FAQs

All commercial entities have access to the choice of Leasing, CHP and Chattel Mortgage to fund motor vehicles. Where the full documentation is not available, operators may seek brokers and specialist lenders that offer no doc or low doc options.

An ABN is required by all entities for commercial credit. The commercial vehicle credit application requires providing trading figures and accounting records such as BAS, tax returns, annual accounts and similar. Where not all or any of these records are available, without financials and lite doc funding may be sought. This can be approved by some lenders based on 6 month figures of trading.

Yes. GST registration prior to applying in not required.

Yes. When approved, operators have access to all the features and benefits of the credit facility they have selected. A balloon is an optional inclusion with Chattel Mortgage and Commercial Hire Purchase.

Where an application is rejected due to lack of documentation, the applicant may seek lite doc funding through brokers and specialist lenders.

Where an operator is approved for lite doc or without financials funding, Leasing is one of the credit facilities that they may select.

The security or collateral required for vehicle credit is subject to individual lender guidelines and will be based on an individual assessment of the application.

There is no set rate for newly set-up operators for vehicle credit. Rates are offered following lender assessment of each application on an individual basis.

Yes. Once credit is settled, operators receive all the tax deductions relevant to their credit facility choice.

Yes. Funding applications can be submitted and approved prior to committing to a vehicle purchase.

As variations in credit facilities are primarily bases on accounting aspects, it is advisable to consult with an accountant as the best option for an individual set-up.

Yes. Buyers can use online credit calculators as provided by lenders and brokers to work out repayment estimates on different vehicles.