Business Finance & Loans


Companies, Partnerships and Sole Traders who are applying for a business car loan can choose from several types of finance to suit their specific needs.

Factors that need to be considered in obtaining an asset for their business are the type of industry, individuality of the business structure and size. Also important is Tax and GST considerations

SAVE ON FINANCE specialise in business car finance and loans, providing assistance to the sole trader, small to large companies in arranging car loans in a quick and efficient process.

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 business loans

Chattel Mortgage – the financier advances funds to the customer to purchase a vehicle where the customer takes ownership at the time of purchase. The lender takes a “mortgage” over the vehicle as security for the loan. The vehicle needs to be used for 50% business use.

Low Doc’ Loans – self-employed and unable to meet the financial documentation requirements necessary to secure a loan. Generally Lenders require two years of personal or business tax returns for your loan application. Where this is not possible, a flexible low document loan can be considered.

Commercial Hire purchase (CHP) – or corporate Hire Purchase is a commercial finance product where the customer hires the vehicle from the financier for a fixed monthly repayment over a set period of time.

Novated Lease – is a method of salary packaging a car purchase where the employees make monthly lease payments from the employee’s pre-tax income (“salary sacrificing” this income). The employee actually purchases the vehicle. This type of leasing is more for a business wanting to provide business car finance choices to their employees.