FAQs

A start-up business without financials may source low doc car leasing through brokers and specialist lenders.

All types of vehicles used in a business operation may be eligible for lease finance. Subject to individual lender approval. 

Borrowing the full price of a motor vehicle is subject to lender approval of the loan amount.

Ownership of a leased vehicle is transferred from the lender to the borrower when all monthly payments and the residual are finalised.

GST is applied to monthly lease payments and residuals.

Yes. Leasing payments are treated as an acceptable business expense and the full amount is a tax deduction.  

The residual is the portion of a car lease that is due to be finalised at the end of the financing term.

No. Interest rates are offered by lenders after an assessment of the individual application and review of the credit profile. The creditworthiness and financial position can determine the rate and rates can vary for different operators.

Both Lease and Chattel Mortgage are widely used to finance business vehicles. Deciding which is most suitable for an individual business depends on the accounting method used and the approach taken to the balance sheet and taxation.

Self-employed operators with an ABN can be eligible for vehicle leasing, subject to meeting individual lender criteria and credit checks.