How it works
With this option, Lender purchases the vehicle and then leases it to you. You then enjoy the use of the vehicle or equipment for an agreed time in return for rental repayments. You can also lease a vehicle which you have already purchased in the last six months. When the lease expires you can choose to:
- return the vehicle to Lender who can sell it in the market place (you would need to make up the shortfall if the net sale was less than the agreed residual value); or
- make an offer to Lender to purchase the vehicle, which Lender may accept.
Features and benefits
- Rental payments may be fully tax deductible if the equipment is used solely for earning assessable income. Speak to your accountant for further information about tax benefits.
Manage your cash flow
- Lender’s finance lease gives you immediate access to the vehicle your business needs without a capital outlay so you can put your day-to-day cash flow to better use
- Tailor the rental payments to suit seasonal cash flow
- The equipment being leased is normally sufficient security for the lease so your other business assets are not required as security.
Flexible rental options
- Match your lease to the length of time the vehicle is required – lease terms available from 1 to 5 years
- Make rental payments monthly, quarterly, semi-annually, annually, seasonally or irregular
- Rental payments can be made from your nominated bank account, by direct debit or via BPAY
- Rental payment costs are fixed once your contract starts so you always know what your repayments will be.
Before you start, you will need to:
- Be looking to lease a vehicle costing $10,000 or more
- Have your business registered in Australia
- Have a good credit history