FAQs

Find answers to common questions about finance, loans, and leasing services at Jade Finance. Our FAQs cover a wide range of topics to help you make informed decisions.
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Construction Equipment Finance FAQs

  • Machinery used in construction can be financed with Lease, Hire Purchase, Chattel Mortgage and Rent-to-Own.

  • Interest rates and other loan conditions can vary for new and second hand machinery loans.

  • Sole traders with an ABN and meeting lender criteria can be approved for finance for machinery.

  • Construction machines can be financed over terms of up to 84 months.

  • Different credit products have different tax benefits. The full monthly payment for Lease and Rent-to-Own is a deduction. With Chattel Mortgage and CHP, only the interest component of the repayment is deductible, with the machine depreciated to deliver a tax deduction.

  • When the final monthly lease payment is made and the residual finalised, the ownership of the machinery is transferred from the lender to the borrower.

  • A balloon with Hire Purchase and Chattel Mortgage is due to be paid after the last monthly repayment.

  • A residual is a percentage of a Lease which is due for finalising at the end of the term.

  • Registration for GST is not an essential criteria for approval for construction equipment loans.

  • Commercial credit facilities allow the machinery being financed to be the collateral for the loan. Many applicants will not be required to provide additional security. Subject to lender guidelines.

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