As a full service finance broker, Jade Finance offers the full suite of commercial finance facilities for business vehicle purchases, including Rent to Own or Car Rental Finance. Also known as an Operating Lease, this is an ‘off-balance sheet’ commercial finance product where the car does not appear on the borrower’s balance sheet as an asset/liability. As the lender retains ownership of the car for the term of the loan, it appears on the lender’s balance sheet. The result being of advantage to some businesses.
Rent to Own Car Finance can be a very effective finance solution for many businesses and we recommend you discuss your specific requirements with your accountant, or have them contact Jade Finance to discuss on your behalf.
The concept of Rent to Own involves the lender purchasing the car and ‘renting’ it to the borrower for a fixed monthly payment over a fixed loan term. Ownership remains with the lender while the borrower has full use of the car and covers all ongoing costs such as rego, service, maintenance, petrol, insurance etc.
- All Rent to Own Car Finance deals are secured with Jade’s cheap interest rates.
- Interest rate is fixed for the term of the rental agreement.
- Fixed monthly payments. Your Jade consultant will negotiate an amount that works with your cash flow.
- Fixed rental period (loan term) up to 5 years/60 months. Your Jade consultant will discuss what best suits your financial projections and negotiate with the lender.
- Off-balance item. The asset/liability is not entered on the balance sheet of the borrowing business but remains on the lender’s books.
- Monthly payments accounted as an operating expense and are tax deductible.
- GST applies to and is claimable on the monthly payments by the borrower.
- At the conclusion of the rental finance term, borrower can negotiate a buy back with the lender to take ownership of the car. Jade Finance can assist with refinancing to buy back the car.
- Suitable for new and used cars, purchased at auction, online, through a private seller or dealer.
- Suitable for different-sized businesses.
- Suitable for many types of cars and business vehicles: sedans, hatch, SUVs, utes, wagons.
Jade Delivers on Promises
Rent to Own Car Finance is a specialist product and Jade Finance are the specialists that can deliver you the best deal. As an experienced finance broker, we are accredited with over 40 banks and lenders so we have a huge pool from which to source you the best deal.
Our consultants are fully trained, licensed finance professionals who will be working for you and in your best interests to secure you the cheapest Rent to Own Car Finance deal on the market.
Speak with a Jade Finance Consultant to discuss a Rent to Own car finance deal for your business motor vehicle purchase. Call 1300 000 008