You know that you always want to out you best foot forward and in car finance you definitely want to do this.
You don’t want to just say, “Can I have loan”.
It’s like saying, “Hi I have no idea about loans. So you can charge me what ever you want.”
What if you could say something like this:
“I’m looking for a chattel mortgage with a 40% balloon, over 40 months with a buy back option.”
In the finance industry just like any other industry there are buzzwords that are used to make people sound like they know what they are talking about. the car finance there isn’t any difference and it isn’t hard to learn.
Car Hire Purchase
Car Finance Lease
Novated Car Lease
Chattel Mortgage
Car Hire Purchase
Essentially a hire purchase is a rental agreement. One of the most notable features of a hire purchase is that you keep the asset. A hire purchase agreement is between you, your employer and the finance company.
So hire purchase features
- The asset is your to keep once
- Depreciate can be claimed
- A balloon is an option
- The repayments can be reduced by including a deposit or a trade in
- You have a flexible repayment schedule
Learn more about car hire purchase
Car Finance Lease
A car finance lease is also referred to as a finance lease or car lease is essentially a rental agreement between the financier and you. A car finance lease is a commercial loan product, which has the advantage of owning the car while in actual fact the financier, owns the vehicle.
There are a couple way industry describes a car finance lease some call it just a finance lease or a car lease. This is another rental agreement. It is a commercial loan with all the benefits of owning a car but in reality the finance company owns it and you make rental repayments.
Learn more about car finance lease
Novated Car Lease
A Novated car lease is a great way for a business to give their employees a car as apart of the salary package.
Learn more about novated car lease
Chattel Mortgage
A great way off inancing business equipment. A chettel mortgage is a very flexible loan product.
Learn more about chattel mortgage
