|
|
|
|
|
|
Essentials |
|
Buying Tips..
Test Drive Check List.
More
|
|
|
|
| HOT |
|
| Quick Links | |
 |
About Us |
|
|
Articles |
|
|
Hints & Tips Selling or Buying |
| HOT | The Test Drive Check List |
|
|
More Information |
|
|
Apply For Finance |
|
|||
|
|
[ Consumer Mortgage ] [ Chattel Mortgage ] [ Finance Lease ] [ Novated Lease ] [ Hire Purchase ] Types of Finance Correct finance packaging is vital for you to get the most out of what is available…… The vast majority of people lead busy lives and rely on professionals to simplify the process of obtaining finance in an “ever changing” and complex finance environment. In recent times the major banks and financial institutions in Australia have been closing branches at an ever increasing rate. This lack of loyalty means that many people seeking finance feel very comfortable in using alternative providers that offer personalised service. Many of the banks now rely on car yards and boutique financiers to supply the majority of their retail automotive finance. As a result rates have become extremely competitive as they all continue to fight for market share. You stand to benefit in ways never previously experienced. An extremely high percentage of people seeking finance now have no hesitation in utilising the expanded services provided by referral sources such as Used Car Finance and its team of over 200 professional associates Real savings and benefits are being experienced as the types and styles of finance available continue to increase. Tailored flexible packages are quickly replacing old, rigid and restrictive agreements. Today’s finance savvy market has seen the emergence of five common finance agreements. These outlines are by no means exhaustive. However, they will give you a guide as to what may suit your requirements. By lodging your online enquiry now one of our specialist associates will be able to tailor a package just right for you. The time savings are substantial and you get to avoid the nervous wait for approval at the bank or dealership. It is all done from the security of your own home. No more cap in hand, no more begging, no more anxious waiting to see if the car you have fallen in love with will actually be yours.As a consequence, you can venture out to find your new used car you are armed with the knowledge that your finance is pre approved. This in turn gives you real bargaining power as the seller is made aware that you have the funds available right now! A no less important advantage to you the used car buyer is that with a set budget you are less likely to make an emotive decision that could cost you thousands of dollars and years of heart ache due to being extended beyond your means. Remember these are short overviews of the 5 most common types of automotive finance today they will allow you to see which product will most suit your situation. The information here will no doubt open your eyes to some recent changes within the finance industry and our specialist associates will help you decide on which package is just right for you and your circumstances. Apply Now! The Consumer Mortgage product is designed primarily for wage and salary earners and applies to goods/usage for personal use. The facility allows for the financing of such items as: Motor vehicles Motorcycles Boats and jetskis Caravans The financier has security over the goods being financed. The title or ownership of the goods remains with the customer. The maximum loan term is 5 years, however payments can be reduced by way of a balloon payment at the end of the 5 year term. Payments can be made monthly or fortnightly by B-pay, direct debit or coupon book. No deposit is required for approved purchasers. Both of these agreements are suited to the Self employed purchaser. If you are self employed chances are you have already taken advantage of the taxation benefits afforded with these types of finance. Remember these are only overviews of what is available. Your finance professional will be able to answer your specific questions and demonstrate advantages you can expect to experience. The Chattel Mortgage is primarily for self-employed clients or clients that will use the item/goods predominantly for business use. Examples of goods financed under the Chattel Mortgage facility are: Motor vehicles Trucks Earthmoving equipment Office equipment Machinery Security over the goods being financed is held by the financier The customer retains title or ownership of the goods. The maximum loan term is 5 years, with the option of balloon payments at the end of the agreement period to reduce monthly payments. No deposit is required for approved purchasers. The use of the Chattel Mortgage facility for self-employed clients or clients that will use the items/goods predominantly for business use can free up working capital and other facilities; ie, overdrafts and equity in property, for other uses. This facility is designed for self-employed clients or clients that will use the item/goods predominantly for business use. The title or ownership of the goods remains with the financier until the agreement has been paid in full. An example of goods financed under the Lease facility are as follows: Motor vehicles Trucks Earthmoving equipment Office equipment Machinery The financier has security over the goods being leased. The maximum lease term is 5 years. A Lease agreement must have a residual value to be paid at the end of the lease term. The residual value must represent the estimated value of the goods at the end of the lease. A deposit is not allowed on Lease Agreements, however the first lease rental can be up to 25% of the purchase price, therefore resulting in lower rentals for the remainder of the Lease. The use of the Lease facility for self-employed clients or clients that will use the item/goods predominantly for business use can free up working capital and other facilities; ie, overdrafts and equity in property, for other uses. Novated leases are becoming a popular way of leasing for salary packaging. The repayments are paid pre-tax so it reduces your taxable income. A novated lease is the same as a standard Lease, yet your employer makes the repayments. If you resign or you are made redundant, your employer simply returns the obligation to yourself. At the end of the period it is the client’s choice to settle the residual. This facility is designed for self-employed clients or clients that will use the item/goods predominantly for business use. The title or ownership of the goods remains with the financier until the contract has been paid in full. An example of goods financed under the Hire Purchase facility are as follows: Motor vehicles Trucks Earthmoving equipment Office equipment Machinery The financier has security over the goods being financed. The maximum loan term is 5 years, however payments can be reduced by way of a balloon payment at the end of the 5 year term. No deposit is required for approved purchasers. The use of the Hire Purchase facility for self-employed clients or clients that will use the item/goods predominantly for business use can free up working capital and other facilities; ie, overdrafts and equity in property, for other uses. [ Consumer Mortgage ] [ Chattel Mortgage ] [ Finance Lease ] [ Novated Lease ] [ Hire Purchase ]
|
||
 |
© Used Car Finance 2005. All Rights Reserved. Terms of Use |
