Equipment Finance

Finally, it has happened. Your hard work and dedication have paid off and you landed that massive contract that is going to take you and your business to the next level. The only problem is you are in desperate need of some new equipment, and you may be unsure what the best way to finance this may be. Luckily for you, here at Gold Coast Car Finance, we have a range of options available through our extensive lending panel for your new equipment. It might surprise you to know that there are many businesses essentials that your company can finance, not just the traditional cars, trucks, machinery and earthmoving equipment. Generally if you need it for your business to operate, be it computers and tablets, phone systems, point of sale systems, fitouts, medical equipment, manufacturing equipment, it's worth giving us a call to find out what we can do to assist. Businesses who want to grow and maximise their productivity and profits, are frequently utilising financing options for new assets. Additionally the appropriate tax implications your accountant can detail for you are nothing to sneeze at!

Equipment Loan

This is one of the options we have at our disposal. This can be one of the most effective financing tools. Especially if the ultimate goal of the business is to own the equipment outright at the end of the day. Usually, you would be able to secure the full loan amount with no upfront payment. This is down to the fact that the actual piece of equipment can be used as security for the loan. One is also able to claim the interest paid, and rate of depreciation as a tax benefit. It is a great financing tool no matter how you approach it.

Finance Lease Agreement

This option is ideal for those clients who are looking to equip themselves with the best of the best but do not want to spend the capital. The bank still owns the asset, and they are just leasing it to you for a predetermined period. This solution ultimately offers you the advantage of having lower monthly payments and excerpts much less strain on your business's cash flow. The lease payment can also be tax-deductible, but please check with your accountant for more specific information pertaining to your circumstances. This is a great option for those clients still trying to find their feet.

Cash Flow Considerations

Across our time in the industry, there have been many situations in which purchasing a specific piece of machinery can supercharge a companies ability to increase it's bottom line. This can either be through lower production costs, faster manufacturing capacity, reduced wages (through automation of a key task), putting another team or operator in the field with the right tools to do the job and the list goes on. Through having clear expectations of what the finance repayments are, our clients are able to actively project the cashflow that the new purchase will generate versus the payments.

There are some incredible rates available depending on your specific circumstances, and the age of the unit/vehicle/machinery in question. A general rule of thumb is that the older a vehicle is the higher the interest rate will be, but that's not always the case. There are many intricacies to navigate in equipment financing, but rest assured our broker team has decades of experience in this area. We will guide you through the process and fight tooth and nail to get the best available rates and conditions for your loan.