Vehicle Finance

Vehicle finance enables business owners to finance vehicles used primarily for business purposes, such as cars, vans, and trucks.

The vehicle serves as collateral, interest rates are lower than other unsecured funding options.

Interest rates on business car loans are influenced by several factors, including the age of the vehicle, the financial stability of the business, and the borrower’s credit score.

Newer vehicles and homeowners generally receive lower rates due to the reduced risk for lenders.

Startups or businesses with less stable financial histories may face higher rates, but funding is definitely still possible.

In addition to securing a vehicle, these loans offer potential tax benefits.

Businesses may be able to claim GST credits and tax deductions for the interest paid and other expenses related to the vehicle's business use.

‍

‍

‍