Finance Lease
A Finance Lease or Car Lease is an arrangement between the finance company (the lessor) and the client (the lessee); whereby the Car Finance company agree to rent a particular piece of equipment over generally a set term with a predetermined residual value.
The Lessor obtains legal ownership of the car to be leased, by paying the amount as advised on the (vendor's) supplier's invoice. The Lessee then has the use of the car and pays rent for that use for the term of the car lease contract. During the term of the Finance Car Lease agreement, the Lessee merely pays rent and does not obtain ownership or equity in the car they are leasing. Under a car lease agreement, the Lessee is responsible for maintenance and running costs, car insurance and registration fees for the leased item.
Finance Lease Benefits
- Terms from 1 to 5 years fully amortised or with a predetermined balloon payment at the end;
- Fixed interest rates and set monthly repayments;
- No need for a deposit;
- 100% of the Finance Lease is claimable. Note FBT maybe payable;
- GST on the purchase price of the vehicle is claimed back by the finance provider on your behalf. This lowers the amount financed to the purchase price minus GST;
- Customers registered for GST can claim the GST on the monthly Finance Lease payments;
- Lower interest rates due to the Finance Lease being secured against the vehicle;
- Receive great hands on personalised service from an experienced Finance Lease consultant.
Need More Information?
Applying for a Finance Lease with Your Car Loan is easy. We do all the hard work for you, can assist with selection of the right product for your requirements, prepare all the paperwork and submit it to the appropriate lender. As a finance broker we are not limited to any particular finance company - we can hunt around for the lowest interest rate, help you avoid 'hidden' fees and charges and most of all prepare the paperwork with the minimum of fuss and maximum of professionalism, we can even have you in your new vehicle within 24 hours.
If you would like more information on a Finance Lease, one of our Car Finance consultants can prepare you a tailored Finance Lease package.
Call the team at Your Car Loan now on 1300 220 880 or complete the online application form and we'll get back to you shortly.
