Fast finance for commercial vechicles

Oak Laurel | Finance brokers 

Business owners / self-employed people, do you want to get finance approved for commercial vehicles FAST? We can help.


Get fast finance approval for a wide range of commercial vehicle types! Competitive interest rates and fees, no hassles!

Plant and equipment finance broker

Construction vehicle finance. Excavators, front-end loaders, bobcats, backhoes, graders, scrapers, bulldozers

Comercial loan - plant and equipment finance

Farm vehicle finance. Tractors, Headers, Harvesters.

commercial motor vehicle finance

Car Finance and light vehicle Finance.

Forklifts & tele-handlers

Forklift  finance & telehandler finance.


self-employed vehicle finance

Self-employed vehicle finance

The typical rate is 5.91%. This is based on straightforward vehicle financed over 60 months.  The max interest rate is 6.33%. A $350 application fee is charged that is added to loan.

Example 1. for $40,000 hire purchase (no balloon) over 60 months the payments would be $780 per calendar month.

Example 2. for $40,000 hire purchase (with a 20% balloon – $13,637) over 60 months the payments would be $591 per calendar month.

Note: Rates & examples are for 29 July 2015 and are subject to change.

Any of the following commercial vehicles, construction vehicles, and garm vehicles can be financed if they are up to 4 years old (unless otherwise stated):

  • Cars
  • Light commercial vehicles (under 3.5T GVM)
  • Forklifts
  • Telehandlers
  • Backhoes
  • Tractors (age up to 7 years)
  • Headers (age up to 7 years)
  • Harvesters (age up to 7 years)
  • Excavators
  • Front-end loaders
  • Bobcats
  • Graders
  • Scrapers
  • Bulldozers

You can finance up to $150,000 if the eligible asset (listed above) is from a licenced dealer and up to 4 years old (up to 7 years old for Tractors/Headers/Harvesters).

You must meet the following criteria:

  • Have an ABN that has been registered for more than 2 years and be registered for GST;
  • No negative equity on trade ins (negative equity is if the trade in vehicle is worth less than the finance owing on it – ie costs more to take the vehicle back);
  • Satisfactory credit check ( no bankruptcy, defaults, unpaid debts of the like);
  • You are a home owner
  • Balloon payment acceptable to ATO guidelines (where appropriate);

The Australian Tax Office (ATO) imposes a set of minimum acceptable Balloon Payment (Residual Value) guidelines which must be followed for all leases (including Finance Lease, Novated Lease, Personal Lease and Fully Maintained Novated Lease).

Table 1: ATO minimum residual guidelines for leases

Table 1: ATO minimum residual guidelines for leases
Lease contract term Minimum Balloon Payment (Residual Value)
12 months 65.63%
24 months 56.25%
36 months 46.88%
48 months 37.50%
60 months 28.13%

The maximum Balloon Payment (Residual Value) available for a lease varies depending upon a range of factors including the age of the vehicle, the term of the lease, the specific type of lease used, the borrower’s financial profile and more.

Note: this is only a general guide and not financial or tax advice. You may want to contact your accountant or tax professional.

  • No financials are needed if the above eligibility OK.
  • Online privacy constant signed.
  • Dealer invoice = immediate decision.

 

  • You will need to sign the loan documents and affordability declaration.
  • You will need to provide your home/property rates notice.
  • You will need to confirm comprehensive insurance noting the lender as an interested party.
  •  Once approved settlement can be within 2 hours.

Commercial vehicle loan

Fast and easy loan approval process!

Are you business owner / self employed and need commercial vehicle finance?

Apply online now!

OAK LAUREL

Oak Laurel Mortgage Broker

Benefit from our experience



Enter your details below to see if you are eligible for commercial vehicle finance

Fields marked with an * are required

By clicking send you agree to the terms of use of this website.



Self-employed home loans

Are you self employed and need a home loan? Make sure that you are getting the right home loan for you, not just what is the easiest for the bank sales staff. Find out more:



Oak Laurel Finance Brokers – Loans made easy!

Oak Laurel Mortgage Broker