Asset Finance FAQs
1What is asset finance?
Asset finance is a type of loan that helps you purchase business-related assets such as vehicles, trucks, machinery, or equipment. Instead of paying upfront, you can spread the cost over time with flexible repayment options.
2What types of assets can I finance?
You can finance a wide range of assets, including:
- Cars, vans, and utes
- Trucks and trailers
- Construction and earthmoving equipment
- Agricultural and farming machinery
- Office, IT, and medical equipment
- Leisure and marine assets (boats, caravans, motorhomes)
3Do I need to provide security for the loan?
In most cases, the asset you purchase is used as security for the loan. This often means you don’t need to offer additional property or collateral.
4Can start-ups or new businesses apply?
Yes, even start-ups can access asset finance. If your business is new or doesn’t have a long financial history, low-doc finance options may be available.
5What’s the difference between a chattel mortgage, lease, and hire purchase?
- Chattel Mortgage – You own the asset from day one, with potential tax benefits.
- Finance Lease – You lease the asset and return, upgrade, or buy it at the end of the term.
- Hire Purchase – You pay in instalments and own the asset once the final payment is made.
6 Can I finance new and used assets?
Yes, finance is available for both new and second-hand assets, whether purchased through a dealer or private sale.
7How quickly can I get approved?
Approvals can often be completed in 24–48 hours, depending on the type of loan and documents provided.
8Are there tax benefits with asset finance?
Yes, depending on the loan type and your business structure, repayments or depreciation may be tax-deductible. We recommend speaking with your accountant to understand what benefits apply to you.
9Can I pay out my loan early?
Yes, most lenders allow early payouts, although some may charge small fees. This can reduce your overall interest costs.
10What if I have bad credit?
Even if you have a less-than-perfect credit history, we may still be able to help. There are specialist lenders who consider your circumstances and business potential.
Car Loan FAQs
1Can I get a car loan for a used vehicle?
Yes, we finance both new and used cars, whether purchased from a dealer or private seller.
2 What’s the difference between a secured and unsecured car loan?
- Secured Loan – The car is used as security, usually giving you a lower interest rate.
- Unsecured Loan – No security is required, offering more flexibility but at slightly higher rates.
3Can I get a car loan if I’m self-employed?
Yes, we offer low-doc car loans for self-employed applicants who may not have traditional financial documents.
4 How long does approval take?
In most cases, you can be approved in 24–48 hours, provided all documents are ready.
5Do car loans cover luxury or electric vehicles?
Yes, we have finance options for prestige, luxury, hybrid, and electric vehicles.
Truck Loan FAQs
1What types of trucks can I finance?
We finance prime movers, trailers, tipper trucks, utes, and specialised commercial vehicles.
2Can start-up owner-operators apply for truck finance?
Yes. Even if you’re new to the industry, we offer options such as low-doc truck loans.
3 Do you finance trucks bought privately?
Yes, we can fund both dealership and private sales.
4Are there tax benefits with truck finance?
Yes, many businesses can claim GST, interest, and depreciation. It’s best to confirm with your accountant.
5How long can I finance a truck for?
Loan terms typically range from 1 to 7 years, depending on your needs and the lender.
Machinery & Equipment Loan FAQs
1What types of equipment can be financed?
We cover construction, earthmoving, farming, medical, manufacturing, and office equipment.
2Can I finance second-hand machinery?
Yes, both new and used equipment can be financed.
3Do I need financials for machinery loans?
Not always – low-doc finance options are available for self-employed or smaller operators.
4Can I upgrade or add equipment during my loan term?
Yes, many businesses choose to refinance or add-on finance to upgrade equipment as they grow.
5Is leasing better than buying equipment?
- Lease – Lower upfront costs, with the option to upgrade at the end of the term.
- Chattel Mortgage / Hire Purchase – Own the asset and claim depreciation and tax benefits.
Balloon Refinance FAQs
1What is balloon refinance?
Balloon refinance lets you spread out your final lump-sum payment (balloon payment) into manageable repayments over a new loan term.
2Do I have to refinance my balloon payment?
No, you can pay it in full if you prefer. Refinancing just gives you more flexibility if you don’t want to use savings or cash reserves.
3What types of loans can have balloon refinance?
Car loans, truck loans, machinery finance, and business vehicle loans can all include balloon payments that can be refinanced.
4 Can I refinance my balloon if I have bad credit?
Yes, some lenders specialise in helping applicants with less-than-perfect credit.
5How long can I refinance the balloon for?
Typically, terms range from 1 to 5 years, depending on the lender and asset type.
Extended Car Warranty FAQs
1What is an extended car warranty?
It’s an additional warranty that covers your vehicle for mechanical and electrical repairs after the manufacturer’s warranty ends.
2Does an extended warranty cover servicing?
Servicing and maintenance aren’t usually covered, but repairs to covered parts and components are included.
3Can I get a warranty on a used car?
Yes, extended warranties are available for both new and used cars.
4Is the warranty transferable if I sell my car?
In most cases, yes. This can also boost the resale value of your vehicle.
5Does an extended warranty cover all repairs?
Coverage varies depending on the plan. We’ll help you choose the right level of protection for your car.
Business Cash Flow FAQs
1What is a business cash flow loan?
It’s short-term finance that gives you quick access to working capital to cover expenses, smooth cash flow, or invest in growth.
2 How fast can I get the funds?
Many cash flow loans can be approved and funded within 24–48 hours.
3Do I need to provide security?
Often, no. Many lenders provide unsecured cash flow loans, meaning no property or assets are required as collateral.
4Can start-ups apply for cash flow finance?
Yes. Even new businesses can access funding, although terms may vary depending on your trading history.
5What can I use the funds for?
You can use it for wages, supplier costs, stock purchases, marketing, repairs, or business expansion.
Leisure & Marine Finance FAQs
1 What types of leisure and marine assets can I finance?
We finance boats, jet skis, caravans, camper trailers, motorhomes, and marine equipment.
2Can I finance a used boat or caravan?
Yes, we can arrange finance for new and pre-owned leisure assets from dealers or private sellers.
3Do I need a deposit?
Not always – some lenders offer 100% finance, depending on your application.
4Are secured and unsecured loans available?
Yes. A secured loan usually offers lower rates, while an unsecured loan provides more flexibility.
5How long can I finance leisure and marine assets for?
Terms typically range from 1 to 7 years, depending on the asset and lender.