Vehicle & Equipment Finance

Get the right loan or lease to suit your business. Finance cars, trucks, buses or whole fleets.

Whether its machinery, farming equipment or new technology, we’ll make sure you get the right finance solution to suit your business. PKM Loan and Mortgage Advisors has access to a wide range of lenders that specialize in financing asset backed loans.

Chattel mortgage

One of the most popular finance solutions for a business is a chattel mortgage. Under this loan structure, you can take ownership of your car or equipment and the lender will secure a mortgage over the chattel, which is a similar arrangement to a mortgage on your home.

Many accountants advise their clients to use a chattel mortgage due to the tax deductions available and the opportunity to claim the full GST as an input credit on your next business activity statement. You will also have the certainty of fixed monthly payments for the duration of the loan.

Hire purchase

Under a hire purchase arrangement, the lender will purchase a vehicle or equipment on your behalf. You then hire this asset from the lender, and commit to fixed repayments over the term.

Once the final payment is made on the loan, you will take ownership of the asset. During the term of the hire purchase, you also have the option to pay out the hire purchase arrangement and take early ownership of the asset.

Businesses that enter into a hire purchase agreement can claim the interest on repayments and depreciation as a tax deduction.