Secured car loans provide lenders with the right to repossess your car if you don’t make your loan repayments. They therefore lower your lender’s risk. Unsecured loans on the other hand don’t provide any security to the lender. Lenders therefore charge higher interest rates on unsecured loans to compensate them for the increased risk.

A novated car lease is a three-way arrangement between your employer, a finance company and you. Your employer deducts the monthly lease payment (which includes the purchase price and running costs) from your pre-tax pay as part of a salary sacrificing arrangement. You therefore are using pre-tax dollars to pay for your car, and you pay less income tax.

A chattel mortgage is a secured car loan for business vehicles. Unlike a lease or hire purchase arrangement, you take ownership of the vehicle immediately.

However, if you don’t make your chattel mortgage repayments, your lender can repossess your vehicle and sell it to recover the amount you owe.

A residual (balloon) payment is an arrangement whereby you make lower repayments during your loan term and a larger final repayment to fully repay the amount you owe. 

Yes, you can save tax by writing off the cost of business vehicles under the instant asset write-off scheme provided that the cost of each vehicle falls within a set threshold. The threshold is $150,000 until December 31, 2020.

Yes, as long as you’re primarily using the vehicle for work reasons, we can help you get financing for a ute, car, truck or whatever you need.