Car Loan Products

Commercial Hire Purchase

A Commercial Hire Purchase is a legal obligation between the finance provider and the hirer (the client) where the amount repayable is calculated on a fixed term and fixed rate with the option of a balloon payment. The Hire Purchase provides for the transfer of the property/product to the hirer at the end of the hire term.

The basic premise is that the full term must run otherwise penalties may be incurred. When you wish to own the asset from the outset, this type of purchasing finance is an alternative to leasing. A typical Commercial Hire Purchase structure has a term of 2-5 years (24 to 60 Months) with payments made monthly although other options are available.

You have a choice of a balloon payment depending on usage and depreciation of goods. With a Commercial Hire Purchase, the GST can be financed over the term or paid up front.


This facility is ideal when financing Motor Vehicles, Medical Equipment, Luxury Boats and Office Equipment.

Commercial Loan ~ Chattel Mortgage

A Commercial Loan Agreement is where a first registered Bill of Sale ~ Chattel Mortgage is granted by the borrower in favour of the lender. This facility is ideal for clients who operate their accounts on a cash basis and wish to claim the GST up front as input tax credit. Commercial Loan necessitates the transfer of ownership at the outset and is better viewed as a secured loan.


This facility can be structured similarly to a Commercial Hire Purchase facility. The term is usually 2-5 years (24 to 60 Months) and a balloon amount can be structured into the loan depending on usage and depreciation of goods.


This facility is ideal when financing motor vehicles.

Novated Lease

An employee leases a motor vehicle from the lender using a standard finance agreement. A Deed of Novation is then entered into between the employee, the employer and the lender, also known as a Tri-party Agreement under which the employee’s obligation to pay the lease rental under the finance lease is transferred to the employer for the term of the Deed of Novation. Therefore, the employer pays the lease rental to the lender. The amount of the lease payment will be deducted from the employee’s pre-tax salary as part of the employee’s salary package.

If the employee leaves the employers employment for whatever reason, the Deed of Novation terminates immediately and the employer no longer has an obligation to pay the lease rental. The obligation to pay the lease rental under the finance lease reverts to the employee. The employee retains use of the vehicle as lessee until the finance lease expires.


Upon ceasing employment with the employer, an employee has the following options in relation to the motor vehicle:


Continued standard lease payments to the lender, or

  • The employee may be able to transfer the novated lease to a new employer.
  • Once the Deed of Novation has been entered into, the employer is the lessee of the motor vehicle and provides it to the employee as a salary package benefit.
  • The novated motor vehicle lease gives the employee the flexibility and choice normally enjoyed by a vehicle lessee under a standard lease. The vehicle is registered and insured in the employee’s name and the employee will pay the running costs associated with the vehicle from their salary package on a tax-exempt basis.
  • Payment of the residual value is the responsibility of the employee.

More Details on a Novated Lease Loan >

Fleet Leasing

If a company wishes to purchase a fleet of motor vehicles, we can arrange a Master Lease Facility or a Fleet Management Package. This facility is ideal for the business or company who need to purchase a number of vehicles for their staff or operations. This is the most cost effective way to manage many vehicles and payments under one company or business finance umbrella.


Fleet Leasing is ideal for Government Departments, corporations and transport companies.

Sale & Hire Chattel ~ Lease Back

Using a Sale & Hire ~ Lease Back facility, (the lessee) the client can sell their existing vehicle or equipment to the Lender. The greater of the written down value or the market value of the equipment generally determine the sale price. The equipment is then hired or leased back to you over pre-agreed terms. Sale & Hire ~ Lease Back can provide you with valuable cash-flow enhancements and tax advantages.


This facility is generally available for equipment or vehicles that have been purchased within the past three months.

Let's get you Approved today, so start you driving sooner!

We will take care of your finance Novated Lease Application.

We can get your Application Whizzing, so you can get Zooming!

 We recommend customers should consult with their accountant for specific advice.


What Is The Personal Property Security Register (PPSR)?

PPSR came into effect on the 30 January 2012,  Personal Property Securities Register (PPSR). It covers the situation where a lender takes a security interest in personal property as security for a loan and registers that security interest over the asset.

The lender will hold a security interest over the asset while loan term is being paid off. if you default on the loan facility a lender may repossess the asset to recover the outstanding debt.

When you are purchasing any type of personal property or commercial assets it would be an idea to search the PPSR registry. If a lender has a registered security interest over an asset, the lender has the first interest for the asset and may request payment in full.


Who Managers The PPSR Register?



These former registers are now part of the PPSR:

  • The Register of Encumbered Vehicles (REVS)—security interests on vehicles and boats
  • The Bills of Sale Register—security interests on all other forms of personal property
  • The Register of Cooperative Charges—security interests on plant and equipment owned by cooperatives

A security interest that was recorded on any of these 3 registers is now recorded on the PPSR.

Visit the PPSR website to do a search of the register.


Can I Do a Check Via a Rego Number?

If you don’t have the Vin number you may be able to check the vehicle details via the Rego number.

Vehicle Registration Number (Rego) ~ A government site for checking a Rego, in all states and territories.

Serial Number Chech ~ A government site to check a serial nunber.