How to get Your Small Business Ready for Christmas Festive Season?
The holiday season is crucial for small businesses in Australia. As customers flock to stores and local services, business owners must prepare according to the
Businesses involved in the delivery, transport, or movement of goods or services from one place to another require vehicles for seamless operations. Some might require a whole fleet. But what do you do when you cannot afford to buy or lease the vehicle with company funds? If it’s for business purposes majority of the times, the easiest way to access funds is through business vehicle finance. Don’t mix it up with a consumer car loans. They are not the same, and in this blog, we will try to help you understand their distinctions.
The term is self-explanatory! Business vehicle finance is the kind of financing option that allows one to secure funds to buy a car or a fleet for business purposes. It is a fixed-term financing option with a fixed interest rate. The loan terms vary between 2-7 years.
You can buy both used and new cars using the loan amount. There is no need for collateral, as the vehicle acts as an asset once you claim ownership. Once you claim ownership, you can enjoy tax rebates and benefits from it.
A business vehicle finance is not the same as a consumer car loan. The most distinctive factor is when you buy a car with business vehicle finance, the vehicle should be used for business purposes atleast 50% of the times. On the contrary, you apply for consumer car loans to buy a vehicle for personal use. Unlike consumer loans, the business vehicle finance is funded under a company that is trading with an active ABN.
You can buy the following vehicles using a business car loans:
A business vehicle loan has several benefits for the business owner and the company. Let’s learn a few:
There are other tax benefits that you don’t get when you apply for a personal car loan.
Do you want to buy a vehicle or a fleet for your business? Are you falling short of the cash amount to buy the vehicle? No worries because Broc Finance can help. They are the leading finance broker in Australia with competitive rates and favourable loan terms for people applying for business vehicle finance. Check out their offerings, compare the loan products, and reach out for a formal consultation today!
Saroj is the Head of Lending at Broc Finance. He comes with 13+ years of experience in small business lending and has a knack of structuring complex deals and get the best outcome for his customers.
The holiday season is crucial for small businesses in Australia. As customers flock to stores and local services, business owners must prepare according to the
Entrepreneurs often rely on loans to grow and manage their ventures. Business loans infuse SMEs with funds, allowing them to undertake urgent expenses and critical
There are multiple factors that can cause a rejection in your loan application. However, the one that is most common is the credit history especially
Contact us today and discover how our expertise can help your small business thrive.
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