Hire purchase
What is a hire purchase?
A hire purchase allows your business to buy vehicles or equipment over an agreed period of time. We buy the vehicle or equipment at your request and allow your business to use it in return for regular repayments.
What happens at the end of the hire period?
When all the repayments and final repayment is made, your business will own the asset.
Benefits and features
- Flexible repayment options to suit your cashflow including balloon payments
- We purchase the asset at your request and you buy it from us in instalments
- Interest on the finance and depreciation of the asset may be tax deductible1
Eligibility
- Your business has a valid Australian Business Number (ABN) and is registered for GST
- You intend to use the asset for mostly business use
Can be used to get^
- Cars, utes and vans
- Trucks, trailers and buses
- Agricultural equipment
- Construction equipment
- Computers, fitouts and manufacturing
The Detail
^Conditions, fees and credit criteria apply. Before making a decision it's best to read the terms and conditions which are available on application.
The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you.
Consider if the product is appropriate for you. The General Terms are important and we encourage you to review, save and print them.
1. The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances.