Car Finance For Businesses

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We have some additions to the panel of lenders specialising in asset finance for business.

We have options of low rate, low doc, operating lease, rent to own, sale and lease back (where you can finance equipment you already own to raise capital)

Call Elkins Finance 1300 355 467 or use the contact us form to request we contact you to discuss. 

The preservation of working capital and taxation benefits are two big draw cards for businesses looking to finance vehicles.

Companies the world over are often faced with the costly requirement of cars.  With the number of financing options on the rise, many business owners are funding these purchases rather than paying cash.

Financing, rather than buying outright, enables businesses to take advantage of two key benefits: greater control of cash flow and precious working capital, as well as various tax benefits.

A business owner needs to consider whether their working capital is better spent on other aspects of the business, such as paying debtors, advertising or even purchasing more inventory.

Some businesses may even be able to invest working capital and achieve a rate of return that exceeds the interest charges associated with financing,

The taxation benefits associated with financing staff vehicles is another key reason why businesses are turning to financing options. Of course, there are many different types of finance, each offering different tax benefits, as well as the luxury tax threshold to consider, so expert tax advice is strongly recommended.

In certain circumstances, the financing of business assets provides a business owner with an opportunity to claim various tax deductions, such as rental payments, interest payments and depreciation, thus minimising the amount of tax payable,

Going down the financing route can be cost-effective, and with expert advice it can also be pain-free when it comes to paperwork. These include Lo-doc and No-doc options allowing rapid approvals without the need for financial statements. Some conditions apply.

“With a standard application taking no more than 20 minutes to complete, and approval usually the same day, we see motor vehicle finance as an integral part of providing a comprehensive service to our customers,” according to Tony Elkins of Elkins Finance.

“What’s more, with interest rates at all-time lows, the decision between paying cash and financing business assets should be an easy one.”

Elkins Finance is an MFAA accredited finance broker who specialises in commercial and equipment finance, and can make car finance simple. Call Elkins Finance 1300 355 467 or use the contact us form to request we contact you to discuss. 

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