What is asset finance?
Asset financing is a type of business loan that’s secured by some sort of business asset, usually a car, truck, or machinery. A number of Australian businesses need expensive equipment or vehicles to help get the work done, and accessing finance means you can get on with the job sooner.
How long does it take?
Once you’ve made an application, an Aussie broker could get you indicative approval from one of the lenders on our panel within 24 hours. And once you’ve given us all the documentation we need, we can make sure you’ve got the funds ready to go when you’re ready to pick up your new car, asset, or business equipment.
How is the monthly repayment calculated?
There are a few factors that influence your monthly repayment, like the amount you finance, the loan term, the balloon (the leftover loan amount) or residual value (if applicable) and the interest rate which is usually fixed for the term of the loan. You can usually choose a term that suits your business from between 12-60 months.
Can I get a finance pre-approval?
Yes. We can pre-approve you for an amount so you can look for your vehicle, asset or equipment and know your budget. And the good news is, pre-approvals are generally valid for up to 60 days.
Do I need to provide Aussie with my latest financial information to get approved?
Normally, we need your business's financials for the last two years. But if your business has been in operation for two or more years, is registered for GST, you have a clear credit file and have equity in property assets, we may not need anything more from you. Just check with your Aussie broker.
If you have a home loan with a lender from our lender panel, this may mean we can get your finance for you as soon as possible.
If you’re replacing a vehicle or selected equipment that’s financed with another lender, you may already be pre-approved for finance with one of our panel of lenders.
Can I have a balloon payment on my contract?
Yes. We can help you sort out the balloon amount, based on the age of the car or equipment and the term you’d like to finance over.
Can I pay a deposit?
How do I apply?
The good news is that talking to Aussie won’t cost you a cent. So if you’re thinking about finance for your business, or you’d like more information, contact us on 1300 44 55 66 or enquire online today.