What are a Commercial Hire Purchases features & benefits?
A Commercial Hire Purchase for financing a car or other passenger vehicle has a number of main benefits: • Choice of terms (loan lengths) ranging from 24 to 60 months (two to five years) • Wide variety of residual value (balloon value) options, generally ranging from 0% to 60% depending on the type and age of the vehicle • A deposit may optionally be used to reduce the size of the loan • Tax deductions may be available when the car is used for business purposes • Input Tax Credits may be available where the purchaser is registered for GST • A Commercial Hire Purchase is secured finance, which allows lower interest rates A Commercial Hire Purchase through mycarlease.com.au has the following extra benefits (subject to lender selection): • No payout penalties or retained interest, giving you the flexibility to change cars whenever you want without it costing you extra money • No ongoing fees • Ability to make extra repayments without penalty • Repayments can be structured, matching paymen
