Motor Vehicle Finance

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Motor Vehicle Finance

AT CFG we’ve been financing motor vehicles for individuals and businesses in excess of 20 years. This experience ensures that you’ll receive the most competitive Motor Vehicle finance, structured to meet your individual needs and maximise your allowable tax deductions, with the minimum of stress!

We’re able to access a number of different specialised Motor Vehicle finance lenders all of whom have different offerings. This allows us to guarantee you that we’ll save you time and money by placing your finance with the most suitable lender and in the process ensuring that your finance is structured correctly to best suit your situation – whether you are an individual or a business.

An incorrectly structured finance agreement could potentially cost you $‘000’s either in payouts or lost tax deductions.

We work hard at keeping abreast of legislation changes, product developments, lending policies and the interest rates being offered by the various lenders, which is why you can be confident that you’ll get a great deal.

We know all the tricks that the Car Dealers use to get you commit to their finance which is most often at rates higher than what they quote. Ensure you contact us before you sign anything to compare what we can do for you. We know you’ll be pleasantly surprised.

Types of Vehicles Available for Funding

Our panel of lenders are able to provide funding for the following:

Brand new vehicles
Second hand vehicles
Private Sales
Luxury Vehicles
Auction Sales
Older vehicles
Work vehicles
Work Trucks
Imported vehicles
Specialised vehicles

We can also assist you if you even if your credit history is currently not 100% perfect.

If you would like to know more about how we can assist you, and what products you may be able to use to fund your next vehicle purchase, click on the link that is most relevant to your situation below or call us now on 07 5555 5221 to discuss your situation.

Personal Vehicle Finance

Personal Motor vehicle finance has become more competitive over the years with the arrival of a number of specialised car financiers who have introduced new products at rates substantially better than what the banks are offering.

Thankfully, the days of having to either go to the bank for an expensive personal loan or place yourself at the mercy of the Car dealer and their ruthless finance departments are long gone!

No longer is there one type of loan to fit all, with a number of different financing options now available for you to consider. These options are listed below.

Personal Lease
Consumer Lease
Novated Lease
Secured Loan
Unsecured Loan

With motor vehicle finance being so competitive rates have fallen considerably in recent years. However, be careful not to fall into the trap of the 0% or low interest rates offer. Take a moment to read this article if you’re not sure why ( Be Wary of the Low Interest Car Finance Con )

Finance your next vehicle with a balloon, reduce your payments or purchase a better vehicle!

For years business owners have been able to finance their vehicles with a balloon payment in the contract and now consumers can do the same. A balloon payment allows you to reduce your monthly commitment but also ensure that at the end of the contract term they only owe what the vehicle should be worth.

For instance, a vehicle purchased for $40k and financed over 4 years with a 30% balloon payment due at the end of the term means that the owner will still owe $12k at the end of the contract. This amount can them be paid in full, refinanced or you can upgrade to a newer model and trade your car in (and the balloon will be paid out).

Personal Lease

May have to put a deposit down or may be 100% funded depending on your financial situation.
Repayments are usually fully tax deductible if the vehicle is being used for work in some way.
Repayments can be structured to suit you, the borrower, and maximise allowable tax deductions.
Motor vehicle owned by the lender and leased to you.
A residual payment is structured into the contract.
Upon completion of the contract you will have the following options:
- Purchase the vehicle for the Residual value;
- Re-finance the residual amount for an extended term; or
- Trade the vehicle, pay out the residual and retain the difference.

Personal Novated Lease

You can get to choose the vehicle and benefit from any equity in the vehicle.
Portable between employers allowing employment flexibility.
A three-way agreement – lender, employer, employee (you)
Tax effective as the employer makes payments from the employee’s pre-tax income (Salary sacrificing)

Secured Car Loan

The lender will take security of the car to guarantee the loan
A balloon can be added to these loans reducing the monthly repayments.

Unsecured Car Loan

This is an easier way to get finance as the approval is not so stringent but interest rates are higher
The motor vehicle is not taken as security

Business Motor Vehicle Finance

It is essential that Business Motor Vehicle Finance is structured to ensure the business maximises its tax allowances. For this reasons there are different types of finance available depending on the need of the business.

Once we know what your business requires in the area of motor vehicle finance we will be able to direct you to the type of finance most suited to your business.

Options include:

Finance Lease
Commercial Hire Purchase
Chattel Mortgage
Novated Lease
Fleet Lease

Below are details of these options but the best one for your business will depend on your individual situation so call us now on 07 5555 5221.

Finance Lease

No equity needed – 100% funded
Repayments are usually fully tax deductible
Repayments can be structured to suit you, the borrower, and maximise allowable tax deductions
Motor vehicle owned by the lender and leased to you
A residual payment is structured into the contract
Upon completion of the contract you will have the following options:
- Purchase the vehicle for the Residual value;
- Re-finance the residual amount for an extended term; or
- Trade the vehicle, pay out the residual and retain the difference

Commercial Hire Purchase

Equity can be used or 100% funded
Business tax deductions may be claimed on interest repayments and vehicle depreciation
You have ownership of the vehicle upon final payment

Chattel Mortgage

Interest and depreciation may be claimed
Vehicle is owned by you – the borrower
Get GST back upfront as GST is built into the purchase

Novated Lease

Employee can get to choose the vehicle and benefit from any equity in the vehicle
Portable between employers allowing employment flexibility
A three-way agreement – lender, employer, employee
Tax effective as the employer makes payments from the employee’s pre-tax income (Salary sacrificing)

Fleet Lease

Suitable for companies that have a fleet of vehicles
Maintenance of vehicles can be included in the lease
Can be a standard lease where the borrower is responsible for the residual or an operating lease where the lender in responsible for the residual