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Looking for car & equipment finance in Lake Macquarie?

Start your journey, contact Inovayt Lake Macquarie today

Car and Equipment Finance Lake Macquarie

The car and equipment finance team in Lake Macquarie are constantly working hard to assist you with financing assets and vehicles – both for personal and business use.

Office location

Newcastle
88 Elder Street,
Lambton NSW 2299

Get in touch

1300 354 355

Call now   ➔

Office location

Newcastle
88 Elder Street,
Lambton NSW 2299

Get in touch

1300 354 355

Call now   ➔

What is personal asset finance?

If one of your financial goals is to sail on the high seas or go on a family caravan road trip around the country, personal asset finance can help. Plenty of leisure vehicles such as boats, jet skis and motorcycles can be obtained through personal asset finance. Our team work with you to find which secured or unsecured loan works best for you.

How can business asset finance benefit me?

A great way to maintain a competitive edge in your industry is through asset finance. All aspects of your business can be serviced with asset finance, which can assist with cash flow organisation, accelerated productivity and the replacement of ageing assets.

What are the benefits of a chattel mortgage?

Businesses can choose to obtain a chattel mortgage in order to get their asset sooner. However, the asset being purchased is used as collateral for this loan. A chattel mortgage is a type of mortgage that relates to anything with a serial number (factory machines, vehicles, etc.), as opposed to a property mortgage.

What is a low doc loan?

For established businesses who require a quicker loan approval than regular doc loans, a low doc loan could be an option. Provided your business meets the length of ABN and GST criteria, you might be eligible for this type of loan and have your application fast-tracked.

Our most frequently asked questions

When it comes to personal and business asset finance, there are some questions we get asked more than others. Here are some of our most frequent ones.

Asset finance can help you obtain your new asset sooner. It allows you to hire or lease an asset without having to purchase it outright. Asset finance for personal and business use has benefits that include: 

  •   Potential  reduction of larger loan costs
  •   Freeing up of capital
  •   Improvements to your cash flow
  •   Gets you your new asset quicker

If your business relies heavily on tools, equipment, and machinery,  equipment finance can provide some great benefits. It can be used to fund assets such as:  

  •   Work tools
  •   Trade tools
  •   Office computers
  •   Heavy machinery
  •   Farming equipment

At the end of a loan, you may be required to pay a balloon payment (if agreed upon at the beginning of the loan). A balloon payment refers to a lump sum of money owed to the lender. This option is popular for consumers who want to decrease their monthly repayments and can be negotiated with your lender. 

How much your balloon payment is depends on your lender. However, the maximum you’ll need to pay for this repayment is capped at 50 per cent of the total loan amount. This means if you have a 50 per cent balloon on a $30,000 car loan, you will pay a balloon payment of $15,000 at the conclusion of your loan.

Your loan term is something that you’ll need to discuss with your lender. For asset finance, the maximum loan term you can have is seven years, but it can be anything from one to seven years. Be wary that the longer your loan term, the more interest you’ll pay.

A car loan and novated lease have some key similarities but also some points of difference. 

  •   They both require regular repayments.
  •   They both have the option to include a balloon payment at the conclusion of the loan.
  •   A novated lease is a three-way deal between you, the lender, and your employer.
  •   With a car loan, you own the vehicle from day one.
  •   With a novated lease, you own the vehicle when the loan term ends, and once you’ve paid the balloon.
  •   A car loan is paid with after-tax earnings and a novated lease from pre and post-tax pay.

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 Lake Macquarie 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


Send us an email

info@inovayt.com.au

Start your journey, contact Inovayt Lake Macquarie today

Get in touch
1300 354 355


Send us an email
info@inovayt.com.au

Start your journey, contact Inovayt Lake Macquarie today

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