Features & benefits

  • Stay in control of your costs

    You can choose to:

    • Pay monthly over two to five years
    • Make a balloon payment at the end of your agreement to lower your regular instalments
  • Ownership transfers to you

    • 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 have the option to purchase it at any time
  • Potential tax benefits

    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.

Customise your repayments

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

Balloon payment

With balloon payment

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

No balloon payment

Without balloon payment

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

Rates & fees

Who can apply?

  • You can apply if you’re:

    • Aged 18 years or over
    • Eligible to work in Australia
    • An individual, sole trader, sole owner of your company or someone authorised to apply for finance and credit for a business
    • Financing equipment that will be used by a business (mostly or entirely for business purposes)

    And your business has:

    • Been trading for more than 12 months
    • A good credit rating and is not going through the process of bankruptcy

Apply in four easy steps


Get a quote online

We’ll give you a breakdown of the costs and interest when you tell us: 

  • What you want to finance
  • How old it is
  • The finance amount
  • The balloon payment (the remaining balance owed on your loan at the end of your loan term) that suits you


Simple application

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


Sign your documents online

Once approved, you can sign your finance agreement online with our SmartSign paperless technology.


Get funding within four hours of signing

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

Things you should know

  • The information on this page is for general information purposes only and 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, charges and conditions apply. Full terms and conditions will be provided with any agreement upon credit approval.

    Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information.