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Looking for car & equipment finance in Melbourne?

Start your journey, contact Inovayt Melbourne today

Car and Equipment Finance Melbourne

Our car and equipment finance team in Melbourne are dedicated to helping you lease and obtain finance for vehicles, machinery, and other equipment to help you achieve your business or personal goals sooner.

Office location

Melbourne

201/55 Walsh St,
West Melbourne VIC 3003

Get in touch

1300 354 355

Call now   ➔

Office location

Melbourne

201/55 Walsh St,
West Melbourne VIC 3003

Get in touch

1300 354 355

Call now   ➔

Personal asset finance

Everything from cars to jet skis can be obtained through personal asset finance. This means that you don’t have to wait for years to start road tripping in a caravan or cruise down the highway on a motorbike. With secured and unsecured personal loans, we’ll find the best one to suit you.

Business asset finance

Asset finance is a great way to maintain a competitive edge in your industry. From organising cash flow, accelerating productivity, and replacing ageing assets, equipment finance can help you to manage and service all aspects of your business

Chattel mortgage

Chattel mortgages are for businesses that use the asset being purchased as collateral for the loan. This type of mortgage refers to anything with a serial number – such as factory machines or vehicles – instead of a regular property mortgage.

Low doc loan

Low doc loans function in a similar way to regular full doc loans. The difference between the pair is the criteria that each business is required to meet to qualify for a low doc loan. These criteria generally revolve around the length of ABN and GST registration. These loans allow strong, established businesses to have their application fast-tracked.

Our frequently asked questions

Between personal and business asset finance, there are some questions you might have. Here are some we get asked the most.

Asset finance is a great way to get your new asset sooner. This allows you to acquire larger assets – often through hire or lease – without needing to purchase the asset outright. Whether it’s for personal or business use, asset finance has a few benefits.

  •   Can reduce more considerable loan costs
  •   Frees up capital
  •   Improves your cash flow
  •   Gets you your new asset sooner

Equipment finance is the perfect solution for businesses that rely heavily on machinery, tools, and equipment to operate. It can be used for a range of things, including:

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

A balloon payment is a lump sum of money owed to the lender. It generally falls at the end of your loan period. While this may not sound like the best idea, it can aid the borrower in decreasing their monthly repayments throughout the loan. This can be negotiated with your lender.

A balloon payment differs from lender to lender. Generally, the maximum cost that lenders cap balloon payments at is a maximum of 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 end of your loan.

There are many factors to consider when deciding what loan term you should go for. Lenders will allow you to have a term between one and seven years for any asset finance. Keep in mind that the longer the loan, the more interest you’ll pay.

The main aspects of a car loan and novated lease are:

  •   Both have regular repayments.
  •   Both have the chance to include a balloon amount at the end 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 term ends, and you pay the balloon.
  •   A car loan is paid with after-tax earnings and a novated lease from pre or 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 Melbourne 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 Melbourne today

Get in touch
1300 354 355


Send us an email
info@inovayt.com.au

Start your journey, contact Inovayt Melbourne today

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