FAQs

Operators select the credit facility that best suits their accounting method and approach to the balance sheet, taxation and financial objectives.

All commercial entities can choose from Lease, Rent-to-Own, Chattel Mortgage and CHP to finance vehicles.

Owner-drivers can select from the same loan types as larger businesses to finance vans. Smaller businesses may be required to provide personal as well as business financials for the application.

New and used model vans are all financed with the same selection of credit facilities – Lease, Rent-to-Own, Chattel Mortgage and CHP. Rates, loan amounts, terms and conditions can be different on new and used vehicle loans.

Operators may request their preferred loan term but approval is subject to the lender’s assessment of the application.

Lease and Rent-to-Own repayments are a tax deduction. The interest part of Chattel Mortgage and CHP repayments is a deduction. CHP and Chattel Mortgage provide a deduction through asset depreciation.

Many operators can be approved to borrow the total vehicle purchase price, subject to lender approval. Approval can be based on creditworthiness and the value of the vehicle.

Commercial credit facilities allow for the vehicle to be used as the main security. Some applicants may be required to provide extra collateral, subject to individual lender guidelines.

Commercial vehicle financing rates are typically fixed. They do not change through the complete period of the loan term.

Some lenders may offer special finance deals for funding electric vehicles at different times, and subject to meeting certain conditions.