| Hire
Purchase - Offer to Hire |
| Purpose |
- Available for companies and business professionals to
buy business goods such as motor vehicles, trucks,
industrial plants, professional or earthmoving equipment.
|
| How it works |
- The hire purchase agreement is a contract where the
financier (the "owner") gives the "hirer" possession and use
of an item of equipment in return for regular payments.
When the final payment is made, the "hirer" owns the
goods.
|
| Product Benefits |
| Tax deductible |
- Depreciation on the equipment and the interest component
of the rental are tax deductible if it is used to produce
assessable income or the expense is necessarily incurred in
carrying on a business. Speak to your accountant for further
information about tax benefits.
|
| No deposit |
- An offer to hire can be arranged with no deposit or an
amount that suits you.
|
| Free up other
valuable assets |
- The equipment being purchased is normally sufficient
security for the finance – your other business assets are
not required as security.
|
| Match your cash
flow |
- Tailor the repayments to suit seasonal cash flow. You
can also arrange to make a balloon payment at the end of the
loan to reduce repayments throughout the term.
|
| Early
repayment |
- You have the flexibility to repay the contract in full
before the term ends
|
| Interest rates |
- The repayments are fixed throughout the life of the
loan.
|
| Product Features |
| Term |
|
| Loan amount |
|
| Repayment
frequency |
- Monthly, quarterly, semi-annually, annually, seasonally
or irregularly.
|
| Repayment methods |
- Direct debit and periodical payment from a nominated
bank account, BPAY® and cash/cheque deposits via a cash
booklet.
|
