Business Car Finance

Finance Lease (Car Lease)

A Car Lease lets a business to have the use of a car or commercial vehicle and the benefits of ownership, but the bank/lender retains actual ownership of the vehicle.

Commercial Hire Purchase (CHP)

A commercial finance product where a business/individual “hires” a car from the bank/lender for a fixed monthly repayment over a term, and has the option to purchase the car at the end of the term.

Chattel Mortgage

A commercial finance option under which a bank/lender loans money to a business to purchase a car or commercial vehicle and then secures the loan with a mortgage over the vehicle.

Novated Lease

Novated Leasing is not strictly a business car finance option, but it is a great way for businesses to offer an added incentive to their staff at no extra cost to the employer, by salary packaging employees’ vehicles.

Fully Maintained Novated Lease

It’s not strictly a business car finance option, but is a great way for a business to offer an added incentive to their staff at no extra cost to the employer, by salary packaging employees’ vehicles and their operating costs.

Not sure which finance option is best for your business?