What is the difference between Lease chattle mortgage and hire purchase?

	Finance Lease	Chattel Mortgage	Commercial Hire Purchase
What is it?	The lenders purchase the asset at your request and rent it to you for an agreed period.	(Also known as Commercial Loan)You source and own the asset and the lenders provide a loan secured by the asset.	The lenders purchase the asset at your request and you buy it from them in instalments.
Who owns the asset?	The Lenders Do and you rent it from them	You do and the lenders hold it as security.	The Lenders do until the agreement has been paid. Ownership is then transferred to you.
What is the potential tax benefit?	The lease payments are generally tax deductible.	The interest on the finance and depreciation of the asset are generally both tax deductible.	The interest on the finance and depreciation of the asset are generally both tax deductible.

What do we finance?

Motor vehicles (New and used) Prestige, sedans & UTES

                 

Transport equipment (New and used) Small trucks, vans, heavy prime movers, semi-trailers etc..

                 

IT telecomunication, medical equipments (New only) Laptops to large corporate servers.

                 

Manufacturing equipment (New and used) Food productions lines, assembly lines, robotics.

                 

Construction machinery (New and used) Bulldozers, excavators, heavy equipment

                 

How do I apply for finance?

First Contact Prime Lease on 1300 267 237 or e-mail a request to be contacted via info@primeleasebrokers.com.au, we can contact you at any time suitable to you. Your dedicated consultant will established your needs, determine the best finance structure available and assist you in completing an application. The process takes a maximum of 15 minutes of your time.

Can I apply online?

Yes. You simply need refer to our home page and click on to "Apply Now:" Your easy to complete application should take no more than 10 minutes to finish. Simply e-mail it back or fax it and we will take care of the rest.

What proof of income do I need to provide?

If you are an employed professional requiring a vehicle finance via a Hire purchase or a Lease, generally your last 3 payslips will suffice. If you are self-employed, sole trader/a partnership or a company/trust, seeking a vehicle, Truck or equipment finance , the last 2 years profit & loss and balance sheet supported by personal tax returns is required.

I am not sure what other financials to provide?

Prime Lease will assist you to avoid any type of confusion around unfamiliar finance terminology when it comes to financials. We can liaise on your behalf with your accountant and obtain the relevant financials. Generally the process is simple where your accountant can e-mail us your financials and tax returns.

I am self-employed and my financials are not ready?

Prime Lease can assist businesses and ABN holders with vehicles finance and light trucks finance (Up to 3 tonnes ) with no financials an NO deposit required. if you have been in business for 2 years or more and have a minimum of $100k equity on property, a clear credit history (No defaults) you may be eligible for up to $66k. Goods will need to be purchased from reputable dealers. If you don't have property or equity on property, Prime Lease can still help you, if you have the above criteria with a cash deposit towards the cost of the goods of 30%.

How long does it take to get my finance approved?

Generally from the time an application is completed and proof of income supplied within 24hrs. Allow another 24 hrs. for contract signing, until you are able to collect the vehicle or equipment you have purchased.

I work all day, how am I going to sign my finance contracts?

Prime lease can help you even if you are very busy. At the comfort of your office or home we can e-mail you, your finance contract with your terms and conditions. The process is as simple as printing a few pages, signing them and scan to email back to us or fax for settlement. Settlements and receipt payments to suppliers are generally organised the same day of receiving your signed contracts . Our expertise and speedy service will ensure minimal disruption to your valuable time.

Can I have my finance pre-approved?

Yes. Prime lease can assist you with finance pre-approval for the vehicle, Truck or equipment you require prior to purchasing it. In fact we highly recommend to do so, this simply gives you peace in mind when shopping for the goods required.

Can I Finance my vehicle/equipment or Truck purchased from a private seller?

YES. Prime Lease has the expertise when it comes to private sales and handling the processes between buyers and vendors. Our thorough process and checks will ensure that when finance settles and Vendors are paid, the goods are 100% yours. You can be in Sydney buying a truck privately from Melbourne, the process can be done very fast, efficiently and with little fuss.

If I need additional finance do I need to go through the whole process again?

No. Once we have your information on our system any future additional finance or replacement of commitments will be a breeze. Prime Lease has sophisticated technology systems in place giving us the competitive edge to service our clients needing additional funding hassle free. If your business requires vehicles or trucks at several stages of the year, Prime Lease can set a credit limit in place allowing you to run your business stress free and have access to the asset required within 24 Hrs.

I purchased my (vehicle/ truck/equipment) using cash. Can I still get finance?

Yes. If you have purchased your asset with cash due to time restrictions, Prime Lease cans assist you with a sale and hire back. Goods generally need to have been purchased within the last 3 to 6 months. The process is very simple and cash can be reinjected to your business within 3 business working days. We suggest that you contact us to run you through the process and general terms and conditions required for a sale and hire back finance.