FAQs

Terms for vehicle funding are subject to lender assessment of the application. Up to 7 years may be approved.

Prior to buying or applying, buyers can use an online credit calculator to work out estimates on vehicle funding.

Yes. On approval, all applicants can realise the features and benefits of the selected credit facility. That includes opting for a residual with Leasing or a balloon with Chattel Mortgage and CHP.

Vehicle lending applications can be lodged and approved prior to a specific vehicle purchase commitment being made. An estimate of the amount required and an indication of the type of vehicle will be required to get an accurate quote. Pre-approved quotes are valid for a set timeframe only.

Small, self-employed enterprises are often asked to provide personal financials as part of the lending application.

Leasing and Rent to Own repayments are tax deductible but CHP and Chattel Mortgage are not, except for the interest portion. A tax deduction with CHP and Chattel Mortgage comes through depreciation of the vehicle.

Commercial vehicle funding allows the vehicle to be accepted as security, subject to lender approval. Some self-employed applicants may be requested to provide additional security or personal guarantee. This is assessed on an individual basis.

Banks and lenders will have individual guidelines for lending approval criteria. Some do have a minimum turnover but there is not an across-the-board amount. Operators with low turnover may benefit from using a broker to source the appropriate lender.

Commercial vans are included in motor vehicle funding and owner-drivers with an ABN are eligible to apply.

All motor vehicle funding interest rates are offered after the lender assesses the individual application. Self-employed persons can be offered competitive rates with a strong application.

GST registration is not an essential requirement to be eligible to apply for commercial lending.

Yes. All commercial entities can select from Chattel Mortgage, Rent to Own, Lease and CHP to fund motor vehicles.