Asset and Equipment Finance

Best asset and equipment finance in Australia at the lowest interest rate

Our clients’ satisfaction ratings on Google and Facebook have made us Australia’s most trusted Number 1 asset and equipment finance broker.

Low rate asset and equipment finance!

Asset and equipment finance is crucial for businesses to obtain the necessary asset and equipment for their operations. Finance for business assets has an array of finance options such as Asset Finance, Equipment Finance, Manufacturing Equipment Finance, Machinery Finance, Industrial Equipment Loans, Mining Equipment Finance, Construction Equipment Loans, Agricultural Equipment Finance, Small Business Equipment Finance, Yellow Goods Finance, Office Equipment loans, IT Equipment Finance, Vehicle and Equipment Loans, Heavy Equipment Finance, Transport Equipment Finance, Flexible Equipment Finance, Used Equipment Finance, Short-Term Equipment Leasing etc.

Asset and Equipment Financing option extends to a diverse array of assets, including

Warehousing Machinery and Equipment

  • Forklifts
  • Packers
  • Wrappers

Manufacturing Equipment

  • Lathes
  • 3D Printers
  • CNC Machines
  • General Factory Fitout

Commercial vehicles for all types of prime

  • Mover, Light , Mining Trucks
  • Trailers
  • Cars
  • Caravans
  • Boats
  • Buses
  • Motor Vehicles

Earthmoving Equipment

  • Excavators
  • Bulldozers
  • Loaders
  • Mixer
  • Skid Steel Loader
  • Backhoe
  • Dump trucks

Building Mobile Crane and Tower Cranes

  • Building Mobile Crane
  • Tower Cranes
  • Boom Lift
  • Concrete Pump

Healthcare Equipment and Medical Equipment finance

  • Medical diagnostic equipment from X-ray machines
  • CT Scanners
  • Dental Equipment
  • Medical fitout

Hospitality Equipment Finance

  • Restaurant kitchen equipment
  • Fitout

Agricultural and Farming Machine

  • Cultivator
  • Mower
  • Farm Truck
  • Tractors
  • Seed Drill
  • Seeders
  • Combine Harvester

Business and Office Equipment

  • IT systems and technology
  • Office equipment
  • Yellow goods
  • Tools
  • Office fitout

Solar, Environmental Systems

Renewal Energy Equipment loans

Finance for business Assets is not easy and comes with its own set of requirements to understand the return on business and how the business will be capable of paying off its liabilities and not defaulting on any payments. Businesses get baffled by the long list of requirements. Due to the confronting requirement to access funding to improve their productivity, lots of companies take a back foot and hinder their growth.

Low Doc Asset and Equipment Finance

Low Doc, also known as No Doc, Self Dec, or Lite Doc, requires minimal to no proof of the borrower’s financial position. Instead, it relies on assessing the tenure of your business, your financial position as the borrower, any guarantor’s financial status, and the asset being purchased. It is an asset-based lending. This option is ideal for businesses with little or no provable servicing, such as the capacity to demonstrate or prove the ability to repay the loan. In other words, minimum documentation loans.

At VOXFIN, we understand the diverse needs of businesses in Australia. Our Asset Finance Specialists are here to help you explore various finance options, including Low Doc loans, which can provide the flexibility your business needs. Contact us to discuss the best financial solutions tailored to your business needs.

We have a team of asset finance brokers who specialise in all types of assets and equipment finance. Expert Finance brokers at VOXFIN will assess your business needs and cash flow to provide you with the lowest asset rates and asset financing options to help you navigate the complexity of business financing. Our success rate in getting asset finance is very high. Check out the Equipment Lease Calculator.

Solutions are available for every situation, even if the bank has said “NO.” We have asset and equipment finance deals for people with bad credit scores and have guided many people through challenging situations, such as impaired credit scores, bad credit scores, defaults, etc.

There are many benefits that could be ascertained based on individual goals and circumstances:

  • Flexible contract terms ranging from 1 to 7 years 
  • Residual value may be placed on contract
  • Fixed interest rate and monthly repayments
  • A tax deduction is available when the vehicle is used for business purposes
  • GST is not charged on the monthly rental or residual payment (but is charged on fees and interest)
  • Customers registered for GST may be able to claim the GST in the vehicle price, fees and interest*
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Your Finance Options

Asset Lease

Also known as short-term equipment leasing, an asset lease enables you to use business equipment and enjoy its benefits without worrying about the ownership overhead, as the bank or the asset lender retains actual ownership of the equipment at the end of the lease term.

How does it work?

The Bank or lender can purchase the equipment on behalf of the client, who then pays the financier a fixed monthly lease rental to use the equipment for the lease term.

A number of choices are typically available at the end of the lease, subject to the intent of the asset lender and financier. Commercial finance specialists at VOXFIN recommend that the options be taken at the end of the term in consultation with the clients.

