BUSINESS VEHICLE FINANCE
What are Business Vehicle Loans in Australia?
Enterprises and sole traders often find the need to buy a vehicle to utilize it for myriad business purposes. However, what does one do with insufficient funds to buy a car? In such scenarios, a business entity can apply for business vehicle finance or business car 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 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:
Business vehicle finance offers tax benefits to business owners and enterprises.
What Kind of Vehicles Can You Buy with Business Vehicle Finance?
There is a whole list of vehicles that you can buy using business vehicle finance, such as: