FAQs

No, there is no obligation attached to using most online equipment finance calculators, There is no fee or obligation involved at any stage of the calculator use and you can use as many times as you like.  While using the calculator, here’s a few thoughts: if you’re thinking you need to shop around, use our compare lenders charts which shows the interest rates available from other leading lenders. If you think you need assistance with structuring your finance, have an obligation-free discussion with a broker. If you need to look at different equipment, source what you need and come back to the calculator for more repayments or use it while you’re at expos, field days and in dealer showrooms. If you require advice on which finance product to select refer to your accountant.

Commercial finance facilities which are finance products used for the purchase of equipment by business entities, include an option for a balloon or residual. Different terms apply to the different finance products but essentially the concept is the same. The concept is that a portion of the loan amount, which in most cases is 100% of the equipment purchase price, is set aside from inclusion in calculating the repayments and is due for payment at the end of the finance term. This is represented as a percentage of the purchase price and is arrived at partially as the preference of the borrower but in negotiation with the lender. Individual lenders may place limits on the amount they allow. With Chattel Mortgage and Commercial Hire Purchase this is known as a balloon, with Leasing a residual and with Rent to Own as buyback. By including this element in the finance structure, it allows businesses to reduce the monthly repayments to meet cash flow requirements while making high priced equipment more affordable.

Now you can proceed with getting a firm quote on your equipment finance. There are a number of options to proceed, depending on your intentions. To simply receive a quick quote, just click on the request a quote button. To commence a formal finance application either use the online form or call us. Your brief will be taken with details of your business and the equipment you are purchasing and your choice of finance type. A quote will be source from across a large number of banks and lenders. There are non-bank lenders that specialise in equipment finance and are more flexible in regard to negotiating on interest rates and loan conditions. When you accept the quote the next step is to process your finance application. Fast approvals and prompt settlement is available to meet your timeframe.

Not at the repayment estimate calculation phase. Most online calculators cover estimates for Chattel Mortgage, Leasing, Commercial Hire Purchase and Rent to Buy finance products. All these commercial finance facilities are available and the calculator works for all. Different interest rates may apply to different finance types. There is a field to include a balloon, residual or buyback. At this point you may not have decided which is the most suitable for your business. Each finance product offers a range benefits in regard to taxation and balance sheet and are suited to different accounting methods. You are advised to consult with your accountant regarding choice of finance type. For the purposes of calculating repayment estimates on our calculator, you do not need to specify the type of finance facility being utilised.