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+61 430 812 158
sumit@fundingfox.com.au
H1: VEHICLE & EQUIPMENT LOAN
Get the Best Vehicle and Equipment Loan Products with Funding Fox
We connect clients with top vehicle and equipment loan products at Funding Fox. With access to multiple lenders and different opportunities, we secure the best deals for your business needs.
H2: Vehicle Loans
A vehicle loan, also known as a goods loan or a chattel mortgage, allows your business to own a vehicle from the start without tying up capital. The vehicle typically serves as security, so no additional security is needed.
H3: Uses of Vehicle Loan
A vehicle loan is usually used to buy:
- Cars
- Utes
- Trucks
- Vans
- Buses
- Trailers
H3: Requirements for Vehicle Loan
- An ABN (Australian Business Number)
- GST registration
H2: Difference between Equipment/ Vehicle Loans, Lease and Hire Purchase
Equipment / Vehicle Loan | Lease | Hire Purchase | |
Ownership | Your business initially owns the vehicle or equipment. | The lender or bank owns the vehicle or equipment. | The lender or bank owns the vehicle or equipment until all payments are made. |
Payment | Both Principal and interest payments are made until the loan is paid off. A balloon payment may be required at the end. | Your business pays rent for a set period. | Your business makes regular installment payments. |
End of term | The vehicle or equipment serves as security. | Return the vehicle or equipment to the lender or make a final payment to keep it. | Ownership is transferred to your business after the final payment. |
We know that some businesses have the same financial situation. If your company doesn’t meet the strict requirements of most banks, we at Funding Fox can help you with low-doc equipment or vehicle loans.
Contact us today to see how we can help your business succeed.