Equipment Finance

Asset acquisition for growing businesses

Whatever your business’s requirements are, whether it’s a fleet of company cars, equipment and machinery, or office furniture and fittings, Greenwich Finance can help you to gain access to the finance you need to help your business achieve it’s potential. We can assist in identifying the best way for your business to acquire the equipment it needs, as well in getting a positive result on your finance application.

Motor Vehicle Leasing

Motor vehicle leasing is a common way to finance a company fleet. This finance option, which is extremely widespread in Europe and the US, is a method of keeping operating assets and the associated liabilities off your company’s balance sheet. This method of finance gives your business the use of the car or commercial vehicle, while the lender retains actual ownership. At the end of the agreement, you can opt to either pay the residual and take ownership of the asset or re-finance the residual and continue the lease.

Novated Lease

A novated lease is a three-way vehicle finance agreement between employee, employer and the financier. Effectively, the employee pays for the lease of their car by salary sacrificing a portion of their pre-tax income. Loan payments, running costs, lease management fee and Fringe Benefits Tax (FBT) can largely be deducted from pre-tax income. The FBT liability can be offset by using the employee contribution method (ECM) which involves taking a portion of your lease payments from a post-tax environment.

The benefit of this arrangement for an employee is that they pay less tax, and can often save money on the costs of their vehicle. For employers, they are able to offer their staff an attractive benefit at no additional cost to their business.

Chattel Mortgage

The chattel mortgage’s flexibility has contributed largely to its high popularity with individuals, small businesses and medium-sized businesses. There are several benefits of using the chattel mortgage such as tax deductions, the capacity to claim GST and payment flexibility. The Greenwich Finance team will be able to provide you with an in-depth explanation of the advantages of using any finance option for your situation.

Commercial Hire Purchase

Commercial Hire Purchase is the traditional way of financing a multitude of business assets including equipment, fixtures and fitting and vehicles. With this type of finance arrangement, the asset is never actually owned by the customer, but is purchased off the lender at the end of the loan term.