So you need to replace some equipment or are looking to upgrade the company car? This means business finance! For most, the sheer range of lenders and products available appears absolutely overwhelming. Luckily we are here to take the pain away from the process.
Business Assets Defined
Take any annual report. Hop over to the balance sheet and then to ‘Items of ownership’. There you have it: the business assets. Cars, trucks and excavators, medical equipment, computers, office furniture and other fixtures, even real estate… basically anything bought exclusively, or at least primarily, for business use.
Different Asset Finance Options
There is an array of different asset finance options to choose from, all designed to save you tax and structure your assets according to your accounting:
- Commercial Hire Purchases: hire and use the asset until the last payment.
- Financial Leases: financier owns the asset, you bear the risk of disposal at the end of the lease.
- Chattel Mortgages: own the asset from the outset, the loan agreement is secured by the asset
- Novated Leases: include the vehicle in your salary package. Financier owns the asset, you and your employer sign a novation agreement to share responsibilities of the loan.
Why Use a Finance Specialist for Your Commercial Asset Needs?
Prosper Finance maintains close relationships with all the leading financial institutions securing you smart finance options galore. We take the time to understand your business and commercial needs upfront, then work with you to develop a solution that fits. Our team explores a whole of range of finance options and matches these to your business operating needs.
Actually, when it is time to think about how to finance your next business asset purchase, let us do the thinking instead. Here’s why:
#1 No nasties!
Say you’re buying a new company car. You take time to carefully select the dealership with the lowest loan rate. You find one that’s 2.9%. Sweet, well done you! Except that in the small print there are altogether about $5K of additional fees… There are no hidden fees. With 100 % transparency to your actual costs, there is one less thing for you to worry about.
#2 Holistic approach to well-being is not only for self-help gurus
The way we operate is holistic. I guarantee you that even the most ethical car dealer you will ever meet doesn’t really care that much about your financial well-being as a whole. And that is not his fault. Because why should he? The guy’s job is to sell cars for goodness sake.
For us, on the other hand, it is always about the long-term health of your finances. Consider us the family doctor of your wealth. Even with a single vehicle or equipment purchase, we would be looking at your entire financial situation and your best interests.
#3 Mind your own business!
Now that we have established that using a finance specialist is both a convenient and intelligent way to go, it is time for the biggest, most important reason of them all: you!
When we do your loans, you are left with more time to do what you do best – your own business! Experts make the loan process quick and easy for you so that you will be able to concentrate on making even more dough. Or alternatively to sit back and fantasise about that mindblowing new car smell you will be sniffing very, very soon!
#4 Low doc loan – yes, please!
With having a broker in your corner is likely to cut the processing time considerably shorter. There is a good chance you will get your financing organised as a low doc loan. All we need is for your business to have been registered for GST longer than 12 months and for the guarantor to be a homeowner. That’s it.
If you are looking to:
- save money
- save yourself from tedious paperwork and
- save tax
- get a fast approval
contact us for free consultation!