Commercial Hire Purchase

Purpose  Available for companies and business professionals to buy business goods such as motor vehicles, trucks, industrial plants, professional or earthmoving equipment.  
How it works  The hire purchase agreement is a contract where the finance company (the "owner") gives the "hirer" possession and use of an item of equipment in return for regular payments.

When the final payment is made, the "hirer" owns the goods.
 
Product Benefits:    
Tax deductible  Depreciation on the equipment and the interest component of the rental are tax deductible if it is used to produce assessable income or the expense is necessarily incurred in carrying on a business. Speak to your accountant for further information about tax benefits.  
No deposit  An offer to hire can be arranged with no deposit or an amount that suits you.  
Free up other valuable assets  The equipment being purchased is normally sufficient security for the finance - your other business assets are not required as security.  
Match your cashflow  Tailor the repayments to suit seasonal cash flow. You can also arrange to make a balloon payment at the end of the loan to reduce repayments throughout the term.  
Early repayment  You have the flexibility to repay the contract in full before the term ends.  
Interest rates  The repayments are fixed throughout the life of the loan.

Finance Lease

A Finance Lease is a contract where the finance company (the lessor) purchases the equipment or vehicle required by the customer (the lessee) and is therefore the owner of the goods. The finance company then leases the goods back to the customers under a lease agreement, which carries a residual value, the term, and the monthly rental and depreciation rate.

When the lease expires, the goods in return for regular payments. When all payments are made the title of customer has the opportunity to return the goods to the finance company that will dispose of the goods in the market place. If the net sale price is less than the residual value agreed upon, it is the customers responsibility to clear the shortfall

The customers can refinance the residual subject to the finance companies acceptance. Make an offer to purchase the goods (normally for the residual amount)

Who Can Take Our Finance Lease?
Companies and business professionals wishing to finance items such as Motor vehicles, trucks, industrial plant and equipment, earthmoving equipment, business and professional equipment which is used predominantly for business purposes.

Features
Customers can finance the goods and therefore working capital can be used for other purposes.
The term of the lease can be a maximum of 60 months (subject to the Finance company and ATO guidelines
There are no ongoing monthly fees
Customers can negotiate rentals and residual values within an approved range that allows more flexibility.
Customers may be able to claim full tax benefits if the goods used are to produce assessable incomes
Repayment schedules can be structured to suit your cashflow.
Installments are lower during the term of the loan, and then negotiate the residual payment at the end of the term.

Term
Minimum tem of 12 months to maximum of 60 months.

Repayments
Repayments are monthly, quarterly, semi annually, yearly, seasonally or irregular.
Payments can be made by Direct Debit, periodical payment from your nominated bank account, B-Pay or deposit booklet.

Interest Rate
The Interest Rate is fixed throughout the term of the loan. It is based on market/economic conditions and strengths of the applicant.

Novated Lease

Purpose  For employees who have the option of receiving a car as part of their salary package. The employer pays all rental payments to the finance company and the employee enjoys full use of the motor vehicle. 
How it works  The employee chooses a car and leases it from the finance company .

The employee then novates the lease to their employer, who assumes all the employee's rights and obligations under the lease, including responsibility of meeting the lease rentals.

The contract is in the name of the employee who remains the registered owner throughout the lease and keeps effective control of the vehicle at all times.

If the employee leaves the company, the vehicle remains with the employee. In this situation generally the employee takes over the payments or gets another employer to make the payments. This means, the original employer is not left with an unwanted car and the employee keeps the vehicle.
 
Product Benefits:  
Benefits for employees  Use of the vehicle without having to budget for the repayments.
Option to buy the vehicle without a deposit or the hassle of being reimbursed from your employer.
Complete choice about what car you buy and where you buy it from.
Retain the car even if changing employment.
 
Benefits for employers  If the employee leaves, the company is not left with an unwanted car.
The employer can provide the employee with a car without having to reflect it on its balance sheet.
 
Interest rates  The rentals are fixed throughout the life of the loan. 
Product Features:   
Term  One to five years 
Loan amount  $10,000 and upwards.
Repayment frequency  Monthly, quarterly, semi-annually, annually, seasonally or irregularly. 
Repayment methods  Direct debit and periodical payment from a nominated bank account, BPAY® and cash/cheque deposits via a cash booklet.

Chattel Mortgage

Purpose  Provides finance for companies and business professionals to purchase goods such as motor vehicles, trucks, earthmoving, industrial plant and professional equipment, which are for business use more than 50% of the time. 
How it works  You take ownership of the goods upon delivery and the finance company secures the loan by registering a charge over the goods.

Product Benefits:
Minimal capital outlay  You own the goods your business needs without paying for them up-front with a chattel mortgage. So you can put your day-to-day cash flow to better use. 
Tax deductible  A chattel mortgage may provide tax benefits if the financed goods are used to produce assessable income. Speak to your accountant for further information about tax benefits. 
No deposit  100 per cent finance is available to approved customers, so you don't have to tie up your day-to-day cash flow. 
Match your cash flow  Repayments can be tailored to suit seasonal cash flow. You can also arrange to make a balloon payment at the end of the loan to reduce repayments throughout the term. 
Early repayment  You have the flexibility to repay the contract in full before the term ends. 
Interest rates  Your new equipment acts as the security for the loan, so wecan offer you a competitive interest rate, which will be fixed throughout the life of the loan. 
Product Features:   
Term  One to five years.
Loan amount  $10,000 and upwards. 
Repayment frequency  Monthly, quarterly, semi-annually, annually, seasonally or irregularly. 
Repayment methods  Direct debit and periodical payment from a nominated bank account, BPAY® and cash/cheque deposits via a cash booklet.

Rentals

To succeed in business today, the right equipment is essential. A customised operating lease gives you full use of an asset while allowing you to avoid many of the risks typically associated with ownership - such as depreciation in value, obsolescence and asset disposal.

If you are looking for an effective way to manage your equipment needs, Specialised Asset finance can provide you with leading and asset management expertise to give your business the edge. Our unique leasing solutions make it easier to acquire almost any type of equipment, giving you more time to focus on running your business.