A Credit Agreement is the traditional and most common form of vehicle financing. Credit Agreements can range from 6 to 60 months with deposit levels to suit. No deposit finance is very common and payments can be structured to suit with deferred payments of up to six months. Depending on budget and cash flow, balloon payments are also an option.
Often referred to as 'lease to own', finance lease is a preferred method of financing for businesses and GST registered individuals. This allows purchasing the vehicle of your choice without diverting valuable working capital from your business. Lease terms can vary between 12 and 60 months and residual values and monthly rentals are negotiable.
Operating Lease is a popular choice for corporates and businesses. At the end of the lease you simply return the vehicle and drive away in a new model. There is no residual liability (other than fair wear and tear) and monthly rentals are often 100% tax deductible. You can also have the option of a full maintenance package built into your monthly rental.