Buying a business vehicle and need finance? Use our car finance calculator to estimate your monthly payments.
We provide both lease finance and hire purchase finance. This car finance calculator helps you assess your monthly payments when using hire purchase to finance your new vehicle.
We understand that car leasing sometimes doesn’t work for a business. That’s why we also offer a range of competitive hire purchase options including structured payments to suit your cash flow.
With hire purchase car financing we simply fund the car by way of a good, old-fashioned hire purchase over 3-5 years in most cases.
Many companies go for options that include balloon payments and the GST content of the purchase going back in.
Payments are not tax deductible but you do get an up-front GST refund and can claim annual depreciation and the interest costs over the term of the loan.
You depreciate the car typically somewhere between 20% and 30% p.a. depending on your accountant’s advice. Whilst you enjoy the benefits of ownership, your capital is tied up and may also affect other funding arrangements with your bank.
Phone us on 0800 275-374 if you’d like more clarity on the various ways you can finance yourself into a new vehicle.