Welcome to Lead Advisory Group, your trusted local partner for securing the best business car loans in Bendigo. Our small team is dedicated to finding competitive deals, providing personal service, and offering unparalleled local expertise to empower your business ambitions. At Lead Advisory Group, we think of ourselves as more than just brokers; we're a part of your team, committed to providing tailored solutions that suit your unique needs.
Our strength lies in our one-to-one relationships and local, in-depth knowledge. Our experienced business car loan brokers work closely with you to understand your business requirements, ensuring we deliver the perfect financing solution. We are passionate about making the process easy, giving you the confidence that you're receiving a fantastic deal.
Whether you're seeking a low doc business car loan or the cheapest commercial vehicle finance, we've got you covered. From chattel mortgages, commercial hire purchases, to finance leases, we provide a wide range of business car loan options. Each type comes with its unique set of advantages, and we're here to guide you to the best fit for your business.
A Chattel Mortgage is a common choice among Australian businesses due to its potential tax benefits. When you opt for a chattel mortgage, your business retains ownership of the car (the chattel) while the lender takes out a mortgage against it as security. Once the loan is paid off, the lender's interest in the car is removed. Chattel Mortgages allow businesses to claim GST on the car’s purchase price in their next Business Activity Statement (BAS), and potential tax deductions may be available for the loan interest and depreciation of the car.
Commercial Hire Purchase (CHP) is another popular form of business car finance. In a CHP agreement, the lender purchases the car on behalf of your business and you hire it back over an agreed term. Once the final payment is made, ownership of the vehicle transfers to your business. Unlike chattel mortgages, GST cannot be claimed upfront in a CHP, but businesses can claim GST credits progressively over the term of the loan in their BAS. Furthermore, interest charges and depreciation may be tax-deductible.
Finance Leases are a type of loan where the lender purchases the vehicle and leases it to the business for an agreed term. At the end of the lease, you can choose to pay a residual value to own the car outright, refinance the residual amount, or trade it in for a new lease agreement. Payments under a finance lease are generally tax-deductible as they are considered an operating expense. Additionally, GST is charged on the lease payments but can be claimed back on your BAS over the term of the lease, making this a suitable option for many businesses.
Choosing the right broker can make all the difference. Consider their knowledge, experience, and most importantly, their dedication to you. Here at Lead Advisory Group, we believe in building strong relationships, offering custom services, and delivering expert local advice. With us, you're not just a client - you're a partner.
Get the wheels turning for your business. Partner with us for your business car finance needs and discover why local Bendigo businesses choose Lead Advisory Group.
Get the best business car loan deals from Bendigo's local experts. Tailored services and unbeatable finance options are a call away!
