Business Vehicle Loans

At Hubbe, our partnership with a diverse panel of lenders enables us to assist you with an extensive range of car or vehicle finance solutions to all kinds of businesses right across Australia.

Our lenders offer a range of commercial car finance solutions for individuals and companies seeking finance for vehicles to be used in the business or for employees of the business. Whether you require a new fleet, work van or a company car; the business car finance experts through Hub can help you save both time and money sourcing the right finance.

• Certainty of a fixed interest rate.
• A loan term generally between 12 and 60 months.
• Discounted finance rates available for energy efficient vehicles and equipment.
• Generally, the only security needed is the asset itself.

• Your business has a valid Australian Business Number (ABN).
• You intend to use the product mostly for business purposes.

• Chattel Mortgage
• Car Leasing
• Hire Purchase

Chattel Mortgage is a mercantile finance product in which the customer acquires the vehicle ownership (vehicle being the chattel), during its purchase. The financier provides funds so that the customer can purchase the vehicle and at that time take its ownership. Then the financier issues the mortgage as a security for loan over the vehicle. Upon the completion of the contract, the interest on security is cleared off and the customer gets a clear title to the business vehicle.

• There might be availability of tax deduction when a vehicle is utilized for business motives
• Customers registered for GST can claim the GST included in the cost of the vehicle
• There shall be no charge of GST on the contract balloon price or on monthly repayment

A hire purchase is a system whereby the financier owns an asset during a hire period as the hirer pays constant instalments after which the hirer is granted the right of ownership of an asset in the event of making the final payment.

• The financier owns the equipment but later transfers it to the hirer after making the final term payment.
• Can be fully funded. Equity (e.g. trade or deposit) can also be contributed.
• Normally, tax deduction is the depreciation and facility interest.
• The GST on the price of purchase may be claimed if registered.

A finance lease is a type of agreement for financing equipment or a car whereby the financier keeps the title and leases the asset to the borrower, for a particular agreed term and rental amount. The value of the asset is subsequently reflected by a residual value at the conclusion of the term.

• Residual value derived from tax guidelines
• The financier owns the equipment
• Repayments are normally tax deductible completely
• 100% (total) funding without equity (e.g. no deposit)
• At the conclusion of the term, the financier offers for sale at the residual value despite unavailability of guarantee of ownership.

A rental (also referred to as an operating lease) is a system that finances equipment whereby the financier keeps the title and rents the asset to the borrower, for a particular agreed term and rental amount.

• The financier owns the equipment
• Repayments are normally tax deductible
• 100% (total) funding without equity (e.g. no deposit)
• No ownership guarantee. At the conclusion of the term, the financier may decide to sell the car/equipment, the financier may recover the car/equipment or the car/equipment may be refinanced by the financier.

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