Frequently Asked Questions

Common questions about asset finance

1. What is asset finance?

Asset finance is a type of loan that helps you purchase business or personal assets, such as vehicles, machinery, equipment, or technology, where the asset itself is usually used as security for the loan.

2. What assets can I finance?

We can help you finance a wide range of assets, including:

  • Cars, vans, and trucks
  • Commercial and construction vehicles
  • Machinery and manufacturing equipment
  • Medical and IT equipment
  • Agricultural machinery

3. How does asset finance work?

You can borrow the money to buy the asset, then repay it in regular installments. Depending on the product, you may own the asset immediately or at the end of the loan term.

4. What types of asset finance are available?

We offer several flexible options, including:

  • Chattel Mortgage – Own the asset from day one
  • Hire Purchase – Pay off the asset over time and gain ownership at the end
  • Finance Lease – Use the asset without owning it during the term
  • Operating Lease – Lease the asset for a set period

5. Do I need a deposit?

Deposits vary depending on the lender, your credit profile, and the type of asset. Some loans allow 100% finance, while others require a deposit between 5% and 30%.

6. How long are the loan terms?

Loan terms typically range from 1 to 7 years, with the term generally matching the useful life of the asset.

7. Can I finance new and used assets?

Yes! We can finance both new and used assets, subject to age and condition requirements set by the lender.

8. Are there tax benefits?

Many asset finance products offer tax advantages, including:

  • Claiming interest as a tax deduction
  • Depreciating the asset for business purposes
  • Claiming GST credits (for eligible businesses)
  • Professional Advice: We recommend speaking with your accountant for advice specific to your situation.

9. Do I need insurance?

Yes, most lenders require comprehensive insurance on the asset for the duration of the loan, with the lender noted as an interested party.

10. How quickly can I get approved?

Approval times vary:

  • Pre-approval: same day to 48 hours
  • Full approval: 1–5 business days
  • Settlement: 1–3 days after approval
  • Express Option: Some vehicle finance loans can be approved within hours.

11. Why use a broker for asset finance?

A broker helps you:

  • Compare multiple lenders and products
  • Find the most suitable loan for your needs
  • Negotiate better rates and terms
  • Save time and handle paperwork