Commercial Hire Purchase (CHP)
Commercial Hire Purchase, or CHP, involves you hiring the motor vehicle or equipment from Aussie Asset Finance for a fixed repayment amount over a fixed period of time with an option to acquire the vehicle or equipment.
What are the benefits of Commercial Hire Purchase?
There are a number of benefits to Commercial Hire Purchase with Aussie for your next motor vehicle or equipment acquisition, including:
- The ability to tailor your payments by selecting the term (up to 5 years) and adjusting the up-front deposit and/or final instalment amounts
- Seasonal payments available
- Interest charges and depreciation may be deductible for tax purposes if the vehicle is used for income generating purposes
- If your business is registered for GST, you may be entitled to an input tax credit on the GST component of the vehicle or equipment purchase as well as the GST applicable to terms charges and fees under the finance contract
Why a Commercial Hire Purchase arrangement
Apart from the benefits listed above, arranging a Commercial Hire Purchase with Aussie means a hassle-free, highly personalised service. We can even arrange pre-approved finance for your next vehicle or business equipment purchase, giving you total peace of mind and greater bargaining power.
Are there other options that I should consider?
A Chattel Mortgage is a good option if you’re looking to finance a motor vehicle or equipment purchase for your business, but there may be other options worth considering. Check out the information on Chattel Mortgages, Novated Leasing and Finance Lease to compare.
Want to know more?
Call us now on 1800 097 234 or contact us online for a quote or to discuss how Commercial Hire Purchase with Aussie can assist your business to find the best possible financing solution for your needs.
There are a number of potential tax benefits that may be available with Commercial Hire Purchase, including the ability to claim interest and depreciation on tax, as well as input tax credit benefits on the GST component of the vehicle or equipment purchase price as well as the terms charges and fees. Seek appropriate advice from someone familiar with your business situation to fully understand how these tax implications impact your business.
There are a number of names commonly used to refer to Commercial Hire Purchase, including CHP, Corporate Hire Purchase, Hire Purchase, Offer to Hire, amongst others.
All applications to Aussie Asset Finance are subject to satisfaction of approval criteria, and terms and conditions apply. No part of this document is to be construed as an offer by anyone capable of acceptance or as a solicitation to obtain a financial product. The information is not an expression of opinion or recommendation and does not constitute financial, accounting, taxation, general or personal advice and should not be relied upon as such. The recipient should make its own assessment of any product or service referred to on this website and seek appropriate advice.
Aussie Asset Finance is a registered business name of Macquarie Leasing Pty Ltd ABN 38 002 674 982 (Australian Credit Licence 394925) and is used under licence.
The "Aussie" trademark is a trademark of AHL Investments Pty Ltd ABN 27 105 265 861. Credit assistance services are provided by AHL Investments Pty Ltd (Australian Credit Licence 246786) and its credit representatives. The credit provider is Macquarie Leasing Pty Ltd.