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Business car finance
If you’re primarily using a vehicle for work purposes, business car finance may be the most suitable option for you.
Choosing the right vehicle finance to suit you and your business can help you save money and grow your business.
If you’re in need of a business car loan, some of the available options include a chattel mortgage, hire purchase, leasing, or a Low Doc loan. With numerous options for business car finance, it depends on your needs, budget and business as to what may be the best option for you.
A chattel mortgage gives you ownership of the vehicle at the time of purchase rather than at the end of the car loan. This allows you to claim the vehicle as a taxable offset, claim the GST on the purchase price and the depreciation of the vehicle and interest charges on the loan.
A hire purchase involves hiring the vehicle with the intent to purchase it at the end of the loan.
During the term of the loan, the vehicle is owned by the lender so you are not able to claim the vehicle as a taxable offset. A hire purchase allows you to decide whether to include a residual or not.
Working in a similar way to a hire purchase, leasing may be a better option for some businesses, as this type of vehicle financing has a regulated residual value calculated off the loan term.
Unlike many other types of loans, a Low Doc requires little to no proof of your financial position. It instead relies on factors such as the vehicle being purchased, the tenure of your business, your circumstances and your financial position.
At 360 Finance, we offer:
For life and leisure, business or personal, we've got you covered in every situation
Low total cost of loan and low repayments- No deposit loans
- Private, dealer, new, and used cars
- Balloon repayments to lower repayments
Business car finance options
Chattel Mortgage
A Chattel Mortgage is the most common loan type for commercial lending. As the borrower, you take ownership...
A Chattel Mortgage is the most common loan type for commercial lending. As the borrower, you take ownership of the asset at the time of purchase rather than at the end. This means you can use the asset as a taxable offset (in most cases), claim the GST on the purchase price and claim the depreciation of the asset and interest charges on the loan. It’s very flexible with 1-7 year loan terms and residuals available making it versatile for most business types.
Speak to one of our Commercial Finance Specialist to discuss which finance options would suit you and your business.
Hire Purchase
It’s all in the name with this loan type. A Hire Purchase or Commercial Hire Purchase is ‘hiring’ an asset with the intent...
It’s all in the name with this loan type. A Hire Purchase or Commercial Hire Purchase is ‘hiring’ an asset with the intent to purchase it at the end of the loan term. This means that during the term of the loan, the lender owns the asset rather than you (the borrower), so the tax offsets are different from an accounting perspective as it’s not an asset owned by the business.
Lease
A Lease is very similar to a Hire Purchase as it uses the same ownership principles where the asset is owned by the...
A Lease is very similar to a Hire Purchase as it uses the same ownership principles where the asset is owned by the lender for the term of the loan rather than you (the borrower). The primary difference between ‘Hiring’ & ‘Leasing’ in that hiring allows you to decide if to include a residual or not. A Lease however has a regulated residual value calculated off the term of the loan.
Low Doc Loan
Low Doc (also known as No Doc, Self Dec, Lite Doc) requires little to no proof of the borrower’s financial position...
Low Doc (also known as No Doc, Self Dec, Lite Doc) requires little to no proof of the borrower’s financial position but rather relies heavily on the assessment of the tenure of your business, you as the borrower, any guarantor’s financial position as well as the asset being purchased. This is a great option for businesses when they have little or no ‘provable’ servicing (ie capability to demonstrate or prove capacity to repay the loan).
Find & Finance
360's 'Find & Finance' service can help you find your ideal work vehicle or an entire fleet for your business, as well...
360's 'Find & Finance' service can help you find your ideal work vehicle or an entire fleet for your business, as well as source a tailored finance solution that suits your business and accounting structure. Our Procurement Team work with a National network of over 180 dealerships and can source a range of cars and light commercials for you. They then negotiate the price on your behalf and get the best price on any trade-in's - all at no cost to you!
Learn more about our Find & Finance service via the link below.
Competitive
We have access to some of the lowest industry car loan rates allowing us to be highly competitive and find your best rate finance.
Easy
We do the running around for you in comparing car loan options and rates from over 60 lenders.
Fast Approvals
We work hard to get your car loan approved fast. Same day approvals are available - ask us how!
Flexible Terms
We find and compare car loan options to find what best suits your needs and budget with flexible 1-7 year terms available.
We Work with the Most Trusted Aussie Lenders
Our lender network allows us to secure the best rates for you, every time.
Living Life Upgraded
"Living life upgraded. Second purchase with 360 Finance!"
Repeat customers are our greatest compliment. When customers choose us again and again, it confirms that we're delivering on our promise of exceptional service, competitive rates, and genuine care for your financial success.
Apply today with Australia's trusted online broker since 2007
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Kept in Contact Throughout the Whole Experience
"I would like to thank Kyle for his patience and time in getting me my car - Which I love! He kept in contact throughout the whole experience."
Patience and communication are the cornerstones of our service. We understand that buying a vehicle is a significant decision, and we're here to guide you through every step with regular updates and dedicated support.
Apply today with Australia's trusted online broker since 2007