There are plenty of reasons to need to purchase car or vehicle for your business, but organising the finance can seem complicated. We’ve compiled a quick information sheet and checklist to help you secure your car loan.

Types of Commercial Vehicle Finance

Firstly, there are many types of vehicle finances available to business owners, depending on your needs.

• chattel mortgage
• novated lease
• hire purchase
• car finance lease

Chattel Mortgage

A chattel mortgage (or equipment loan) is an agreement consisting of funds borrowed to purchase equipment or trucks for business needs, and where there is a charge is for the vehicles being financed.

Novated Lease

A novated lease refers to a new type of lease agreement between employer, and empleyees and the finance company. A novation agreement is entered between all three parties, and then gives responsibility for the lease rental to the employer during the lessee’s (employee) employment. On the employee leaving employment, the agreement ends, with responsibility for the lease returning to the employee. It’s like a company car.

Hire Purchase

A hire purchase exists where the business owner agrees to pay a regular hire amount for the car or vehicle, up until the full amount owed for the car is paid, in which time the ownership of the vehicle is then transferred to the business owner; effectively purchasing the car.

Car Finance Lease

A car finance lease is an agreement for financing equipment where the financier holds the title and the car is leased to the borrower or business owner, for an agreed term and amount. The residual value is reflects the asset’s value at the end of the term.

What car of vehicle finance is right for your business?

Depending on your business, and business vehicle needs, your financing requirements are going to vary greatly. Types of vehicle finance we offer includes:

• • Vehicle Financing & Replacement
  • Plant & Equipment Finance
  • Courier & Limosine Finance
  • Low Doc Finance For Professionals

At Go Get It Finance, we prefer to offer you a finance option which will best benefit your business both now, and in the long term. We believe personalised service is the only way to achieve this.

Whether you need a work van, company car, or a whole new fleet, Go Get It Finance can help you get your business vehicle finance moving.

Take a look at our flexible vehicle financing here. 

Or our courier and hire car financing here.