Car leasing finance is a loan whereby you are given use of a vehicle for a period of time while the lender retains ownership of it. Too easy!
A car leasing finance term usually varies between 2 and 5 years. Upon the agreement’s end, the customer can pay a final instalment and own the car outright. For car leasing Australia, there are also options of trading for another vehicle or refinancing the residual balloon payment to continue leasing.
As with a chattel mortgage, the customer can choose to have a larger residual payment at the end of the lease term, which reduces the monthly payments.
Car leasing Australia is suited to sole traders, companies, partnerships and individuals who would utilise the vehicle to generate income.
Benefits of car leasing Australia include:
Flexible contract terms for car leasing finance allow you to choose the product and arrangements that best suit your business objectives and lifestyle. Often, there will be facility to make advance lease payments to achieve tax deduction or cashflow benefits. At Barling Finance, we can provide specialist product knowledge and guide you to make the best car leasing finance decisions for your situation. Car leasing can be complex and it’s important to take into account tax implications of the various leasing arrangements.
You may also want to consider a hire purchase or novated leasing arrangement. We specialise in these products and can provide comprehensive advice and competitive quotes.