Car & Truck Loans
​Vehicle Finance Made Easy - "EZ"

​Types of Car Loans

• Car Loans
• Finance (CAR & Truck) Lease
• Commercial Hire Purchase (CHP)
• Chattel Mortgage
• Novated Lease ( and Salary Packaging)
• Fully Maintained Novated Lease
• Personal Loan
• Unsecured Loans

Car Loans

A standard Car or Truck loan is the most common type of loan in the market place. The loan is secured against the vehicle for a specified term (normally 5-7 years). The customer will take possession of the vehicle at settlement of the purchase and the financier retains an interest in the vehicle until the entire loan is paid back. Standard terms available with this loan may include

• A choice of variable or fixed loan repayments
• A deposit made up of cash or trade-in may be used
• A balloon Payment ( this is where 10%-30% of the purchase price is payable at the end of the loan term) can be built into the payment structure, effectively lowering the monthly repayment to suit most budgets.

This type of loan is suitable to the person who is looking to purchase a new or near new vehicle and may not have significant business use for the vehicle. (A tax deduction may apply to some fees or repayments if the vehicle is for business use - please seek advice from an accountant on this)

Finance (car or truck) Lease

A Finance Lease is commonly used to purchase business or commercial vehicles. Whilst the purchaser has 100% use of the vehicle, the financier retains actual ownership. In essence, the financier purchases the vehicle on behalf of the customer, who then Leases the vehicle from the financier and pays a fixed monthly lease payment for the term of the lease. At the end of the lease period, the customer can either pay the residual amount owed (final lump sum payment) and take full ownership of the vehicle or re-finance the residual amount (or trade in the vehicle and start again with a new lease and new vehicle)
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Normal structures for Leases include.-

• Fixed monthly Lease payments
• Monthly repayments can be lowered with a lump sum residual
• All costs are known from the start
• Lease payments can be made in advance for tax and cash flow purposes
• GST is claimed by the financier, therefore only the purchase price excluding GST is financed, which in turn, will lower repayments.

Ideally, vehicle leasing is suitable for companies, partnerships, sole traders and individuals whereby the vehicle is used for income producing purposes.Speak with our EZFinance COMMERCIAL advisor for any Business or commercial financing.

​“Getting Finance just got easy – EZ”

* Please speak to your Accountant or Financial advisor before committing to a finance contract

Vehicle Loans. Car and Truck Finance just got easy with "EZ".

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