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Car and Equipment Finance

Car and Equipment Financing
 
Vehicles, Computers, business items or Equipment purchases          
 
Our experienced finance professionals are dedicated to ensuring your next vehicle or equipment purchase is easy and stress-free. We offer you the highest level of personal service whilst taking all the frustration and worry out of the equation.
 
Let Noble arrange an approval for your new purchase leaving you free to get on with living your life. We’ll negotiate with the banks and finance companies on your behalf to secure the best rate and product to suit your business or personal needs and liaise with your supplier to ensure a seamless transaction and timely delivery of your new purchase.
 
Whether you require finance for business or personal use, in the name of a business or an individual, Noble will be able to help you.
 
 
Types of Equipment Finance
 
Hire Purchase (or ‘Offer to Hire’)
 
An agreement between the hirer (you) and the Bank to purchase equipment for business use. During the hiring period, the Bank owns the equipment and you make regular instalments to the Bank.
Ownership of the equipment is transferred to the once the final payment is made. The interest component of the payments and the depreciation may be tax-deductible.
 
Key Features:
  • Repayment schedules are flexible.
  • An Offer to Hire can be arranged with no deposit or an amount that suits you.
  • Balloon payments at the end of the term can be arranged.
  • The interest component of the rental and depreciation on the equipment are tax deductible, provided it is used to produce assessable income or the expense is necessarily incurred in carrying on a business.
  • You can repay the contract before the term ends.
 
Chattel Mortgage or Equipment Loan
 
Often referred to as a Chattel Mortgage or Bill of Sale, this is a loan agreement where funds are borrowed to purchase equipment. The borrower provides security for the loan by way of a mortgage to the Bank over the equipment financed.
 
Key Features:
  • You hold the title to the goods.
  • 100% finance can be provided.
  • Repayment schedules are flexible and can be structured to suit you.
  • Balloon payments at the end of the term, similar to a lease residual value, can be arranged.
  • A Chattel Mortgage may provide tax benefits if the financed goods are used to produce assessable income.
  • The term of the Chattel Mortgage is flexible and can be negotiated, subject to Bank approval (maximum term 60 months).
 
Finance Lease
 
An arrangement for financing equipment where the Bank retains legal title during the lease period. The interest rate, rental amounts and residual value are fixed at the outset. Rentals may be tax deductible provided equipment is used for business purposes. Although there is no right to own the equipment within the agreement, at the expiry of the lease, the Bank may accept an offer from the lessee to purchase the equipment at the residual value.
 
Key Features:
  • Can obtain equipment without capital outlay.
  • Payments can be made on a monthly, quarterly, half yearly or irregular basis.
  • The terms of the lease are flexible, subject to the bank and ATO guidelines (maximum term 60 months).
  • The residual value of the leased goods is established in accordance with a schedule issued by the Commissioner of Taxation.
  • Lease rentals are usually tax-deductible, if the leased goods are used to produce assessable income.
 
Consumer Secured Loans
 
If you’d like to own and use your financed goods immediately, the Consumer Loan Secured is the best option for you. It can be used to finance the purchase of goods that are used 50% or more for personal purposes. Items such as motor vehicles, motor cycles, boats and caravans
 
Key Features:
  • You will own the financed goods from the outset, however, the goods are mortgaged to the bank as security.
  • A deposit may be required.
  • Extra repayments can be made at any time.
  • Balloon payments are available if you are asset-backed.
  • You can payout the secured loan prior to the end of the term.
  • If the goods are used for business purposes, you may be able to claim some depreciation and the interest component against your taxable income.
 
Novated Lease
 
A Novated Lease is an arrangement between the lessee, their employer and the Bank. Under this arrangement, the Bank owns the car and the employer makes the monthly lease payments to the Bank by deducting them from the employees' pre-tax salary.
The agreement and the credit risk moves with the employee.
 
Key Features:
  • The lease is taken out in your name, your employer signs a novation agreement taking on repayment responsibilities.
  • The vehicle can be purchased without capital outlay.
  • In the event you change companies the vehicle remains yours.
  • Your employer pays the lease rentals directly to the bank.
  • The employer can provide the employee with a car without having to reflect it on its balance sheet
  • You have complete choice what you buy and where from.
 
Have a query? Email: ef@noblefinancialservices.com.au or call us on 02 9629 2700
 
Purchasing a New Car? We can help you get the best deal
 
At Noble, we utilise the services of a car buying group called Private Fleet - where buying a car is cheap, convenient, quick and easy.
 
The Private Fleet team is the friendly link between you and your new car. Their rapid response times, helpful advice and simple-to-use system take the hassle out of buying a car for business or personal use.
If you know what car you want let us know and we can put you in touch with Private fleet. They will do the shopping for you to save you time and money. And the best thing is the car will be delivered direct to your door with a full tank of petrol – how good is that?
 
At Noble we aim to make the car buying process a convenient and easy experience for everyone involved and most importantly, save you money.  To find out more, contact us direct on 02 9629 2700 or email ef@noblefinancialservices.com.au.