
Jade Finance CHP contracts are all based on our cheap interest rates. Guaranteed.
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We offer a complete portfolio of commercial finance products and each has varying features and benefits in regard to the treatment of GST, asset depreciation, balance sheet strategy and tax deductions.
Request QuoteJade Finance CHP contracts are all based on our cheap interest rates. Guaranteed.
CHP is suitable for the purchase of vehicles to be used primarily for business purposes.
Suitable for sedans, utes, SUVs, light trucks, wagons which can be purchased new or used from a private seller, dealer, online or through an auction house.
Suitable for solo businesses, tradies, professionals, partnerships, SMEs and large business operations for the purchase of one or multiple vehicles.
Additional costs associated with the purchase, eg rego, dealer charges, on-road costs, etc, may be included in the CHP car loan.
Suited for businesses using cash or accrual accounting methods.
Terms available from 12 months to 60 months, dependent on particulars of the car.
No deposit car loans is an option on CHP by the lender.
Interest on the CHP loan is a tax deduction but the monthly repayment is not deductible.
The borrower can claim the GST on the purchase price of the car on the next BAS.
GST does not apply, or is claimable, on the repayments, balloon or interest portion.
GST does apply and is claimable on any charges and fees incorporated in the repayments.
ATO guidelines determine depreciation of the car. Please refer to the ATO website for all breakdowns.
Balloon amount may be included in a CHP, not compulsory. If included, it is due to be paid after the final repayment at the conclusion of the loan term. Jade Finance can arrange refinancing of balloon amount if required.
When all payments are finalised, the ownership of the car is transferred from lender to borrower.
You may have come to our website for information on Commercial Hire Purchase, but we also achieves some of the best car loan rates across a wide portfolio of finance products. This chart displays the current interest rates on different loan types, subject to conditions as noted.
For an estimated repayment on the loan you are considering, enter the loan amount and term and see the result instantly for each category. For a specific quote, call us on 1300 000 008.
By definition, CHP involves the lender purchasing the motor vehicle on behalf of the borrower and hiring it back to the borrower at the pre-set and fixed monthly payment. The borrower has full use the vehicle for the term of the loan but the lender holds ownership title until all payments are finalised. The borrower is responsible for all ongoing expenses of the car during the loan term.
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