All About Commercial Hire Purchase

Unlock the Benefits of Commercial Hire Purchase Loans

Commercial Hire Purchase Loans: Your Path to Asset Ownership

Explore how commercial hire purchase loans can empower your business by providing flexible financing options tailored to your needs.

Understanding Commercial Hire Purchase Loans

Commercial hire purchase loans are a popular financing option for businesses looking to acquire assets without the immediate financial burden of full payment. Under this arrangement, a lender purchases the asset on behalf of the borrower, who then makes regular payments over an agreed period. Once all payments are completed, ownership of the asset is transferred to the borrower. This type of loan is ideal for businesses seeking to manage cash flow effectively while expanding their asset base.

Common Questions About Commercial Hire Purchase Loans

Discover answers to frequently asked questions about commercial hire purchase loans to help you make informed financial decisions.

What is a commercial hire purchase loan?
A commercial hire purchase loan is a financing arrangement where a lender buys an asset on behalf of a business, which then pays for the asset over time through installments. Ownership is transferred to the business after the final payment.
How does a commercial hire purchase loan differ from leasing?
Unlike leasing, where the asset is returned at the end of the lease term, a commercial hire purchase loan results in ownership of the asset once all payments are made.
What are the benefits of a commercial hire purchase loan?
Benefits include asset ownership, potential tax advantages, and the ability to manage cash flow by spreading payments over time.
Can I choose the asset I want to purchase?
Yes, you can select the asset that best suits your business needs, and the lender will purchase it on your behalf.
Are there any tax implications with commercial hire purchase loans?
Interest and depreciation may be tax-deductible, but it’s important to consult with a tax advisor to understand specific implications for your business.
What happens if I miss a payment?
Missing a payment can lead to penalties or additional fees, and it may affect your credit rating. It’s crucial to communicate with your lender if you’re experiencing financial difficulties.

Key Benefits of Commercial Hire Purchase Loans

Commercial hire purchase loans offer businesses the flexibility to acquire essential assets without the immediate financial burden of full payment. This financing solution allows companies to manage cash flow effectively while benefiting from potential tax advantages.

Flexible Payment Options

Asset Ownership at Term End

Potential Tax Benefits

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All about Chattel Mortgage

Discover the Power of Chattel Mortgage Loans

Unlock Your Financial Potential with Our Expert Guidance

Explore how chattel mortgage loans can provide you with the flexibility and financial leverage needed to secure your assets and achieve your goals.

Understanding Chattel Mortgage Loans

Chattel mortgage loans are a type of secured loan where the borrower uses movable personal property as collateral. Unlike traditional mortgages that are tied to real estate, chattel mortgages are ideal for financing vehicles, machinery, or other tangible assets. The borrower retains ownership of the asset while making regular payments, and once the loan is fully repaid, the mortgage is discharged. This type of loan offers flexibility and can be tailored to suit individual financial situations, making it a popular choice for both businesses and individuals seeking to finance their assets.

Your Chattel Mortgage Loan Questions Answered

Get clarity on common queries about chattel mortgage loans to make informed decisions.

What is a chattel mortgage loan?
A chattel mortgage loan is a secured loan where the borrower uses movable personal property as collateral, such as vehicles or equipment, while retaining ownership of the asset.
How does a chattel mortgage differ from a traditional mortgage?
Unlike traditional mortgages that are secured against real estate, chattel mortgages are secured against movable personal property, offering more flexibility in asset financing.
What are the benefits of a chattel mortgage?
Chattel mortgages offer benefits such as flexible repayment terms, potential tax advantages, and the ability to finance a wide range of assets.
Who can apply for a chattel mortgage loan?
Both individuals and businesses can apply for chattel mortgage loans, provided they meet the lender’s credit and asset requirements.
Are there any tax benefits associated with chattel mortgages?
Yes, businesses may be able to claim tax deductions on the interest paid and depreciation of the asset, but it’s advisable to consult with a tax professional.
What happens if I default on a chattel mortgage loan?
If you default, the lender may repossess the asset used as collateral to recover the outstanding loan amount.

