FAQs

Timber industry machines can be financed with Leasing, Rent-to-Own, Hire Purchase and Chattel Mortgage.

The same selection of commercial credit facilities is available for all business assets such as machines used in forestry and logging.

Self-employed contractors with an ABN can be eligible for commercial finance. Subject to individual lender guidelines, additional collateral may be requested and the personal financials of the contractor may be assessed in conjunction with the business financials.

Where attachments are purchased from the same dealer and at the same time as the machine, generally, the entire purchase can be incorporated into the one finance arrangement.

The requirements for commercial credit are to hold and ABN, ID and provide a range of financial documents on the business.

Tax deductions vary with loan types. Rent-to-Own and Lease have tax deductible monthly payments. Hire Purchase and Chattel Mortgage have deductible interest plus allow a deduction when the machine is depreciated.

Yes. Applications for commercial financing can be submitted and approved prior to a purchase being made. An estimate of the loan required and an indication of the type of machinery can be provided to receive conditional approval ahead of purchase.

Rates vary with credit facilities and for individual applicants. The credit history and rating is assessed when rate offers are prepared by lenders.

Asset acquisition loans are typically arranged with fixed interest rates and over fixed terms. This means that the payments are also fixed and do not change.

A residual is an end-of-loan-term payment applicable to Lease. The residual is due for finalisation at the end of the term.