Central Coast Financial Services can provide finance for:
- Boats
- Cranes and Forklifts
- Tractors, Harvestors, Irrigation Equipment
- Prime Movers, Trailers, Coaches
- Dental Equipment
- Medical Equipment
- Mining Equipment
- Office Fitout Finance
- Earthmoving Equipment
When considering finance for plant/equipment the following options are available. We do recommend that you consult your accountant about which option suits your business/personal interests the best.
HIRE PURCHASE
Available for companies and business professionals to buy business goods such as industrial plant and professional equipment. A hire purchase arrangement is an agreement to purchase plant/equipment subject to payment terms. During the term of the agreement, the financier owns the plant/equipment. Ownership is automatically transferred to you when you make the final payment.
Business Benefits:
- You own the plant/equipment when the final repayment is made
- You can purchase the plant/equipment at any time during the terms of the agreement
- There is no need for a deposit
- Flexible repayment arrangements maximise cash flow
- The interest component of the repayments and the depreciation on the plant/equipment may be claimed as tax deductions, provided the plant/equipment is used to generate assessable income
- You can also arrange to make a balloon payment at the end of the facility to reduce repayments throughout the term
- The repayments are fixed throughout the term of the facility
Download application for hire purchase here, or phone us today on (02) 4365 5899.
CHATTEL MORTGAGE (or Bill of Sale)
Available for companies and business professionals to buy business goods such as industrial plant and professional equipment which is for business use more than 50% of the time. It is a loan agreement where you borrow funds to acquire an asset. You provide security for the loan by way of a mortgage to the Bank over the asset financed.
Business Benefits:
- You are generally not required to provide a deposit
- Repayments may be tailored to suit your cashflow
- You don't pay GST on the loan or the repayments
- You retain ownership of the asset throughout the term of the loan
- The interest component of the payments and the depreciation on the asset may be tax deductible, provided you use the plant/equipment to generate assessable income.
- If you are registered for GST, you can claim the GST portion of the plant/equipment price on your next BAS
- You can arrange to make a balloon payment at the end of the loan to reduce payments throughout the term
Download application for chattel mortgage here, or phone us today on (02) 4365 5899.
LEASE
Financier purchases the plant/equipment you require and then leases the goods to you. You then enjoy the use of the plant/equipment for an agreed time in return for rental payments.
Business Benefits:
- Preserve your working capital with 100% financing
- If you use the asset to generate income, rental payments may be tax deductible
- You may be entitled to claim an input tax credit for rental and other charges that are subject to GST
- The rentals are fixed throughout the term of the lease
Download application for lease here, or phone us today on (02) 4365 5899.
