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CAR FINANCE TYPE GUIDE

Hire Purchase:

Provides for the financing of the vehicle over a fixed term with a pre-agreed payment plan. When you pay off the loan in full, legal ownership is transferred to you.

Benefits:

  • You can finance 100% of the vehicle purchase price, or place a part deposit
  • You can purchase the vehicle at any time during the term of the agreement
  • Pre-agreed payments with a fixed interest rate provides certainty if rates increase
  • If you use the car for income producing purposes the interest component of the payment and the depreciation on the car may be tax deductible

Considerations:

  • The full cost of maintaining the vehicle is your responsibility.


Disclaimer: The above is a generic representation only. It does not constitute financial advice or mortgage structuring advice. It is only to be used as a guide only. Please discuss your financial needs with a financial planner, accountant or your banking representative.

No reliance should be placed on the above information.

CAR FINANCING OPTIONS

HIRE PURCHASE
FINANCE LEASE
OPERATING LEASE
NOVATED LEASE
CAR/CHATTEL LOAN
LINE OF CREDIT
BUSINESS FINANCING OPTIONS

OPERATING LEASE
FINANCE LEASE
COMMERCIAL HIRE PURCHASE
REVOLVING CREDIT FACILITY
CHATTEL MORTGAGE
SALE & LEASEBACK
LEASE VS BUY
DO I QUALIFY FOR A LEASE?
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