Asset finance
Asset finance, for ABN holders and business owners.
Finsap arranges asset finance for ABN holders, tradies and business owners, including vehicles, equipment and machinery. Danny Saputra compares options from asset finance lenders, explains the differences between finance types in plain language, and leaves the tax and GST questions to your accountant.
Credit is subject to lender criteria, assessment and approval. Fees, charges and eligibility criteria may apply.
Assets
What can you finance?
Asset finance can be used for most business assets, including:
- utes, vans, trucks and cars used in the business
- trade and construction equipment
- machinery and plant
- technology and office equipment
Lenders look at the asset, how long your ABN has been registered, your business income and your credit history. Some lenders accept less documentation for established businesses buying common assets.
Options
Which type of asset finance suits you?
The main options are a chattel mortgage, a finance lease and a commercial hire purchase. They differ in who owns the asset during the term, how GST is handled, and how repayments and depreciation are treated for tax. A balloon payment at the end can lower regular repayments, but it leaves a lump sum to pay or refinance.
Danny explains how each option works. Your accountant should confirm which suits your tax position before you decide.
Tradies
Can tradies and new ABN holders get finance?
Yes, though the options depend on how long your ABN has been registered and your history in the trade. Some lenders work with newer ABNs, especially where you have prior experience in the same industry or a deposit. Danny checks which lenders suit your situation before an application is made, so you are not applying blindly.
The bigger picture
How does asset finance fit with your property loans?
Asset finance appears on your credit file and counts as a commitment when lenders assess future borrowing. If you are also planning a property purchase, the timing and size of a vehicle or equipment loan can affect how much you can borrow. Danny looks at both together, so one does not limit the other.
Questions
Common questions
Do I need a deposit for asset finance?
Not always. Some lenders finance the full cost of the asset for established businesses, while others ask for a deposit or trade-in. It depends on the asset, the lender and your situation.
Can I include a balloon payment?
Usually, yes. A balloon lowers your regular repayments but leaves a lump sum at the end of the term, so it needs to fit your cash flow plans.
Are there fees for asset finance?
We will explain any fees before you proceed. We may receive commission from the lender if your finance settles, and lender fees and charges may apply.
Related
Where to next
Self-Employed Borrowers
Lending for self-employed and ABN borrowers, including company and trust income.
Investment Lending
Loan structuring for property investors building a portfolio, including company and trust borrowing.
Our Approach
The Structure First method, how Finsap is paid, and when we say no.
General information only, not personal advice.
Speak to Danny
You deal with Danny Saputra directly.
- Call
- Book a Strategy Call with Danny