Discover the Advantages

Key Features of Chattel Mortgage Loans

Flexible Repayment Options

Choose a repayment plan that aligns with your financial situation, providing you with the flexibility you need.

Competitive Interest Rates

Benefit from attractive interest rates that make your loan more affordable over the term.

Ownership Benefits

Enjoy the advantages of owning your asset outright from the start, enhancing your business’s equity.

Tax Deductible

Take advantage of potential tax benefits, as interest and depreciation may be deductible.

Tailored Loan Amounts

Secure a loan amount that fits your specific needs, ensuring you get exactly what you require.

Quick Approval Process

Experience a streamlined application process with fast approvals, getting you on the road sooner.

Ready to Get Started?

Contact us today to learn more about how a chattel mortgage loan can benefit you. Our team is ready to assist you in finding the perfect financing solution. Don’t wait—take the first step towards owning your asset today!

All About Bad Credit Commercial Loans

Unlock Business Opportunities with Bad Credit

Commercial Loans for Challenging Credit Histories

Discover how you can secure the funding you need to grow your business, even with a less-than-perfect credit score. Our tailored solutions are designed to help you succeed.

Flexible Loan Terms

Quick Approval Process

Competitive Interest Rates

Expert Financial Guidance

Understanding Commercial Loans

Commercial loans are financial products designed specifically for business purposes. Unlike personal loans, which are used for individual needs, commercial loans provide businesses with the capital required for expansion, purchasing equipment, or managing operational costs. These loans often come with different terms and conditions compared to personal loans, such as varying interest rates, repayment schedules, and collateral requirements. At Auto Link Finance, we specialize in helping businesses navigate these complexities to find the right loan solution that aligns with their financial goals.

Your Questions About Bad Credit Commercial Loans Answered

Learn more about how you can obtain a commercial loan despite having a bad credit history. Our experts address common concerns and provide insights to help you make informed decisions.

Can I get a commercial loan with bad credit?

Yes, it is possible to secure a commercial loan even with bad credit. Lenders may consider other factors such as your business plan, cash flow, and collateral to assess your eligibility.

What are the interest rates for bad credit commercial loans?

Interest rates for commercial loans with bad credit can vary. They are typically higher than those for borrowers with good credit, but competitive rates are available depending on your financial situation and the lender’s criteria.

How can I improve my chances of getting approved?

To improve your chances, prepare a strong business plan, demonstrate consistent cash flow, and offer collateral if possible. Working with a financial intermediary like Auto Link Finance can also enhance your application by matching you with suitable lenders.

Key Benefits of Our Loan Services

Obtaining a commercial loan with a less-than-perfect credit score is possible with our tailored solutions. We offer flexible terms and competitive interest rates, ensuring you can secure the funding you need without the stress of traditional lending barriers.

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Flexible Loan Terms

02

Competitive Interest Rates

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Quick Approval Process

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Personalized Financial Guidance

What Our Clients Say

“The team at Auto Link Finance went above and beyond to understand my situation. They provided a loan option that was both affordable and tailored to my needs.”

Sarah L.

“I never thought I could get a commercial loan with my credit score, but Auto Link Finance made it happen. Their service was exceptional, and I felt supported every step of the way.”

David K.

Step 1: Initial Consultation

Begin by scheduling a consultation with our experienced advisors. We’ll discuss your financial goals and assess your current credit situation to determine the best approach for your loan application.

Step 2: Application Submission

Submit your loan application along with any required documentation. Our team will guide you through the paperwork to ensure everything is in order for a smooth process.

Step 3: Loan Approval and Disbursement

Once your application is reviewed, we’ll work with our network of lenders to secure approval. Upon approval, funds will be disbursed promptly, allowing you to focus on growing your business.

Secure Your Business Future with Auto Link Finance

Uber Car Loans

Uber Car Loans

From bursting onto the transportation scene as an illegal ridesharing business to evolving and progressing into the highly successful and lucrative ridesharing business it is today, there is no denying that Uber has become exceedingly popular, and Uber has left its mark on the transportation industry as we know it. Uber has swept our nation giving people a cheaper economical alternative to the taxi industry, of which has caused outrage amongst the taxi drivers in the industry.

