For many small- to medium-sized businesses, having a reliable company vehicle is crucial to their growth. SMEs need to make deliveries, pick up materials from suppliers and make sales visits to customers. Purchasing a business vehicle can be costly, and more often than not, newly established businesses do not have the budget to buy a car outright. That’s where financing comes into play.
Why a business car loan makes good business sense:
- Competitive commercial car finance industry
The car finance industry has a number of solutions available to offer business owners attractive deals, with features that can save them money. You can choose between leasing a car or buying one on a hire purchase basis, where you take legal ownership once you’ve paid the loan amount in full. A broker can help compare finance options and interest rates, presenting you with a list of the best options from which to choose.
- Personalised loan agreements
Some money lenders are happy to negotiate the terms and conditions of commercial car finance agreements that can work in a business’s favour. An example of this would be the balloon payment facility that is designed to allow for lower monthly repayments.
- Keep a positive cash flow
With loan options allowing the purchase of a business vehicle, a business owner can preserve their existing cash flow.
If you have a business that is registered with the Australian Tax Office for GST, you are eligible to claim GST that is paid on the price of the vehicle as an input tax credit.
Are you in the market for a new vehicle for your organisation? Why not let Simply Finance help you find the best business car loan? We will do all the legwork on your behalf and save you time and money. We will compare the different business loan products available and match them to your individual needs and goals. Contact Simply Finance online or call us on 1300 115 263 today.