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Why choose our Hire Purchase arrangement?

fast finance

Four hours from signing to finance

Once we have everything we need, you simply sign your agreements online. After that, you can leave the rest with us. We’ll transfer the money to the supplier so you can get your new car or equipment faster.

Get the right deal

We’ll get the right deal for your business

Whether you’re a small business or large corporation, our Australian based Equipment Finance Specialists are here to help you get the new car or equipment you need to put to work in your business. 

Stay in control of your costs

Stay in control of your costs

We’ll look at your anticipated cash flow and give you a range of finance options. Choose to pay monthly over two to five years and customise your repayment by including a balloon payment at the end of the agreement to lower your regular instalments. 

Here's what you get

We own the car or equipment for the duration of the Hire Purchase agreement, but the title transfers to you after your final payment. You also have the option to purchase it at any time.

Fixed interest rates and repayments for the term of your Hire Purchase agreement.

You may be able to claim input tax credits for the GST payable on interest and fees included in the price of the Hire Purchase.

Choose the balloon payment (the remaining balance owed on your loan at the end of your loan term) that suits you. See how to customise your repayment amount.

Four easy steps to get funding – how it works

Step 1

We’ll give you a breakdown of the costs and interest. We just need to know:

  • What you want to finance
  • How old it is
  • The finance amount.

Step 2

The process is fast and simple:

  • Eligible CommBank customers can receive a conditional credit decision online. Otherwise we will contact you to process your application over the phone.

Step 3

When your application is approved:

  • You can sign your finance agreement online using our SmartSign paperless technology.

Step 4

Leave the rest with us:

  • We’ll transfer the money to your supplier within four hours of you signing your agreement online.

How to customise your repayment amount

If you select an Equipment Loan or Hire Purchase arrangement you can reduce your monthly repayments by taking a portion of your loan and paying it as a lump sum at the end of the loan term. This is called a balloon payment.

With balloon

With balloon

Your monthly repayments will be lower, but you’ll pay more interest.

Without balloon

Without balloon

Your monthly repayments are higher, but you pay less interest and no lump sum to pay at the end of term.

Check out our other financing solutions

Things you should know:

As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on the information, consider its appropriateness to your circumstances. Applications are subject to the Bank’s normal credit approval and suitability of the asset. Fees and conditions apply. 

You should seek independent, professional tax advice before making any decision based on this information.

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