Business Vehicle Finance Options | Car & Vehicle Finance Australia

What are Business Vehicle Loans in Australia?

Enterprises and sole traders often find the need to buy a vehicle for a myriad of business purposes. However, what does one do with insufficient funds to buy a car? In such a scenario, a business entity can apply for business vehicle finance.

A business vehicle allows the borrower to claim GST against the car on purchase, denote the vehicle as a taxable offset, and claim depreciation on the purchase value.

Business vehicle finance is a fixed-term financing contract with a fixed interest rate. The vehicle you purchase using the loan amount will act as the security against the loan, even though you are the designated owner. The ownership rights allow businesses to earn tax benefits from business vehicle financing.

Our team at Broc Finance has years of experience in facilitating business vehicle loans for enterprises, big and small. We can connect you with credible lenders and ensure that you find the best rates and favourable loan terms to benefit your business.

What you should know about Business Vehicle Finance

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What are the Key Features of Business Vehicle Finance?

Business vehicle finance has distinctive features, separating it from other forms of asset finance. Here’s a list of its defining attributes:

Allows enterprises to secure funding for a business vehicle if they intend to use more than 51% of the time for business purposes.
Fixed repayments and lower interest rates as compared to an unsecured business loan.
The loan is secured against the commercial vehicle that you are buying so no additional security required.
Business vehicle finance is quite popular among small businesses and sole traders. It is quite beneficial to them.
The interest rates against the loan vary as per the age, model and condition of the vehicle.
The loan terms vary between 1-7 years.

Business vehicle finance offers tax benefits to business owners and enterprises.

What Types of Vehicles Can You Buy with Business Vehicle Finance?

Here is a list to help you choose a vehicle for your business (that you can buy through business vehicle finance):

What are the Benefits of Business Vehicle Finance?

Business vehicle finance can benefit an enterprise in multiple ways, such as:

Helps to maximize the working capital and preserve its cash flow.
Since the repayment amount is fixed, it helps the borrower in accurate and precise projection of the expenditure and income.
There are flexible payment options, allowing the borrowers to choose an amount that will not deplete the cash flow.

There are tax benefits like depreciation and interest claim on the profit and loss statement of the business.

How Can Broc Finance Help?

No matter what kind of business financing solution you seek, Broc Finance will help facilitate your funding needs, including business vehicle finance. We have been actively helping enterprises replenish their cash flow, through diverse business financing means.

Our team has an unscathed record of working with clients and businesses ranging from small to big enterprises, new businesses, and start-ups. Even companies with bad credit scores can benefit from our range of services concerning business financing.

Broc Finance acts as a bridge between business owners and lenders, matching them up appropriately after assessing the financial situation of the business and its funding requirements.

Seeking our help is easy. You only need to fill up a form online and submit it; our experts will reach out to you in no time.

Streamline Your Business Vehicle Finance Application

Quick Approvals for Loans Up to $250K: Fast-track your journey with our simplified business vehicle finance application process.
Competitive Rates Starting from 6.25% p.a.: Secure the best business vehicle finance with interest rates designed to keep your costs low.
100% Financing on Purchase Price: Finance the entire value of your vehicle and preserve your capital.
Flexible Terms from Day One: With no minimum trading time required, we cater to businesses at every stage.
Loan Terms Up to 7 Years: Spread your payments comfortably over time, with options for balloon payments to reduce monthly outlays.

How to Choose the Right Business Vehicle Finance?

Our top vehicle finance loans in Australia have been compared below.

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Chattel Mortgage

Loan Term

1 - 7 years

Benefits

Can claim GST, Depreciation and other tax benefits.

Disadvantages

Record of vehicle ownership on the business balance sheet.

Operating Lease

Loan Term

1 - 7 years

Benefits

Lower upfront cost, able to upgrade, potential tax benefits, no deposit required.

Disadvantages

The business will not have ownership of the vehicle.

Hire Purchase

Loan Term

1 - 7 years

Benefits

More flexible payments, potential tax deductions.

Disadvantages

Full ownership only at the end of the loan term.

Finance Lease

Loan Term

1 - 7 years

Benefits

Balloon/Residual options, lower monthly repayments, tax benefits.

Disadvantages

Running costs are not generally included in the lease.

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Real results with real people.

55+ customer reviews

5.0

Niteesha Nagowah

We had an incredible experience working with Saroj from Broc Finance. He is incredibly knowledgeable, responsive, and guided us through the purchase of our company vehicle with expertise. The attention to detail and commitment to finding the best possible options truly set him apart. Highly recommend his services for anyone navigating the complexities of obtaining a finance. Thank you again for outstanding assistance.

Manpreet Kaur

Our sincere thanks to Saroj ji & his team for their invaluable assistance in securing the loan. We are extremely greatful for his exceptional service & support throughout the process. Highly recommend!

Matthew

Broc Finance were awesome…really responsive and solutions focussed. We especially appreciated having a broker who was an advocate for our interests when engaging with lenders.

Ibrahim Alpay

Saroj and his team is amazing have been using him for business funding for over a year he has found surprising solutions when others couldn’t make it happen very skill full with negotiating high loan amounts that I would never expect at wonderful terms and rates look no further I recommend broc finance for your business lending purposes look no further and don’t think twice much appreciated won’t go to any other broker at all many thanks to his team !!!!!!

vishal srivastava

We have used Broc Finance over last 2 years for various business line of credits and vehicle loan. Broc finance have been very professional in this journey. They have understood our needs as business and catered the solutions as per requirement . They look around in market and get one the best financial solution for the business be at vehicle of line of credits . I would strongly recommend the business for there services

Nasir sabiry

Thank you very much in helping me with financing a car SAS. You have been very professional and responsive every time I needed information. Fully recommend to any looking to finance a car.

Ajay Kanumuri

I would strongly recommend. Saroj Shah helped to get my loan with in span of three days. He was very supportive and clearly explained the loan process.

Scott Filby

Excellent experience with the service of Saroj! He did all the hard work and helped me find what I required. Saroj offered excellent suggestions and went the extra mile with his advice, which won my respect and helped in achieving the outcome required.

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Frequently asked questions

Once you reach out to us, we spare no time to assess your financial condition and other business details to match you with the right lender. You can get approval in as low as 24 hours and consecutively access funds.

You can be eligible for a business vehicle finance if you intend to use the car at least 51% of the time for business purposes.

The interest rates against business vehicle finance vary from case to case. You will have to provide details to our experts so they can get the best interest rates for you from a credible lender.

Yes, that is possible. Over the years, we have helped many businesses with bad credit history get business financing with favourable terms and interest rates. Reach out to our experts for details.