Question 1

What is business car finance?

Accepted Answer

Business car finance allows companies of all sizes to purchase the vehicles they need without sacrificing large amounts of working capital upfront. Our commercial credit facilities allow you to borrow funds from specialist lenders and repay the loan via fixed monthly repayments.

Question 2

What types of business car loans can I choose from?

Accepted Answer

Business owners and operators can select from the entire range of commercial credit facilities with Easy Car Finance. The best suited facility is dependent on the business set up and structure. Choose from Chattel Mortgage, Rent-to-Own, Commercial Hire Purchase and Business Leasing. Consult with an accountant to determine the best option with the most tax, ownership and cash flow benefits for your circumstances.

Question 3

Can I claim tax benefits with a business vehicle loan?

Accepted Answer

Yes. A range of tax benefits are available based on the commercial credit facility selected. Deductions on interest, depreciation and running costs may be available. Chattel Mortgage and CHP facilities may also provide GST credit claims.

Question 4

Do I need to provide financial documentation for loan approval?

Accepted Answer

A range of financial records are typically required for business loan approval. However, we can arrange low doc and no doc car loans for small businesses, start-ups and sole traders who do not have extensive documentation available.

Question 5

Can I get pre-approved for a business car loan?

Accepted Answer

Yes. We provide preapproval for borrowers wanting more transparency on their borrowing capacity. Preapproval also enables borrowers to purchase quickly when the right vehicle becomes available.

Question 6

What vehicles can I finance with commercial funding?

Accepted Answer

Our business car loans are available for the purchase of any vehicle intended for business purposes. Select from passenger vehicles, utes, SUVs, specialised vehicles and more. Whether you require one car or an entire fleet, we offer the complete range of commercial funding facilities, enabling you to acquire the right new, used or privately purchased vehicle for you.

Question 7

How long are business car loan terms?

Accepted Answer

Loan terms for business car finance range from 1 to 7 years and are subject to lender approval. Shorter loan terms allow borrowers to own their vehicle faster, but possess higher monthly repayment amounts. Longer terms reduce the monthly repayment amount, but will involve more interest paid over the life of the loan.

Question 8

I’m a start-up. Can I apply for a commercial car loan?

Accepted Answer

Yes. We work with start-ups and new businesses by offering low doc and no doc commercial credit facilities. If your business lacks extensive financial records, our brokers can connect you with specialist lenders who are able to assess applications based on alternative information and business performance.

Question 9

Why should I use a broker for my commercial vehicle loan?

Accepted Answer

By engaging our expert Easy Car Finance brokers, you’ll save time and money. We compare commercial loan products on your behalf via our extensive network of 80+ banks and lenders. Our ability to scan the market and locate the most competitive deal available is invaluable, with all negotiations, paperwork and customisation handled in-house.

Question 10

How do I apply for a business car loan through Easy?

Accepted Answer

Applying for a business car loan is straightforward with Easy Car Finance. Connect with us online or by phone and one of our dedicated brokers will guide you through the entire process. Allow us to gather some key details about your operation to assist us in locating the right financier from our extensive lender base.

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