FAQs

All commercial enterprises with an ABN may be eligible to apply for leasing. Approval will depend on meeting individual lender criteria in regard to credit score, turnover, trading period and other aspects. Small businesses that do not meet the lender criteria may contact a broker to source lenders offering low doc leasing.

Chattel Mortgage and Lease are both very popular and effective commercial funding products. The decision as to which is the best option depends on the accounting methods, balance sheet and tax strategy, and financial objectives of the business entity.

Interest rates are offered by lenders following an assessment of the financials and credit score of the business and the goods being funded. Rates can differ for different businesses.

The residual is a portion of the finance amount that is due to be finalised at the end of the term.

Yes. Monthly lease payments are treated as a business expense by the ATO.

Lease is an asset acquisition financing product. It can be used to fund the purchase of equipment, cars, heavy vehicles, commercial vessels, and trucks.

When a truck is leased, the lender retains ownership until all payments including the residual are finalised. At this point, ownership is transferred from the lender to the borrower.

Including the entire purchase price of a motor vehicle in a lease is subject to lender approval. It is quite typical for the full cost of a car to be leased.

Yes. Machinery used in a commercial operation may be funded with Leasing.

New businesses may not have all the financial documents to meet the criteria for some banks and lenders. New businesses may look for low doc and no doc products through brokers.