Vehicle & Commercial Equipment Finance Services
Does your business need a new car or other equipment?
When it comes to choosing the right vehicle or commercial equipment finance for your business, it’s important to consider how different loans will affect your business goals, your cash flow, your financial statements, and your tax.
Generally, you’ll be choosing between four types of commercial equipment finance:
- Commercial hire purchase
- Chattel mortgage
- Operating lease
- Finance lease
With a chattel mortgage, your business will own the car or equipment from the beginning of the lease, while with a commercial hire purchase, you will own the asset at the end of the lease. With both these loan options, the asset will go on your business’s balance sheet.
Operating leases are similar to paying rent, and are recorded as a business expense. However, you will not own the car or equipment at the end of the lease. Whether a finance lease appears on your business balance sheet depends on whether you will own the asset at the end of the lease.
With so many different lenders and loans out there, and so many factors to consider when choosing one, trying to identify the right vehicle or commercial equipment loan for your business can be overwhelming.
Thankfully, you don’t have to do it alone.
As an accredited Brisbane mortgage broker, I help you choose a mortgage or commercial equipment finance option that aligns with your goals, and will be of the greatest benefit to you at tax time. I know the right questions to ask to get the information we need to make that decision. I will guide you through the entire process, and take care of as much of the paperwork as possible.
If you would like expert advice and guidance as you select an appropriate car or equipment loan for your business, then we need to talk. Send me a message, or call me today on (07) 3911 1190 to set up a time for a free consultation. I look forward to helping you make smart, informed decisions for your business’s assets and future.