Car and Equipment Finance Broker in Sydney
Finance a car, ute, truck or piece of equipment without tying up cash your business needs elsewhere. As a mortgage broker handling car and equipment finance, we also look at how the loan affects your home loan borrowing power, so one purchase does not block the next.
What to Settle Before You Buy
Decide whether the asset is for business or personal use first. Business use opens up chattel mortgages and leases with different tax treatment; personal use means a consumer car loan assessed under responsible lending rules.
Get finance approved before you commit to a dealer or supplier. A pre-approval gives you a firm budget and puts you in a cash buyer's position when negotiating.
If a home loan or refinance is on the horizon, plan the order. Every car or equipment repayment is counted against your income when a home lender assesses you, so the timing can change how much you can borrow. As your Sydney mortgage broker, we plan both together.
Finance Options for Cars and Equipment
The right structure depends on who uses the asset, how you account for GST and what you want at the end of the term:
Chattel Mortgage
Your business owns the asset from day one and the lender holds it as security. GST-registered businesses can usually claim the GST on the purchase price in their next BAS, and interest and depreciation may be deductible.
Finance Lease
The lender owns the asset and leases it to your business. Lease payments may be deductible, and you can buy the asset for the residual at the end of the term.
Novated Lease
A three-way agreement between you, your employer and the lender, with payments made from your pre-tax salary. Eligible electric vehicles may be exempt from fringe benefits tax.
Consumer Car Loan
A secured loan for a car used mainly for personal purposes. The car is the security, which usually means a lower rate than an unsecured personal loan.
Equipment and Machinery Finance
For excavators, tractors, trucks, trailers, medical and dental equipment, IT and fit-outs. Terms are usually matched to the working life of the asset.
Low Doc Asset Finance
For established business owners without up-to-date financials. Some lenders approve on an ABN, GST registration and a declaration of income, often without full tax returns.
Tax treatment depends on your structure and the asset. Confirm deductions, GST and any instant asset write-off with your accountant before you sign.
What Lenders Check Before They Approve You
Asset finance approval turns on a few factors:
ABN and GST History
Business finance lenders look at how long your ABN and GST registration have been active. Two years or more opens the widest lender choice and the lightest documentation.
Property Ownership
Owning property, even with a mortgage, often allows lighter documentation and sharper pricing, because it signals financial stability to the lender.
The Asset Itself
Age, type and resale value all matter. New or near-new assets from a dealer are the easiest to fund; older assets and private sales narrow the lender pool.
Credit History
Lenders check both your personal and business credit files. Recent defaults or multiple enquiries can limit options or increase the rate.
Setting the Loan Structure
Three settings shape your repayments and total cost:
Balloon or Residual
A lump sum left at the end of the term lowers regular repayments. You pay it, refinance it or trade the asset in, and interest is charged on it throughout.
Term Length
Terms commonly run from one to seven years. A longer term lowers repayments but increases total interest.
Deposit
Many business loans need no deposit. A deposit or trade-in reduces the amount financed and can improve the rate.
How the Process Runs From First Call Onwards
Straightforward asset finance can be approved within a few business days:
Mapping Your Position
We go through the asset, its use, your business and any home loan plans, then recommend the structure that fits.
Comparing Lenders
We compare rates, fees, balloon options and documentation requirements across our panel and bring back the options that fit.
Securing Approval
We lodge the application and manage the lender's questions, so you can buy with a firm budget.
Settling With the Supplier
Once you have a tax invoice, we arrange documents and payment directly to the dealer or supplier.
Planning the Next Step
Before the balloon falls due or your next property purchase, we review the loan so it works with your other plans.
None of this commits you to a lender, and no application is lodged until you have chosen one.
What This Costs You
Broker commission is paid by the lender that funds the loan. Any fee payable by you is set out in writing before you commit, and the first conversation carries no cost.
Asset finance can carry establishment, monthly account and early payout fees. We show the full cost of each option, not just the rate.
Trade-Offs Worth Knowing
Costs and risks worth weighing before you commit:
Home Loan Borrowing Power
Car and equipment repayments reduce what a home lender will lend. Plan the order of your purchases if a property is coming.
Large Balloons
A large balloon can exceed the asset's value at the end of the term, leaving a gap to fund if you sell or trade in.
Early Payout Costs
Many asset loans are fixed rate, and paying out early can trigger fees or charges.
Dealer Finance
Dealer offers can bundle add-ons or a higher rate into the repayment. Compare the total cost before accepting.
Why Business Owners Work With Us
DIY Lending is led by Di Yin and operates as a Corporate Credit Representative of Finsure Finance & Insurance Pty Ltd, Australian Credit Licence 384704. We are a member of the Mortgage and Finance Association of Australia and the Australian Financial Complaints Authority.
We look at your car and equipment finance alongside your home, investment and commercial SMSF lending, so each loan is structured with the others in mind.
Our car and equipment finance work keeps every decision about your own money with you.
Get a Quote Before You Buy
Tell us what you are buying, what it will be used for and your business details. You will get the structure that fits, a repayment estimate and the lenders to compare.
Call 02 8806 7258 or send your details through.
Frequently Asked Questions (FAQs)
What is a chattel mortgage?
A business loan where your business owns the car or equipment from the start and the lender holds it as security until the loan is repaid. It is the most common structure for business vehicles.
Can I claim GST on a financed business vehicle?
With a chattel mortgage, GST-registered businesses can usually claim the GST on the purchase price in their next BAS. With a lease, GST is included in each payment. Confirm with your accountant.
Do I need a deposit for equipment finance?
Often no. Many lenders fund 100% of the price for established businesses. Newer businesses or older assets may need a deposit.
Can a new business get equipment finance?
Yes, though with fewer lenders. Owning property, industry experience or a deposit helps when the ABN is less than two years old.
What is a balloon payment?
A lump sum due at the end of the term. It lowers regular repayments but increases total interest, and needs to be paid, refinanced or covered by selling the asset.
Will a car loan affect my home loan application?
Yes. Home lenders count the repayment as a commitment, which reduces your borrowing power. If you are planning both, we look at which should come first.
How quickly can asset finance be approved?
Straightforward applications are often approved within one to three business days. Complex structures, older assets or private sales can take longer.
This page contains general information only. It does not take your objectives, financial situation or needs into account, and it is not a recommendation to enter into any credit contract. Tax treatment depends on your circumstances; speak with your accountant before acting. Fees, rates and lender requirements change.