An Asset Lease enables the customer to have the use of their business equipment and the benefits of ownership, while the financier retains actual ownership of the equipment.
Under a Chattel Mortgage the customer takes ownership of the equipment (chattel) at the time of purchase.
While not strictly a business car finance option, Novated Leasing is a great way for businesses to offer an added incentive to their staff at no extra cost to the employer.
Personal Loan is a type of unsecured car loan, whereby the financier lends you money but doesn’t take any security over the vehicle.
Commercial Hire Purchase is a finance product where the customer hires their business equipment from the financier for a fixed monthly repayment over a set period of time.
Equipment Rental is an agreement between a financier and a customer whereby the financier buys the equipment on behalf of the customer and rents it back to them over a fixed period
Car Loan, or more specifically a secured Car Loan, is a type of loan where the financier lends money for the purchase of a vehicle and also takes security over the vehicle to protect the loan.