How does the Assetfin process work?
You can contact us via an online application or fax through an application.
We will obtain the necessary information from you and prepare the lenders application on your behalf.
No more getting the run around from the banks, you only have to deal with a designated Assetfin staff member. We will deal with the lenders and deliver you the financial solution that fits your business needs.

What do I do if I don’t know how to complete the application form?
For any questions you have, click on request a call back and one of our experienced staff will assist you with your queries.

How much will this cost me?
For a leasing transaction, a processing fee of $695 + GST upon receiving finance approval from the lender.
In cases where a client requires refinancing of existing facilities or is looking at making an acquisition of a business, a success fee between 0.5% and 2.00% of the facility sought, payable upon approval of the facility. For Assetfin to prepare your application for the lender and take all the hassle of dealing with the banks out of your hands, a processing fee of 0.1% of the funding sought is charged (a minimum of $1000.00 process fee is charged).

What is a Commercial Hire Purchase, and how do they work?
A Commercial Hire Purchase (CHP) is a commercial finance product. Under a Commercial Hire Purchase a finance company purchases an asset on behalf of the customer, and then gives the customer use and possession of the asset ("hires") in return for regular payments.

Once the final payment has been made and any residual (balloon) value paid, the customer takes possession of the asset (purchase). Alternatively, the customer can choose to "trade in" the asset, or re-finance the residual value.

What are the features and benefits of a Commercial Hire Purchase?
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 asset;
A deposit may optionally be used to reduce the size of the loan;
Tax deductions may be available when the asset 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 Assetfin has the following extra benefits*
No payout penalties or retained interest, giving you the flexibility to update your asset whenever you want without it costing you extra money; 
No ongoing fees;
Ability to make extra repayments without penalty;
Repayments can be structured, matching payment to you or your business' cash flow; 
Fixed interest rate, so monthly repayments are fixed for the life of the loan.

*subject to lender selection

What are the GST and tax implications of a Commercial Hire Purchase?
Under a Commercial Hire Purchase, tax deductions may be available when the asset is used for business (income producing) purposes. Generally, under a Commercial Hire Purchase tax deductions can be claimed for depreciation on the asset (up to the depreciation limit) and interest charged on the loan.

With a Commercial Hire Purchase, GST is charged on the purchase price of the asset, but no GST is charged on the monthly repayments or on the balloon (residual) payment. Customers who are registered for GST on an Accruals basis can generally claim the GST contained in the purchase price of the asset as an Input Tax Credit on their next BAS.

Who is eligible for a Commercial Hire Purchase, and who does it suit?
Businesses - including companies, sole traders and partnerships - and individuals are eligible for a Commercial Hire Purchase, providing the asset is predominantly used for business (income producing) purposes. Generally, a Commercial Hire Purchase suits business customers who are registered for GST on an accruals accounting basis, as they can then claim the GST in the purchase price of the asset as an Input Tax Credit on their next BAS. Commercial Hire Purchase can also suit individuals with a high proportion of business use for their asset e.g. a vehicle.

Another consideration is whether the customer prefers to lease the asset rather than own it, in which case a finance lease may be more appropriate.

What is a Finance Lease and how does it work?
A Finance Lease is a commercial finance product. Under a Finance Lease, the financier purchases an asset on behalf of the customer, and then leases the asset to the customer in return for monthly rental payments.

At the end of the term (length) of the lease, the financier gives the customer the option to purchase the asset in return for a final instalment (residual value). Alternatively, the customer may choose to "trade in" the asset, or re-finance the residual and continue the lease.

What are the features and benefits of a Car Lease?
A Car Lease (Finance Lease) for a car or other passenger vehicle has a number of key benefits: Wide variety of residual value (balloon value) options; 
Choice of terms (loan lengths) ranging from 24 to 60 months (two to five years);
Tax deductions may be available when the car is used for business purposes;
No GST on the purchase of the car, as the GST is claimed back as Input Tax Credits by the financier;
A Car Lease is secured finance, which allows lower interest rates.

A Car Lease through Assetfin has the follow 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;
Fixed interest rate, so monthly repayments are fixed for the life of the loan;
Ability to make advance lease payments for tax or cash-flow purposes. 

What is a Chattel Mortgage, and how does it work?
A Chattel Mortgage is a commercial finance product. Under a Chattel Mortgage a finance company lends money to the customer to purchase an asset (the "chattel"), and the customer makes regular repayments.

The customer takes ownership of the asset at the time of purchase, but the finance company also takes out a "mortgage" over the asset by way of an ASIC-registered Fixed and Floating Charge to provide security for the loan.

Once the term of the loan is completed and any residual (balloon) value is paid, the finance company removes the Charge, giving the customer clear title to the asset. Alternatively, the customer can "trade in" the asset or re-finance the residual value.

What is an Operating Lease, and how does it work?
An Operating Lease is simply a rental agreement. You avoid the risks associated with ownership and have no residual value liability. At the end of your operating lease agreement you may simply return the asset. The benefits of an operating lease are that working capital is maintained, lease rentals are tax deductible to the extent the asset is used to generate taxable income and there is no resale value risk as the financier will own the asset at the end of the term of the operating lease. Another very important feature with an operating lease is that the finance cost is known for a fixed period of time and is great for budgeting.