- Asset Purchase (Commercial Hire Purchase)
Under an Asset Purchase agreement assets are technically hired until the last payment of the agreement is made, at which point the user receives full title and becomes the outright owner.Depending on business usage, the interest portion of the regular repayments and depreciation can be claimed as tax deductions.Chattel Mortgages are designed to allow clients using cash based accounting to claim back the full GST payment in their next BAS return.Please note that as the financiers have to register a charge on the asset, the turnaround times for chattel mortgages are greater than lease/asset purchase. The financiers must receive original paperwork before settlement.
Sterling Financial Group Pty Ltd can also provide a consumer car loan which is captured under Asset Finance Credit Guide.
- Leasing Providers and preferred finance
Some items are regarded poorly as security such as boats, planes, office furniture and fittings etc. Contact our team at Sterling Financial Group to ascertain whether the goods you wish to finance are acceptable security.Similarly, some clients are regarded as a poor risk, such as owner-drivers with only one vehicle, those who have been previously declared bankrupt or have a poor credit history.