Comprehensive Car Financing Information
Motor Vehicle Loan
A loan is for a car that is predominately for personal use that you want to own outright. This type of loan includes the following features:
- All on road costs, registration and insurance costs can be financed
- Terms range from 1-5 years
- You can pay monthly or fortnightly
- Interest rates are fixed which means you are protected against interest rate fluctuations
- You can pay by direct debit, which means you do not need to worry about making payments as they come directly from your account
Motor Vehicle Novated Lease
A Novated Lease allows you to choose the car you want to drive for work not the car work wish you to drive. You can take the car with you to your next job. A Novated Lease means:
- Your employer will pay your payments as negotiated in your salary package
- All on road costs and registration costs can be financed
- Fixed monthly payments
- Can be tax effective for fringe benefits tax and income tax
Motor Vehicle Asset Purchase
Also known as Hire Purchase and Term Purchase, this loan is for people who use their car for business and includes the following benefits:
- All on road costs, registration costs and insurance can be financed. This will increase your cash flow by minimising your monthly payments and all business related expenses are tax deductible
- Fixed monthly payments mean as interest rates fluctuate your monthly payments stay the same
- You own the asset at the end of the term, and the payments are flexible to suit your cash flow
Motor Vehicle Finance Lease
Primarily for a car that is used for business and when you want the flexibility of lower monthly payments with the option to upgrade the car at the end of the loan contract. Also includes the following features:
- All on road costs and registration can be financed
- Fixed monthly payments mean as interest rates fluctuate your monthly payments stay the same. And because of the residual, monthly repayments are lower
- Business use of your car may be claimed against your taxable income
- At the end of the lease you have the option to upgrade the car, extend the lease for a further period or another person can purchase the vehicle
Chattel Mortgage
- This product may be of benefit to business customers who utilise a cash accounting system. The Income Tax Credit (GST) may be claimed upfront via the BAS (business activity statement) rather than over the life of the loan
- All on road costs, registration costs and insurance can be financed
- Fixed monthly payments
- Business related expenses are tax deductible
Fleet 1st will provide finance proposals arrange applications and prepare the documentation and settlement. We aim to make the process as hassle free and seamless as possible. It's all part of the service.
Download a printable finance application form below and fax thecompleted form Attention-Finance to (08) 6210 1327.