Uber is also extremely accessible, almost any person can be an Uber driver providing they meet the requirements set out by Uber which are simplistic and easy to meet. Another benefit of Uber opposed to taxi driving is the cost of a taxi driving license which are quite expensive. Uber drivers on the other hand do not require a taxi license, which further adds to Uber’s accessibility. With all that in mind, you are left with the question of what car should you choose to begin your Uber career. Perhaps you are an established Uber driver, then it may be time for an upgrade. Regardless of whether you are just starting or upgrading, choosing a vehicle can be quite difficult, after all as an Uber driver, your car is your office and you are going to be spending a lot of time in it, therefore making the correct choice is imperative.

Below is the list of requirements for an Uber X Vehicle.

Uber X Vehicle Requirements

  • Vehicle must be in excellent working condition
  • No older than 10 years old
  • Must be able to seat 4 passengers and the driver
  • Must be able to pass a Redbook Inspection
  • Vehicle must be registered relative to your state E.g. a Victorian Uber driver must have their registered in Victoria
  • Vehicle must be free from cosmetic damage and commercial branding
  • Vehicle cannot be a taxi, government, branded or rebuilt vehicle

As an Uber driver looking at purchasing a new vehicle there also some other factors you need to take into consideration that were not listed above.

Safety – Safety is by far and away the most important feature to a car to both you and your customers. Whilst you are a safe driver, other drivers may not be, so having a car that can be prepared for the unexpected will be a wise choice.

Comfortability – As previously stated, your car is going to be your new office, so you want something that you are comfortable sitting behind the wheel of the whole day. You are also going to want your customers to have enough space at the back and possibly some space for any potential luggage they take.

Operating costs – Fuel efficiency, insurance costs and servicing are some important costs to keep in mind, a fuel-efficient vehicle is ideal, so fuel costs don’t take a chunk out of your wallet. Servicing and insurance costs tend to be higher for the “luxury” brands such as your BMW’s and Mercedes so it may be best to avoid these if you are tighter on budget

Vehicle Price – A common misconception is that you must spend a fortune on getting a brand spanker to keep up to date however that is not the case. See below for some affordable 2018 options that we recommend you look at.

Toyota Camry Ascent Hybrid 2018 – $29,990

Toyota is a Japanese powerhouse in the Australian Car Market, bringing us reliable cars like the Corolla which is well known for being practical and easy to drive, the Camry Ascent Hybrid is no different. It is currently a popular choice across taxi companies and the Australian public alike, this is not without good reason. The Camry feels just as nice and easy to drive as the Corolla, if not better, however unlike the corolla, the Camry is more spacious allowing for more leg room for both the driver and the customers. The Camry is also nice and quiet at lower speeds thanks to its hybrid drivetrain allowing your customers to have a conversation without competing with the noise of an engine. When you are buying a hybrid, fuel efficiency will be at the forefront of your mind, and the Camry is the most efficient out of the cars on this list. The Camry also features a five-star ANCAP Safety Rating which will give you and your passengers peace of mind.

Mitsubishi Outlander 2018 ES 7-Seater – Starting from $30,990

If you have a larger family and planning to only do Uber on the side, the Mitsubishi Outlander might be the car for you. The Outlander is a relatively flexible car as although it is five-seater SUV, it can transform into a 7-seater, perfect for when the unexpected happens. The back 2 seats are not the spacious under the sun however it is more than serviceable for children, adults will still fit in the back but not as comfortably. The Outlander has Apple CarPlay and Android Auto which are standard across the range, which is a nice touch, so you can use your favorite music streaming app such as Spotify or use your own maps app over the cars sat nav. The Outlander and the Camry share one major benefit, the safety rating. The entire series of Outlanders were awarded a five-star ANCAP Safety Rating when they were tested in 2014. 

