Renting gives you access to all of the equipment vital to the operation of your business, without the burden of outlaying the total purchase price. Another great option with your equipment may be to Rent-Try-Buy.
Rent up-to-date equipment and use the cash it generates to support your business growth. On the completion of the rental contract, you can purchase the equipment or return it and rent new model equipment.
Renting can be ideally suited to all sized companies who are growing quickly, need constant technology upgrades, wish to keep their balance sheets “clean” or who are unable to access finance through traditional lenders.
Use your equipment while you pay it off. You will own the equipment after the final payment.
You purchase equipment through a financier, who holds ownership of the product until you make the final payment. Regular payments are made over a set contract period and you have the option as to whether you would like to set a final ‘balloon’ payment.
Hire Purchase is best suited to companies, partnerships and sole traders who submit their GST on an accrual basis either monthly or quarterly.
Hire the equipment with a monthly lease payment. When the lease expires you may have the option to purchase at the residual value, or hand it back to the financier and upgrade.
The financier purchases the equipment or vehicle you require and then leases it to you. You then enjoy the use of the vehicle or equipment for an agreed time in return for a series of lease repayments. These payments may be less than those of a hire purchase facility as a residual value will be outstanding at the end of the lease.
A Finance Lease may also be possible in order to finance goods you’ve already purchased in the last six months.
Secure equipment against itself rather than your business or home equity.
A financier secures the equipment loan by registering a charge over the goods, in the same way as a residential mortgage secures a home loan, and you take ownership of the goods upon delivery. Once repayments are complete the mortgage is released and you have clear title to the equipment.
Chattel Mortgages offer flexible contract terms, fixed monthly repayments and are particularly attractive as they don’t rely on access to personal or business property for security.
If your business uses the cash method of accounting, a chattel mortgage will suit you as your business is able to claim the GST on the purchase up front.
Perfect if you can receive a car as part of your salary package.
How It Works:
The original employer is not left with an unwanted car and the employee gets to keep the vehicle. A Novated Lease is most beneficial for higher salaried employees, particularly those doing medium to high kilometres in their personal vehicles.
Pay monthly for supply and operating costs of the equipment you need in your business with the advantage of fixed equipment operating costs.
An operating lease gives you full use of an asset and includes ‘normal’ operating costs in the lease payment. Eg. The financier is responsible for routine repair and maintenance payments. At the end of your operating lease agreement, you may simply return the equipment.
Some of the benefits of an operating lease include:
Contact Cairns Finance today to enquire about your operating lease needs.
All businesses are different and Cairns Finance have the knowledge, skills and contacts required to build, negotiate and secure a financial package tailored to your specific circumstances; with the lender most interested in your industry and growth plan.
With so many lenders offering many different home loan products, deciding on which loan is right for you is a complex, time consuming exercise. Cairns Finance provides a complete service to their clients. They know if your finances are sorted you can concentrate on building your personal wealth.
Financing business equipment from heavy industrial machinery to the sales reps car and the new office photocopy centre is all handled with Cairns Finance. They will help you find the right finance package for your business structure and operating needs.
SMSF loans are funds which are loaned to a self-managed super fund in order to assist with the acquisition of eligible income-producing real estate. The funds borrowed are applied to the purchase of an asset. This asset is held in trust and the self-managed super fund acquires a beneﬁcial interest in the asset.
Cairns Finance, your choice for business finance
Cairns Finance specialises in developing finance for business growth. As one of Australia's leading business finance specialists, we've had the knowledge and experience to ensure you are able to access the right, industry specific finance to start or expand your business. And keep your personal finances in line at the same time. To find out how to meet your financial goals, contact us today.
As a member of Business Network International Australia, Cairns Finance has a strong referral network of proven professionals that its clients may access.
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