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Access Lower Rates, Tax-Optimised Truck Hire Purchase
As specialists in commercial heavy vehicle lender, we provide operators with a thorough and comprehensive service to secure lower rates and tax optimised HP vehicle funding. The most cost-effective and workable solution, individually sourced from the right lenders and negotiated to meet specific client ROI, cash flow and long-term targets.
HP offers flexibility for many operators as it is compatible with accruals and cash accounting methods and attracts an attractive interest rate, on par with Chattel Mortgage. Utilise our expert services to secure cost-effective HP funding for your choice of vehicle – heavy, medium, light duty, new and used.
This won't affect your credit score
Compare Business Finance Hire Purchase Truck Finance Rates
The interest rate is critical to the overall workability of the funding and achieving ROI on the vehicle acquisition. We focus heavily on securing lower rates across our portfolio to ensure our clients can achieve cost-effective credit and work towards achieving their objectives. Use our current rates to compare HP with the other credit facilities and to compare vehicles with different price points to assist with buying decisions. As rates will vary for different applicants, it is advisable to contact us for a rate quote specific to your profile and the vehicle being purchased.
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Disclaimer: * The comparison rate displayed is calculated for a loan of $30,000 over 5 years. The results from this calculator should be used as an indication only. Quoted repayments are based on advertised rates and do not include lender fees and charges. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you speak with us so that we can provide you with advice that is tailored to your situation.
Today's best rate
Finance Equipment From
4.99 % Fixed
* The interest rate is calculated on a secured loan for commercial use, effective 21/05/2024 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 21/05/2024 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.
Get an Overview of Truck Hire Purchase Financing
HP is a credit facility and not an agreement for hiring vehicles. The objective at the end of the credit term is to own the vehicle. It is one of several options available to commercial entities to fund asset purchase. The options which also include Leasing, Rent-to-Own and Chattel Mortgage, have differences and variations in regard to a number of primarily accounting related features. It is advised that clients refer to their accountant as to which is the most suitable option for their operation.
HP has a number of similarities with both Chattel Mortgage and Leasing but is a distinct credit facility. It is suitable for entities that used both the accruals and the cash accounting methods. The tax deductions are similar to Chattel Mortgage in that the vehicle is depreciated in line with ATO rulings at the time of purchase.
With a tax deduction realised through depreciation, the monthly repayments are not a deduction, only the interest portion is deductible.
GST can be claimed in full straight after purchase and a balloon is an option. When securing HP for our clients, we ensure the interest rate is fixed and won’t change over the full term. Terms are fixed with up to 7 years/84 months achievable. Rates and terms are negotiated directly with our lenders to deliver a fixed repayment schedule that works with our client’s cash flow.
- Suits both cash and accruals accounting methods.
- Balloon option.
- Tax deductions through vehicle depreciation.
- Full GST claimed on BAS following purchase.
- Fixed rates, fixed terms up to 7 years.
- Fixed repayments structured to work with cash flow.
Get Expert Services to Secured Competitive Truck Hire Purchase
All types of entities, even owner-drivers and those starting a new operation, can directly access our expert broker services to secure HP vehicle funding. Our services are available Australia-wide with all our brokers based in Australia for quick connects and streamlined communications.
We operate on a very individual level, addressing client’s requirements individually and sourcing solutions which are negotiated and sourced to directly meet their individual objectives. Our brokers are highly experienced in vehicle funding and have sharp financial acumen to understand financials and structure HP to suit each client.
With more than 20 years of experience in the Australian commercial lending market, we have established an enviable reputation for delivering lower rates and targeted vehicle credit solutions. To ensure our services are readily available to all clients, no referral is required.
- 20+ years of experience sourcing Hire Purchase Truck Finance.
- Australian owned and operated broker services.
- Skilled brokers with sharp financial acumen and negotiating skills.
- Services available and accessible Australia-wide.
- Direct connect, no referral.
- Member FBAA, Licensed Credit Provider.
How to Connect with the Right Lender for Your Hire Purchase Truck Loan
As many operators will be well aware, the commercial lending market is extensive and getting across sufficient options to identify the one that best suits them, can be time challenging. With our extensive lender accreditations, industry intel and smart technology, we connect clients with the right lender quickly and efficiently. Going well beyond the connect, our brokers handle all lender communications and negotiations from quote to settlement.
Our accreditations include the major banks as well as specialist heavy vehicle lenders that have a deep understanding of the market. Connecting with the right lender can deliver lower rates and more amenable terms and conditions.
- Access 80+ lenders.
- Specialist heavy vehicle non-bank lenders.
- Complete broker service to handle lender negotiations.
Fast Truck Hire Purchase Approval
For planning purposes, buyers can use our HP credit calculator for a rough idea of repayments prior to requesting a quote or submitting an application. Contact us for quotes for your specific requirements and fast 24 hour approval.
FAQs
Truck Hire Purchase
An online calculator only provides basic estimates. They do not include lender fees and charges or differences in user’s credit profiles. A quote can be higher due to the functionality of the calculator.
HP is a credit facility for buying heavy vehicles and other assets.
HP rates are comparable with Chattel Mortgage with specific rates subject to lender approval of individual applications.
No. Only the interest portion of the repayments is a tax deduction. A tax deduction with HP is realised when the vehicle is depreciated.
No. The full amount of GST applicable to the purchase is claimed directly after purchase. No GST is applied to repayments.
An HP balloon is a set percentage of the loan total which is due for payment as a lump sum after the final repayment is made.
Yes. HP can be used to fund all types of heavy vehicles including EVs and hydrogen cells models.
Using a calculator allows buyers to compare repayments on HP with Leasing.
Yes. Used vehicles can be funded with the choice of commercial credit facilities including HP.
Including the full purchase price in the loan amount is a commonly used practice. It will be subject to lender approval of that total amount in relation to the operator’s credit profile.
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Trusted by 60+ lenders Australia-wide
Trusted by 60+ lenders Australia-wide
