Business car, vehicle and equipment loans

A balloon payment is a lump sum repayment at the end of the loan term, after all regular monthly repayments have been made. When your loan has a balloon payment your monthly loan repayment will be lower, and you’ll pay more interest over the term of your loan. Alternatively, without a balloon repayment your repayments will be higher, you’ll pay less interest, and you will have no lump sum to pay at the end of the term.

You can collect the vehicle or equipment once all the signed documents are received, all outstanding requirements have been met and we’ve paid the supplier.

When you apply for a business loan, we’ll look at the financial performance of your business so we can work assess your ability to service a loan. Most businesses will need to supply financial statements for the last two years and a copy of their latest full tax portal report including business activity statements (BAS). If you’re a director or shareholder you may also be asked for information about your individual financial position, including recent tax returns and proof of income.

There are several different types of business financing options available to suit a range of scenarios. Some common financing options include a vehicle and equipment loan otherwise known as a chattel mortgage, as well as finance lease arrangements and hire purchase agreements.

Learn more about equipment financing for your business.