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Car Leasing and
Equipment Leasing
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Smart Search finance offers a whole range of
leasing options for business owners with
Australian
Business Numbers (ABN). Even car owners who
use their car for predominately business
purposes
are able to lease their vehicle.
Also ask about our lo
doc leasing
Below you
will find information on the assets that can
be leased and the types of leasing options
available to suit each.
List 0f Assets
We Finance
▪
Passenger car leasing for business use
▪
Light
and heavy commercial vehicles
▪
Earthmoving and construction equipment
▪
Printing process and graphic technology
▪
Computers and office equipment
▪
Medical and dental equipment
▪
Agricultural equipment and machinery
▪
Mining
vehicles and equipment for above ground use
only.
What you require
▪
Businesses with an
Australian Business Number (ABN) for a
minimum of 2 years
▪
Car owners who use
their vehicles a minimum of 51% for business
purposes
▪
Two years financial
statements
Commercial Hire Purchase
▪
Mainly used for
vehicle and equipment finance
▪
Loan term of 12-60
months
▪
You own the vehicle or
equipment once all payments are made
▪
The GST inclusive
amount is financed
▪
Deposits or trade-ins
can be used to reduce the loan amount
▪
Balloon payments can
be factored in to reduce monthly repayments
▪
Interest rate is fixed
for the loan term
▪
For asset depreciation
and interest deductibility purposes, the
asset is effectively 'owned' by
the client even though the title does not pass
until loan maturity
▪
Suitable for
applicants on a accrual accounting basis for
GST. Cash accounting applicants
must claim the GST component back proportionately
across the loan term.* Therefore,
consider
a chattel mortgage
*Independent
professional financial advice must be sought
to determine all tax and GST issues
For more information
about car leasing or equipment finance
contact us
or make an
online
enquiry
Chattel Mortgage
▪
The asset must be
owned by the client at settlement
▪
Loan term of 12-60
months
▪
The GST inclusive
amount is financed
▪
Deposits or trade-ins
can be used to reduce the loan amount
▪
Balloon payments can
be factored in to reduce monthly repayments
▪
Interest rate is fixed
for the loan term
▪
For asset depreciation
and interest deductibility purposes, the
asset is effectively 'owned' by
the client
▪
Suitable for
applicants on either an accrual or a cash
accounting basis for GST can claim the
full GST
component when lodging the next BAS*
*Independent
professional financial advice must be sought
to determine all tax and GST issues
For more information
about car leasing or equipment finance
contact us
or make an
online
enquiry
Novated Lease
▪
Enables employees to
salary package their cars which can result
in tax benefits.*
▪
Novated lease is a
three-way agreement between an employee (you
the applicant), their
employer and the leasing company
▪
When you cease
employment, the lease may be renovated to
another employer, or you can
simply begin by making repayments directly
▪
The exact benefits
must be calculated independently by a
qualified financial adviser taking
into
your consideration, your salary and overall
tax position, car value, kilometres to be
driven, FBT and
tax rates
*Independent
professional financial advice must be sought
to determine all tax and GST issues
For more information
about car leasing or equipment finance
contact us
or make an
online
enquiry
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