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Car & Equipment Finance Adelaide
Start your journey, contact Inovayt Adelaide today
Car & Equipment Finance Adelaide
Start your journey, contact Inovayt Adelaide today
Car & Equipment Finance Adelaide
Car and equipment finance solutions are perfect for both personal and business use. Regardless of what asset you’re after, there may be an option for you.
What is personal asset finance?
There are a multitude of vehicles that are available under personal asset finance, including jet skis, cars, boats and motorbikes. Our team of experts assist you with secured and unsecured personal loan options so you can start living the life of your dreams without the wait.
What can business asset finance do for your business?
Business asset finance is a way that businesses can ensure they’re maintaining a competitive edge in the industry. Asset financing can assist with cash flow organisation, accelerated productivity and the replacement of ageing assets.
What is a chattel mortgage?
A chattel mortgage allows the business to use the asset they purchased as collateral for the loan. Unlike a regular property mortgage, this mortgage option refers to anything with a serial number, such as factory machines or vehicles.
Am I eligible for a low doc loan?
A low doc loan works like a regular full doc loan. However, both loans require strict criteria for businesses, such as the length of time a company has held an ABN for GST registration. to a regular full doc loan. However, each loan has different criteria that a business needs to meet. Low doc loans primarily allow strong, established businesses to fast-track their loan application.
Our frequently asked questions
As a consumer, there are often many questions about business and personal asset finance. Here are some of the ones we get asked the most.
Asset finance is a great option if you want to get your new asset without the wait. This option allows you to obtain larger assets through hire or lease without purchasing the asset outright. There are many benefits of asset finance for both business and personal use.
- Â The potential to reduce larger loan costs
- Â Can free up capital
- Â allows you to improve your cash flow
- Â Gets you your new asset faster
Equipment finance is the perfect solution for businesses that rely heavily on machinery tools and equipment to operate. This financial option can be used for a range of things, including:
- Â Work tools
- Â Trade tools
- Â Office computers
- Â Heavy machinery
- Â Farming equipment
A balloon payment is the lump sum of money owing at the end of your loan. It’s often an option used by borrowers to reduce their monthly repayments across the span of the loan. The terms of your loan, including your balloon payment, can be negotiated with your lender.
Balloon repayments differ based on your chosen lender. The maximum amount of money you’ll pay in your balloon payment is capped at 50 per cent of the loan amount, meaning, if you have a 50 per cent balloon on a $30,000 car loan, you will pay a balloon payment of $15,000 after your loan term.
Asset finance is perfect for those who want to get their new asset sooner. The longest loan you can have for this financial solution is seven years, but be wary that you’ll pay more interest the longer your loan.
Novated leases and car loans have similar features and some key differences. These include the following.
- Â Regular repayments are made for both.Â
- Â Balloon payments are an option at the end of each loan.Â
- Â A novated lease is a three-way deal between you, the lender, and your employer.
- Â You own the vehicle from day one with a regular car loan.Â
- Â Once the loan term ends on a novated lease, and the balloon payment has been repaid, you own the vehicle.
- Â After-tax earnings are used to finance a car loan, whereas pre and post-tax pay are used for a novated lease.Â
Helpful resources
Budget Planner
Work out where your money is going with our Budget Planner calculator. You can customise the item names and save your results.
Meet our Adelaide asset finance broker
Our experienced and friendly team can provide you with lifetime financial solutions by understanding your individual needs and goals.
Get in touch
1300 354 355
1300 354 355
Send us an email
info@inovayt.com.au
Start your journey, contact Inovayt Adelaide today
Get in touch
1300 354 355
1300 354 355
Send us an email
info@inovayt.com.au
