Asset Finance - Sunshine Coast Mortgage Brokers
Get the right finance for cars, boats, machinery, caravans etc.
There are many finance options when you are considering an asset purchase, especially when you purchase as a business with tax benefits. Do you know what is the best option for you? Speak to the team at Orchard Financial Group on the Sunshine Coast who can explain the benefits and different options available to you, such as Equipment Loans, Hire Purchases, Finance Leases and more. Nicky and the team will also source the right lender who can offer you the most appealing and affordable rates.
Own the asset from the beginning, with the loan secured to the asset.
If you’re self employed, an equipment loan (also known as a chattle mortgage) can be of great benefit as an alternative to standard vehicle finance. As a registered business or company, you can purchase the vehicle your business needs without paying for it up-front, so you can make regular payments (on finance for the entire cost of the vehicle if desired), allowing your cash flow to remain accessible. If the financed vehicle is used to produce assessable income, then the business would commonly be available to receive tax benefits, being a major cost saving factor in mortgages.
Hire your equipment over a fixed term (with payments tailored to suit your business). You’ll own the asset after the final term payment.
No upfront deposit is required and you can choose from a range of terms to best suit your finances. The financier owns the equipment during the term of the lease.
A novated lease (“novation agreement”) is an agreement between an employer, employee and a lease company, where the employee leases a vehicle from the lease company, and the payments are made by the employer (the costs are then deducted from the employee’s pre-tax income). This process is also commonly referred to as salary packaging. Novated Leasing allows you to pay for the vehicle (including associated running costs) from your pre-tax salary, rather than after-tax. The general beneficial outcome is that the individual leasing the vehicle reduces their taxable income and ultimately saves on tax.
If you’re considering a personal loan to consolidate existing debts, or for any other reason, there are a range of options available and significant variations in interest rates and fees from the many lenders. Speak to Orchard Financial Group who can evaluate the options from many lenders and provide you with suitable solutions.
Take the first step towards finding your right finance solution and let us do the hard work for you.