So, you have your dream car firmly in your sites but like most people, purchasing the car for cash is not a preferred option. With a variety of finance options available to you, which one should you look to? Read on to get a brief snapshot of the most popular finance options.
Chattel Mortgage
Chattel Mortgage – has gained popularity with small/medium businesses since the implementation of GST. A Chattel Mortgage is a contract where the financier gives you funds to purchase goods in return for regular repayments. When final payment is made the financier has no more interest in these goods.
Commercial Hire Purchase
Commercial Hire Purchase – a contract where the financier gives you possession and use of the item in return for regular repayments. When final payment is made the hirer owns the goods.
Finance Lease
Finance Lease – a lease contract is where the financier purchases the equipment and leases it to you for an agreed term and amount.
Novated Leasing
Novated Leasing – is an agreement between the employer, employee and the financier. You can save on the initial purchase price of the vehicle and receive attractive tax advantages.
It Is Your Choice
When you are considering options for financing your new or near new car, it is a good idea to check with your accountant about the various tax advantages of each finance option. Areas for consideration include GST, income tax, company tax, luxury tax and fringe benefits tax.
Once you have reached a decision for the most suitable option, let us take care of finding the best deal for you. As a matter of fact, when you are looking to buy a new or near new car, simply let us know what vehicle you are looking for plus any options you may wish for the car (factory or after-market gadgets such as Bluetooth, navigation systems or premium audio entertainment, leather, special trim as well as engine performance enhancements, special wheels etc) and we do the rest.
stop:watch Vehicle Management will source a vehicle for you at an amazing price. We use our buying power to gain National Fleet Pricing for all our new car customers and have a large database of prestige used vehicles looking for a new home. Then stop:watch Financial Solutions can get you a great deal from a competitive pool of financiers and all you need to do is pop in to sign the documentation and collect your keys.
