Get the car you want with pre-approved finance
Business car finance
Finance Lease
This type of finance gives you 100% finance for vehicles for business use. It works like a rental agreement, where you lease the vehicles from the financier (Commonwealth Bank) for an agreed period of time.
The benefits:
- With 100% finance, your working capital is preserved (there may be a residual value payable at the termination of the lease).
- You can set the terms with a fixed interest rate so your repayments can be planned throughout the leasing term.
- It may be possible to make an offer to acquire the vehicle at the end of the lease.
- If you use your vehicle to generate assessable income, you may be able to claim the rental payments as a tax deduction.
- Lease rentals and related charges are subject to GST but you may be entitled to claim a GST credit if your business is registered for GST.