Company Car Finance
Total Funding provide business car finance and commercial car leasing, enabling you to manage everything from a single company car to distribution fleets. Whether you need company cars, delivery vans or other work vehicles, we can help you save time and money with competitive finance options. We can also help with larger vehicle financing such as buses and trucks.
While we offer commercial loans for business car purchases, we also offer an extended range of finance services designed to help businesses. These services include;
- Chattel Mortgages
- Invoice Financing
- Car Leasing
- Rental Packages
- Hire Purchase
Much like a personal car loan, a chattel mortgage allows business and sole traders to borrow the funds necessary to purchase work vehicles or company cars. The vehicle is owned by the business, though a charge is taken over the item financed.
It is possible to claim tax deductions on the interest and depreciation, as well as the GST on the purchase price. You can even include a balloon payment amount in the finance agreement.
Also known as invoice discounting, this service allows small to medium sized businesses to take out finance against customer’s unpaid invoices. The benefit is you can monetise the work you’ve already done, expanding your business sooner rather than later.
Talk to us today about invoice financing solutions that will help you get the vehicles you need to meet the workload ahead.
We find many businesses requiring company cars prefer to acquire them through lease agreements. This is an arrangement where the financier holds the title and leases the vehicle to the borrower for an agreed term and rental amount. There are many benefits to this;
- No deposit necessary
- Repayments are often tax deductible
- Option exists to purchase at the end of the lease for an agreed residual value
Similar to car leasing in that the vehicle’s title remains with the financier, businesses can rent company cars with tax deductible payments. The main difference is that there is no guarantee of ownership as the rental terms are more flexible.
A hire purchase agreement for company cars means the financier owns the vehicle throughout the term of the finance agreement. However, once the final payment has been made the ownership of the car then transfers to the business.
The benefits include possible tax deductions on interest and depreciation, GST claims, balloon payment options and eventual ownership of the asset. It’s important you talk to your accountant to determine if leasing, rentals or hire purchase options are suitable for your business.
At Total Finding we understand that no two businesses are the same. Talk to us about your company car needs and we’ll work to tailor a financial package that suits your business. Call us on 07 5528 1940 or fill in the contact form to the right.