FAQs

For commercial credit, applicants must have an ABN. The ATO set out rulings in regard to vehicles used for commercial purposes.

No. The same credit products can be used for funding both battery and PHEV models.

Interest rates on auto funding are based on the assessment of individual applications rather than the fuel system of the auto.

Private buyers of used low emission models can consider secured personal credit. If the auto is not accepted as security, they may consider and unsecured credit option. Commercial buyers have the choice of Chattel Mortgage, Leasing or CHP.

Interest rates on secured auto funding is typically fixed for the full term of the credit.

A balloon is an option with Chattel Mortgage and CHP for commercial buyers.

Using an online credit calculator, buyers can get estimated repayments prior to purchase.

Comparisons of repayments on credit for different priced autos can be done by using an online credit calculator.

No deposit auto credit is available, subject to lender approval. This allows for the full purchase price to be included in the funding.

Luxury low emission vehicles may be funded with secured personal credit or for commercial operators with Lease, CHP or Chattel Mortgage.

For subsidies and rebates for low emission purchases, buyers should refer to their state government for any current offers available. These would typically be claimed after purchase and not allowed for in any funding.

Commercial credit products offer tax deductions. Lease payments are tax deductible. Chattel Mortgage and CHP deliver a tax deduction when the asset is depreciated.

Where a commercial operator does not have full financials, they may seek brokers and lenders that offer No Doc and Low Doc options.

The term on auto funding is subject to lender approval. Up to 7 years may be offered for commercial operators. 4-5 years is a typical term for private credit.

The best option for commercial buyers is the product that suits their accounting method, tax and balance strategy. For private buyers, the secured product is the most widely used option.