FAQs

Purchases of vehicles used in an enterprise can be funded with the operator’s choice of Leasing, Commercial Hire Purchase or Chattel Mortgage.

All types of enterprises can apply for credit with an ABN the minimal criteria. Where a new operation does not have financials, they may apply for no doc funding as offered by specialist lenders and through brokers.

Yes. Enterprises with an Australian Business Number (ABN) are eligible to apply for funding.

Tax deductions are included on all credit for enterprises, but the benefits vary with the different products. Operators are advised to review the features of each product in relation to their structure, accounting measures and objectives to select the one that is the most effective for their entity.

Repayments on Leasing and Rent-to-Own are fully deductible while CHP and Chattel Mortgage repayments only have deductible interest components. CHP and Chattel Mortgage have a deduction with depreciation of the truck in the annual accounts.

A non-bank lender is a lender that does not hold banking institution status but offers credit. Non-bank lenders include credit companies and others.

With unsecured credit the purpose for the funding does not provide collateral. Applicants may be requested to provide separate collateral through assets. This is subject to individual lender decisions.

Interest rates vary across the selection of credit products and can vary for different applicants. Rates for used goods credit may be higher than for credit for new goods.

Yes. Buyers can use online calculators as provided on the websites of lenders and brokers, to calculate estimated repayments prior to application.

Short-term cash flow shortfalls may be addressed with an Overdraft or Line of Credit. More long term requirements may be addressed with a secured or unsecured option.