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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. 

Business car finance

If you’re in need of a business car loan, some of the available options include a chattel mortgage, hire purchase, leasing, Low Doc, or a novated lease. 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. 

Another option for business car finance is a novated lease. This is an agreement between you, your employer and the lender, where your employee pays the loan repayments directly from your pre-tax salary. 

A finance specialist can help

Speaking to a specialist can help you find the right business car loan and get a tailored finance solution. 

Our 360 Finance Specialists can help you find the finance you need, whether for a single vehicle or a fleet of work vehicles. We take the time to understand your business needs to ensure you end up with the right business car loan. 

With access to commercial finance options and rates from more than 30 lenders, we can help you get the best rate, saving you both time and money. 

Contact our team for more information on business car finance.

Business car finance options:

Low rates • Tax effective • Flexible terms & residuals • 1-7 year terms

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.

Tax effective • Flexible terms & residuals • 1-7 year terms

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.

Speak to one of our Commercial Finance Specialist to discuss which finance options would suit you and your business.

Tax effective • Lease with the intent to buy • 1-7 year terms

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.

Speak to one of our Commercial Finance Specialist to discuss which finance options would suit you and your business.

Great options for startup businesses • 1-7 year terms

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).

Speak to one of our Commercial Finance Specialist to discuss which finance options would suit you and your business.

Tax effective • Great employee benefit • 1-5 year terms

A Novated Lease is a tax effective solution for purchasing a vehicle, particularly if the vehicle is for work purposes or the vehicle purchaser receives an allowance from an employer. Novated leases from 360 Finance can be arrange for individuals looking to purchase a vehicle or implemented into your business as an additional Employee Benefits Program.

Click the link below to learn more about Novated Leasing options for individuals and businesses.

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We'll find your next business vehicle or a fleet and great finance.

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.

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Competitive
We have access to some of the lowest industry commercial rates allowing us to be highly competitive and get your best rate finance.
Tailored
Our Commercial Team takes time to understand your business needs then works to find the best tailored and flexible finance solution.
Fast approvals
We work hard to get your loan approved fast. Same day approvals are available - ask us how!
Easy
We do the running around for you in comparing commercial finance options and rates from over 20 lenders.

Calculators

Calculators and rates

At today's lowest car finance rate of 3.68%
(Comparison rate 4.88%) you'll pay approximately...

$ per *

At today's lowest car finance rate of 3.68%
(Comparison rate 4.88%) you can borrow approximately...

$*

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