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Commercial Hire Purchase

Purpose:

Available for companies, business, sole traders and professionals who use their motor vehicles for business purposes. Under this method, the GST component of the purchase price of the motor vehicle can be claimed back by the purchaser on the next Business Activity Statement rather than claiming the GST over the term of the contract.

How it Works:

The hire purchase agreement is a contract where the financier (the ‘owner’) gives the ‘hirer’ possession and use of the motor vehicle in return for regular payments. When the final payment is made, the hirer owns the motor vehicle.

Benefits:

Under this arrangement although you do not own the motor vehicle until all monies owed under the arrangement are paid in full, you can still claim a tax deduction for the depreciation of the motor vehicle as well as the interest component of the loan repayments where the vehicle is used for business related purposes.

Other benefits include fixed repayments over the life of the loan, loan terms of 9 to 60 months as well as structuring repayments with or without a balloon payment at the end of the loan so that you can tailor repayments to suit your lifestyle and cash flow.

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Testimonials

 

I would like to express my sincere thanks for helping me with the acquisition of my new 4WD. The wife recommended I try you guys out and I was extremely impressed with your service and the way you assisted me with the change over of our trade in vehicle. The change over was in excess of $4000 better than I received from my local dealer. Will definitely be using you again in he future and will highly recommend your services.

Brian
Annandale, Sydney

Thank you for your assistance in helping me with the purchase of my fleet of Toyota Hilux Utes. You saved me so much time and the prices you received where way better than I was quoted by a number of dealers. Your process in getting me the new utes, organising the finance and getting them delivered on schedule was fantastic. Definitely will be recommending your services to all my family, friends and colleagues in the construction industry. Great Job.

Rob
MTG

I would like to personally thank New Car Discounts Group for the great service I received whilst buying my new car. Saved me money on the new car and the car loan repayments. The dealers that I went to put so much emphasis to do a deal on the spot. Now I know why, they were making over two thousand dollars extra on the price I paid the dealer recommended through you. Such a better way to buy a new car.

Zorin
VW Golf buyer

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  • 1300 209 569

  • Suite 2202 | Level 22
    Westfield Tower 2
    101 Grafton Street
    Bondi Junction NSW 2026

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