Ford Mondeo Titanium Wagon 2018 – starting from $33,190

The Ford Mondeo is a car that not a lot of people have heard of, when was the last time you remember this car show up on a Ford Ad on TV? The Mondeo is a little bit more expensive then the previous models listed in this article, but this is affordable luxury that you and your clients will love. The rear seats are both comfortable and have plenty of legroom. The rear seats are also quite spacious so having 3 adults in the back is not a problem. Safety is also not a problem as the Mondeo shares the same five-star ANCAP safety rating that the aforementioned Outlander and Camry have. The Australian public might still be feeling a sting of sadness and disappointment after the end of the Ford Falcon dynasty, the Ford Mondeo may just be the replacement that not only we are looking for but also may be your next uber car.

You will notice some things in common with the above cars, they are all roomy and spacious. They are all fuel efficient and most importantly they are all safe. All of which are extremely important when it comes to selecting not only a car in general, but even more so when it comes to getting an car for Uber.

So, you now know what the requirements are for an Uber X vehicle, you know what to look out for in a car and you have some examples above of what to purchase there is only one thing left to do, buy the car. That is where Auto Link Finance comes in, we can help you achieve a commercial car loan that is best suited towards your own personal circumstances.  Don’t put off getting your car any longer, call us on 03 9368 3298 or apply now to get your application started today.

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Bad Credit Truck Loans

Business Xpress Truck Loans

Are you having trouble getting a commercial loan for a truck you desperately need to add to your fleet? Has a mistake led to some bad credit that is continuously coming back to bite you? Tax Returns or other Financials not completed due to more important things keeping you busy?

Trust us, you are not alone in the predicament mentioned above. However just because bad credit is haunting your credit report, do not let it stop you any longer from getting that new addition or upgrade to your fleet.

At Auto Link Finance we understand the difficulties and annoyances of getting commercial finance today, most lenders set their guidelines out for businesses to have their financials/tax returns done and for them to have clean credit leaving those with bad credit out to dry. Be that as it may, Auto Link Finance is now able to offer a new product we have brought on board called Business Xpress Loan.

Business Xpress Loans have made getting commercial finance such as bad credit truck loans easier than ever. What makes this product different to others for bad credit truck loans, you may be asking? First of all, we are understanding that your priorities will be on the road, driving your truck or running your business so no financials, no worries, all that is required for income verification is 3 months business bank statements showing consistent income and enough income to service the loan payments.

What about defaults and judgements?

We can assist with those too, provided there are no unpaid finance defaults or judgements are over $3,000 within 2 years unless it has been under a payment arrangement for at least 6 months. We can also help if there are no unpaid finance defaults or judgements over $7,000 in 5 years unless it has been under a payment arrangement for at least 6 months.

There are some exceptions to the amount of each default/judgments listed above, if you can display a good payment history on any other current loan/rental contract you currently have that has been running for 12 months or longer with no late payments.

Loan amounts range from $10,000 all the way to $75,000 with loan terms between 36 – 84 months depending on the age of the truck.

If you are a discharged bankrupt, that isn’t an issue, all that is required for you to be accepted is to be a minimum 6 months discharged from bankruptcy.

Minimum Requirements to Qualify

  • Must be ABN registered for at least 6 months
  • Must have at least a 10% deposit, i.e. if the truck purchase price is $75,000, then your deposit towards the purchase will be $7,500 and the loan amount would be for $67,500
  • Must provide 3 months of business bank statements showing all business income going into the business account.
  • Must not have any payday loans
  • No unpaid finance defaults or judgements are over $3,000 within 2 years unless it has been under a payment arrangement for at least 6 months.
  • No unpaid finance defaults or judgements over $7,000 in 5 years unless it has been under a payment arrangement for at least 6 months.

Not after a bad credit truck loan? Perhaps another piece of business equipment or vehicle takes priority, that’s no worries, our Business Xpress Loans apply to a wide range of business equipment and vehicles. So, don’t put it off any longer, click the apply now button and reap the rewards of a Business Xpress Loan today.

Ready To Apply?