Searching and choosing the right vehicle for your business is an important and long process in itself. And then comes the finance process with the dealers and/or banks.
Avoid the dealers and let us advise and manage the transaction directly for you.
We offer a complete, diverse and flexible range of commercial loans and vehicle financing services and options and Lux Finance is accredited with Australia’s leading financial institutions ensuring that we are able to offer attractive finance terms, tailored to suit your particular requirements.
We are therefore able to meet most requirements whereas your bank may have a limited suite of products.
And then we do the hard work. We completely manage the application on your behalf – once we have collected your information there absolutely is nothing for you to do.
We also provide ongoing support so you don’t have to wait on hold with banks– payout figures, change of address and direct debit details.
And we are there when you need any advice and consulting for your commercial vehicle loan.
A Hire Purchase arrangement (also known as Corporate Hire Purchase, Commercial Hire Purchase or Asset Purchase) is an agreement where your financier owns the equipment during the hiring period. When you pay the final instalment, ownership is automatically transferred to you.
Equity is increased with each payment and you may decide to payout the loan and purchase the goods at any time during the contract.
Monthly payments can be structured to suit your cash flow and a deposit may be paid if so desired.
A chattel mortgage is simply a loan of money where the financier takes a lien by way of Bill of Sale over an asset.
The difference between this product and Commercial Hire Purchase and Leasing is that the customer owns the equipment from day one for both common law and tax purposes.
This may benefit business customers who utilise a cash accounting system.
We recommend you check with your accountant or legal advisor first.
A Finance Lease provides 100% finance for the acquisition of equipment or vehicles to be used in your business.
The term of the Lease can be matched to the expected life of the asset with fixed rates and the ability to structure payments to suit your particular cash flow requirements.
We can arrange Master Lease Agreements for you and assist with Progressive Draw downs as required by some suppliers.
A novated Lease is an agreement between the employer, the employee and the financier of the vehicle, whereby the employer typically agrees to meet finance lease payments and vehicle running costs while the employee remains employed.
In return, the employee ‘sacrifices’ a portion of their salary to cover the cost of the finance. If the employee ceases employment with that employer, they retain the vehicle, but then become responsible for all future leasing and operating costs. A replacement Novation agreement may be established with a new employer.
Under these arrangements, certain benefits arise for both the employee andthe employer.
By selecting a Novated Lease, the employee can chose the car of their choice whilst the employer removes the burden of listing the vehicle in its books and having to dispose of it should the employee leave.