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Secure Cost-effective Car Commercial Hire Purchase
We offer Commercial Hire Purchase for motor vehicle acquisitions as one of the options in our credit product portfolio. Typically referred to Hire Purchase or CHP, this commercial credit product offers the flexibility to suit both cash and accruals accounting methods and a low interest rate comparable with Chattel Mortgage.
To ensure the CHP works with cash flow for our clients, we secure this form of vehicle finance with a fixed interest rate, fixed terms and with a balloon option. As specialists in commercial vehicle financing, our solutions are optimised for the current taxation benefits on asset acquisitions.
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Exploring Car CHP Rates: Compare and Choose Wisely!
Compare Our Car Commercial Hire Purchase Rates with Other Financing Options
CHP offers clients a very workable interest rate, especially compared with Leasing. With our vast coverage of the commercial motor vehicle lending market and our leverage with many lenders, we have the capabilities to source highly competitive rates across our entire portfolio. Compare vehicle models and credit options using our current rates and contact us for a quote specific to your application.
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Disclaimer: This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
Today's best rate
Finance Equipment From
4.99 % Fixed
* The interest rate is calculated on a secured loan for commercial use, effective 18/11/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.
Today's best rate
Finance Equipment From
4.99 % Fixed
* The interest rate is calculated on a secured loan for commercial use, effective 18/11/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.
Swift Approval for Car CHP - Your Guide to Quick Success
How to Get Fast Approval for Car Commercial Hire Purchase
To start planning the most workable structure for a CHP, buyers can use our vehicle financing calculator. The input values of loan amount, balloon and term can be varied to arrive at the preferred repayment. For fast approval, contact us to apply over the phone or via our online resources.
This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
Demystifying CHP Financing for Cars
Understanding Commercial Hire Purchase Financing for Cars
When seeking funding to purchase new vehicles, enterprises have a choice of a number of credit products – Chattel Mortgage, Leasing and CHP. These products vary in suitability for accounting methods used by commercial entities, the way GST is applied and claimed, how a tax deduction is realised, the ownership of the vehicle over the credit term, the approach to the balance sheet and in interest rates.
While we recommend that our clients discuss the most suitable option with their accountant, it can be of benefit for operators to also understanding the features and benefits of CHP. Contrary to what the title may imply, this is not a product for renting or hiring vehicles. It is a vehicle funding facility where the buyer owns the vehicle at the end of the term.
- Fixed interest rates
- Fixed terms available from 12 to 84 months.
- Balloon option available.
- Compatible with accruals and cash accounting methods.
- Interest fully tax deductible.
- Monthly CHP payments not deductible.
- Tax benefit through depreciation of the vehicle according to ATO schedules and rulings.
- GST claimed as per ATO rulings – full amount claimable at time of vehicle purchase.
Highly Competitive Car CHP Solutions
Get More Competitive Car Commercial Hire Purchase Solutions
Using our broker services, clients can achieve more competitive rates and CHP solutions especially sourced and structured to suit their individual requirements. We work on a direct and personal level with clients, understanding their operation and getting across their financials to proceed to obtain a solution that works for their cash flow and their objectives.
We have over 20 years of experience in sourcing competitive motor vehicle funding and have built up significant leverage with our lender base. We utilise our leverage, sharp negotiating skills, keen financial acumen and our smart tech resources to deliver lower rates and more competitive outcomes for clients.
Accessing our services for CHP is direct with no need for a referral. We provide services to all sized entities in all areas of Australia.
- 20+ years experience in Commercial Hire Purchase Car Financing.
- Australian broker company, across current tax rulings.
- National coverage for Car Commercial Hire Purchase.
- No referral required.
- FBAA Member, Licensed Credit Provider.
Access Competitive Lenders for CHP Car Financing
Get Competitive Lenders for Financing Cars with Commercial Hire Purchase
The motor vehicle funding market is large and sourcing which lender is currently offering the lowest rates can be a challenge for clients on their own. We open access to large lender market coverage with our accreditations with more than 80 lenders. Our lenders include the major banks, other banking institutions and a selection of non-bank lenders.
As specialists in commercial vehicle funding, we know the matrix used by our lenders so we can quickly source the right lender for each client profile. Through our industry-level connections, smart technology and resources, we know which lenders are offering the lowest rates at any particular point in time.
- Access to 80+ lenders for lower rates on Commercial Hire Purchase for Motor Vehicles.
- Right lenders for lower rates, more workable terms.
- Comprehensive service to source and structure Car CHP.
Diverse Businesses & Vehicles - Explore Now!
Get Car Commercial Hire Purchase for Wide Range of Vehicles, Businesses
CHP is suitable to many enterprises and for funding the purchase of all types of vehicles to be used in a commercial enterprise. We work with clients that in the initial stages of starting up through to long-established companies.
- Commercial Hire Purchase for utes, vans, SUVs, wagons, passenger cars.
- New and Used Car CHP.
- Car Commercial Hire Purchase for sole traders, SMEs, family trusts, unit trusts, corporations, ABNs
FAQs
Car Commercial Hire Purchase
Online calculators only have the functionality to generate calculations based on the values input by the user. The device does not allow for lender fees and charges or for variations in credit profiles of the calculator users. Offers can be different from the results achieved using a calculator.
Yes. All commercial entities that hold an ABN can be eligible to apply for commercial financing.
CHP is a financing product with ownership of vehicle in full acquired after all repayments and the balloon are finalised.
Interest rates on CHP will vary across the lender market and for individual applicants. To obtain a specific rate based on individual credit and business profile, operators can request a quote.
The repayments on CHP are not tax deductible. The interest portion of the repayments is a deduction. The vehicle is depreciated in line with relevant depreciation schedules to realise a tax deduction.
Terms for CHP for motor vehicles can range from 1 year to 7 years.
A balloon is the percentage of the loan amount which is set aside and due to be paid in full after the final monthly payment.
All types of commercial vehicles may suit CHP financing. The choice as to which is the most suitable financing option will depend on aspects of the business set-up.
Commercial entities can select from CHP, Lease and Chattel Mortgage to fund vehicles. The better option will be the one that suits the accounting practices and financial objectives of the entity.
Yes. CHP may be used to fund purchases of both new and used vehicles to be used for commercial purposes.
Typically, lenders will attach a fixed interest rate to CHP financing. The rate remains fixed over the full term of the loan.
No deposit financing refers to the full purchase price of the vehicle included in the loan. Approval of a no deposit request will be subject to individual lender guidelines.
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