Commercial Hire Purchase (CHP, HP, Asset Purchase)

  • Most Common vehicle and equipment finance
  • Loan term 12-60 months
  • The GST inclusive amount is financed
  • Other payment structures such as seasonal payments are accepted
  • A deposit or trade-in can be used to reduce the loan amount ( Deposit allowed)
  • Balloon payments are user-defined and expressed as a $ value
  • Accrual accounting clients can claim full GST at their next BAS
  • Interest and Depreciation are Tax Deductable

    • Chattel Mortgage

  • Most Common vehicle and equipment finance
  • Loan term 12-60 months
  • The GST inclusive amount is financed
  • A deposit or trade-in can be used to reduce the loan amount (deposit allowed).
  • Balloon payments are user-defined and expressed in dollars
  • As a result of the Asset sale to the client, the financier places a "chattel mortgage" over the goods as security
  • Higher fees due to stamp duty on mortgage
  • Accrual/cash accounting clients can claim full GST at their next BAS, Interest and depreciation are tax deductible.

    • Finance Lease

  • GST exclusive amount is financed
  • Residual payment is expressed as a %value and must meet ATO Standards
  • The client indemnifies the financier for the residual amount
  • This is a rental product
  • Only monthly payments are Tax Deductable (expensed via P&L)

    • To choose which products best suit you. You need to answer the following questions:

  • Do you want to own the asset at the end of the term?
  • Is your account on Cash or Accrual basis?
  • Will the asset depreciate rapidly?
    • With over 30 years of mortgage experience and wisdom, Fast Repay Home Loan can help you create a plan that minimises your repayments, improve your cash flow and helps you repay your mortgage faster. We aren’t just a mortgage broker, we also have financial planning and accounting arms that can work together to achieve the best outcome for you and your family.
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