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Commercial Hire Purchase (CHP), Car Loans, Car Finance - Melbourne Car Loans
Prefer to talk? Call 1300 887 967 Mon-Fri 9am to 5pm (AEST)

Commercial Hire Purchase

With our Commercial Hire Purchase facility, the equity in your car increases as the term of the contract progresses, so you own it outright at the end of the contract. You can get 100% finance for the purchase price, pay a deposit, or trade some of your equity as part of the agreement.

We’ll structure your payments to suit your cash flow, and you can choose whether or not to have a balloon payment at the end of the contract. You’ll have a fixed interest rate for the term of the contract, so you can easily plan ahead. Also, depreciation and interest may be tax deductible.

Features

  • 100% Finance - Choose between depositing funds to help reduce the overall debt or ask us to finance 100% of the purchase price of the car.
  • Flexible Term - 1 to 5 years terms available.
  • Balloon - A lump sum payment due at the end of the agreement. It helps to reduce repayment amounts during the loan.
  • Instalments - With each instalment you gain equity in the car.
  • Security - Security is usually taken over the car that is financed. We might ask for additional security.

Goods and Services Tax (GST)

  • The financier claims the Input Tax Credit (ITC) when the car is purchased from the supplier.
  • The financier then issues a tax invoice (including GST) to the customer (the Commercial Hire Purchase agreement).
  • If the customer holds an ABN and accounts on an accrual basis, the customer may be able to claim the ITC upfront. Otherwise the ITC may be claimed over the life of the agreement.
  • No GST is payable on repayments, any balloon or terms charges.
  • From a taxation perspective the customer is treated as having acquired the car from the financier via a loan at the commencement of the agreement. However, full title of the car does not pass to the customer until final payment is made.

More Information

  • Get an online quote in less than 30 seconds
  • Call 1300 887 967 to speak with a car finance expert
  • Apply now for your obligation free pre-approval

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