Business car loan
Vehicle finance to buy a car for your business without tying up your cashflow.
About business car loans
Also known as a chattel mortgage, a car loan enables your business to purchase and own a vehicle without needing to pay the purchase price upfront.
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Features
- Fixed interest rate
- Borrow from $15,000 for a new or used vehicle
- Covers a range of vehicles e.g. cars, utes vans, trucks, trailers, buses
Benefits
- Structured repayments to suit your cashflow
- Interest on the loan and depreciation of the vehicle may be tax deductible
- Your business owns the vehicle from the start
Eligibility criteria
- Your business is registered for GST and has a valid Australian Business Number (ABN)
- The vehicle is mainly used for business purposes
Frequently asked questions
You may be asked for a few documents such as your business’:
- Australian Business Number (ABN). This needs to have been registered for at least 2 years.
- financial statements from the last two years. This includes a balance sheet and profit and loss statement.
- tax return statements from the last two years.
Important information
Conditions, fees and credit criteria apply. Before making a decision, it's best to read the terms and conditions which are available on application.
The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you.
The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances.