rates also vary with the credit facilities – Lease, Chattel Mortgage and CHP. With our access to 80+ lenders we source the lowest current market rates and with our computing device and chart, comparing rates is a simple task. Motor vehicle lending rate offers are made after an assessment of individual applications. Request a quote for your specific interest rate.
To clarify results obtained with our estimating device, use our online resources or call for quotes and to submit applications.
The monthly commitment on motor vehicle funding can be a significant factor in the buying decision process. Monthly repayment estimates can be obtained quickly and easily with our online estimating tool. No complicated computations or high-level maths expertise is needed. Simply enter the values relating to a specific purchase with preferences for term and balloon and the device does the computations.
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The functionality allows users to work out the monthly outgoing based purely on the values entered. By changing the rate to the credit product preferred – Lease, Chattel Mortgage, CHP, users can see how the repayment amount changes.
The device is suitable for working out estimated repayments on all types of vehicles to be used in a commercial operation. Users should be aware that the results are estimates only. Individual applications may attract a different rate or term and lender fees and charges are not included.
These issues aside, our estimated device can be an invaluable buying and planning tool. Work out repayment estimates for utes, cab chassis, commercial vans, passenger cars. See if the repayments on say the upgraded rather than standard model will work with your cash flow.
Make vital decisions around no deposit funding or using the trade-in value as a down payment.
Chattel Mortgage is the most popular form of funding for commercial motor vehicles. The secured format, straightforward structure and low interest rate make this the credit facility of choice for many operators across all industries. When considering Chattel Mortgage to fund a new vehicle purchase, use our estimating tool to work out repayments and plan preferences.
The terms can be varied and the changes in the monthly commitment noted. This tool allows for users to input their preferred balloon amount – an option with Chattel Mortgage. When inputting a balloon, do not deduct the amount from the credit total. The device will automatically carry out that computation.
When the results obtained are in the ballpark – contact us by phone or online for a quote or to apply for credit.
Our guides offer quick comparisons and simple explainers to help you cruise through the financing process with confidence.
For operators that use the accruals method of accounting but are seeking many of the features of Chattel Mortgage, Commercial Hire Purchase or CHP may be an option to consider. This credit facility includes many similarities with Chattel Mortgage including the same low interest rate and the balloon option.
Considering CHP? Use our estimating device to work out what your vehicle lending repayments may be. Enter the amount of the vehicle, our current interest rate, preferred credit term and balloon and the device will automatically display the result.
Chattel Mortgage and CHP both have the option of including a balloon in the funding. Working that option into estimates is easy with our computation device. Simply include the percentage required for the balloon in the field as indicated. Do not deduct the amount from the total entered as the functionality of the device will do the maths. Vary the balloon to see how the change impacts the repayments to arrive at your preferences to brief our brokers.
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THE INTEREST RATE IS CALCULATED ON A SECURED LOAN PREDOMINATELY FOR BUSINESS USE, EFFECTIVE 15/11/2024 AND SUBJECT TO CHANGE. WARNING: THE INTEREST RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT INTEREST RATE.
Our guides offer quick comparisons and simple explainers to help you cruise through the financing process with confidence.
To use an online credit estimator, users need a device with online internet connection and be able to type values into the fields as indicated. No special computer or computation skill is required.
All types of operators can use the device to work out estimates. Specific quotes can be requested to get an exact repayment and rate amount.
No. Leave the total amount as the total amount of credit required and the device will allow for the balloon when carrying out the computations.
By changing the term entered in a credit estimator, users can see the difference this makes to the monthly repayments.
Online credit devices can only provide estimates as they do not have the functionality to discern the creditworthiness of users or to allow for charges from individual lenders.
An online credit estimator works only on the values entered by the user. No consideration of GST or tax deductions are made.
No. When new values are entered, the previous results are not saved to memory.
Yes. An online credit estimator is a generic device and can be used for estimates on all types of vehicles.
Users should enter into the estimator the interest rate of the type of credit product they require.
Yes. Users can enter the interest rate relevant to Leasing, CHP or Chattel Mortgage to use the device for their preferred facility.
Online devices only work out repayments based on the figures entered. No allowance is made for the profile and application specifics of the users and lender fees and charges are not included. Offers received may be different from estimates.
