A Commercial Hire Purchase is a business finance product where the customer hires a motor vehicle from the finance provider or bank for a set monthly repayment over a set term, normally 24 to 60 months
Enquire NowHire Purchase Chief
We are committed to providing our customers with access to the best Commercial Hire Purchase finance products in Australia. Our primary goals are outlined below:-
- To produce high quality "up to date" Commercial Hire Purchase information.
- To give you access to professional and experienced finance brokers
- We use the world wide web to make this happen
Other Finance Options
Car Lease
A Car Lease (also known as a Finance Lease) enables a individual or business to have use of a motor vehicle. Ownership remains with the finance lender until the residual is paid in full. Visit 1300 Car Lease...
Chattel Mortgage
A Chattel Mortgage is another option for Businesses looking for immediate ownership with the added benefit of claiming back the GST on the purchase price of the car. Visit Chattel Mortgage Chief...
Novated Lease
The Novated Lease agreement is a 3 way agreement between the employee, the employer and the financier. Visit Novated Lease Chief...
Car Finance
Instant online car finance quotes for all finance options including Commercial Hire Purchase, Chattel Mortgage and Car Lease. Visit Car Finance Chief...
No Payout Penalties
Did you know that car finance with no
payout penalties could save you $$$ thousands of dollars?
Most finance lenders and banks charge "retained interest" or commonly known as a "payout penalty" for terminating or paying out a car finance contract before the end of the term. This "retained interest" can add hundreds (if not thousands) to the payout figure and sometimes put you in a bad situation.
The Aussie Chief can give you access to finance brokers that can offer business car finance with absolutely no retained interest or payout penalties. Never owe more money on your car finance than what you borrowed!
Enquire NowFeatured Finance Brokers
Tab One
Advance Car Loans
Advance Car Loans is quickly becoming one of Australia's leading online car finance brokers.
Advance Car Loans has access to a wide range of Australia's leading car finance providers and banks. Their company's service includes products with the following features:
- Low interest rates Australia wide
- No establishment fees
- No payout penalties
Tab Two
1300 Car Lease
1300 Car Lease is the website packed full of useful car leasing information and tips.
Don't know which car leasing option is best for your situation? 1300 Car Lease has all the answers! This includes information on the following leasing products:
- Commercial Hire Purchase
- Chattel Mortgage
- Car Lease or Finance Lease
- Novated Lease
- Operating Lease and more
Visit www.1300carlease.com.au
Commercial Hire Purchase Comparison Rates
When choosing Commercial Hire Purchase finance, there is a wide variety of different factors that should be considered to ensure you choose the right loan for you. You need to consider other costs such as ongoing fees, and up-front charges which add to the cost of your loan over the loan term at the same time as comparing interest rates. These costs can vary between finance lenders and banks, so how do you make sure you are comparing apples with apples. By using the comparison rate.
What is the comparison rate?
The comparison rate is an indicative interest rate that combines the nominal interest rate with any foreseeable fees and charges associated with the loan, to help you obtain a more comprehensive picture of what your loan is going to cost you over the life of the loan. While the comparison rate helps you to compare one loan against another on a cost basis, it's also important to consider the features of a loan such as redraw and direct debit facilities, loan portability and repayment options that increase the flexibility of your loan and can make a huge difference to the overall cost of the Commercial Hire Purchase finance.
What costs does the comparison rate include?
- Nominal interest rate
- Loan approval and any other up-front fees
- Known ongoing fees
What does the comparison rate exclude?
- Government and statutory fees - as these are standard regardless of lender or loan type
- Insurance products like comprehensive car insurance premiums
- Fees and charges that are event based and may or may not apply throughout the life of your loan. Eg. Statement fees or early repayment fees
How do you calculate the comparison rate?
The comparison rate is calculated in accordance with a standard formula, specified by the regulations, which takes into account:
- The amount borrowed
- The term of the loan
- The frequency of repayments
- The interest rate
- Ascertainable fees and charges connected with the loan except for government charges
What is a comparison rate schedule?
The Comparison Rate Schedule is a table that displays Comparison Rates for varying loan amounts and terms. At Advance Car Loans Pty Ltd the Comparison Rate Schedules of our major panel lenders will be on display and available for collection. The Schedules will also be provided to customers with each application. The loan amounts and terms displayed in the various lenders. Schedules are examples that are determined by law and will be consistent for all lenders providing similar products. The schedules are not, in themselves offers of finance at the rates or terms shown and each application is judged on the credit and security criteria standards of the Lenders approached.