Customers enjoy the following benefits

A number of benefits could be assessed based on individual business goals and circumstances:   

  • Flexibility in terms of contract tenure and rates
  • Accountability in financer’s books
  • Tax deductions may be claimed where appropriate

Flexible Commercial finance options

Chattel Mortgage

A Chattel Mortgage is a commercial financial product where the customer takes ownership of the vehicle (chattel) at the time of purchase.

How does it work?

The asset Finance Bank or lender gives the client the funds to purchase the vehicle, and the client takes ownership of the vehicle (chattel) at the time of purchase.

Customers enjoy the following benefits 

There are a number of benefits that could be assessed based on individual business goals and circumstances:     

  • Flexible contract terms from 1 to 7 years
  • GST may be claimable based on individual circumstances
  • Tax deductions may be applicable based on individual circumstances
  • A residual value can be tailored as per the client’s goal and the budget

Please consult your account*

Equipment Rental

When using an Equipment Rental, the lender buys the equipment on behalf of the client and rents it to them for fixed repayments over a fixed period.

Customers enjoy the following benefits

There are a number of benefits that could be assessed based on individual business goals and circumstances:     

  • Flexible contract terms from 1 to 7 years
  • Costs known in advance
  • Fixed interest rates and monthly rentals
  • Rental payments may be claimable based on individual circumstances*

Please consult your account*

Commercial Hire Purchase

A customer hires the vehicle from the lender for a fixed monthly repayment over a fixed period of time.

How does it work?

Under this arrangement, the asset financier or the lender agrees to purchase the car on behalf of the customer and then hire it back to them over a fixed period of time. The customer has the complete right to use the vehicle for the term of the contract but is not the owner of the vehicle. At the end of the contract term, when the total price of the vehicle (minus any residual) and the interest charges have been paid in full, the customer takes ownership of the car.

Customers enjoy the following benefits

There are many benefits that could be ascertained based on individual goals and circumstances:

  • Flexible contract terms ranging from 1 to 7 years
  • Residual value may be placed on contract
  • Fixed interest rate and monthly repayments
  • A tax deduction is available when the vehicle is used for business purposes
  • GST is not charged on the monthly rental or residual payment (but is charged on fees and interest)
  • Customers registered for GST may be able to claim the GST in the vehicle price, fees and interest*

Please consult your account*

 

For Asset and Equipment Finance, you are choosing VOXFIN for:

  • Fast approvals
  • Low doc to lite doc asset and equipment finance
  • Internally negotiated the lowest interest rate on the assets 
  • Personalised asset and equipment finance solutions
  • The best asset and equipment finance broker in Australia will guide you throughout the loan process
  • Our clients’ high satisfaction ratings made us Australia’s best commercial finance broker
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Planning for asset and equipment finance, consider the following points

Before obtaining asset and equipment finance, there are several key considerations to keep in mind:

Financial Assessment
Evaluate your current financial situation, including cash flow, revenue projections, and existing debt obligations, to determine the amount of financing you can afford.

Equipment Needs
Clearly define the equipment or assets you require for your business operations. Consider factors such as size, capacity, functionality, and technological specifications to ensure the equipment meets your business needs.

Financing Options
Research and compare different financing options available in the market, including loans, leases, and hire purchase agreements. Assess the pros and cons of each option and choose the one that aligns best with your business goals and financial capabilities.

The business loan process includes

Creditworthiness
Understand your credit score and history, as it can impact loan approval and interest rates.

Loan Terms
Thoroughly review the terms and conditions of the loan, including interest rates, fees, and any collateral requirements.

Business Plan
Have a comprehensive business plan that outlines your goals, strategies, and financial projections to demonstrate your ability to repay the loan.

Risk management and legal advice

Legal and Regulatory Compliance
Ensure compliance with all legal and regulatory requirements associated with obtaining a business loan.

Risk Management
Identify and mitigate potential risks associated with taking on debt, such as economic downturns or changes in market conditions.

Professional guidance
VOXFIN asset and equipment loan brokers guide you through each step, clarifying loan terms so you can make informed decisions about business loans. You should also consider seeking advice from financial advisors, accountants, and legal experts.

Frequently Asked Questions (FAQs)

Questions and queries related to Asset and Equipment Finance

WHAT IS ASSET AND EQUIPMENT FINANCE?
Asset finance definition, equipment financing, business asset loans

Asset and equipment finance refers to loans or leases provided to businesses for purchasing necessary assets or equipment. This type of finance allows businesses to spread the cost of purchasing equipment over a period of time, improving cash flow and enabling growth without large upfront expenses.

WHY IS ASSET AND EQUIPMENT FINANCE IMPORTANT FOR BUSINESSES?

Importance of asset finance, business growth, equipment funding benefits

Asset and equipment finance is crucial for businesses because it:

Facilitates business growth by allowing the acquisition of necessary equipment.

  1. Helps manage cash flow by spreading out payments over time.
  2. Provides tax benefits, as repayments on some finance agreements may be tax-deductible.
  3. Enables businesses to keep up with technological advancements by financing up-to-date equipment.
WHAT TYPES OF EQUIPMENT CAN BE FINANCED?

Types of equipment finance, asset finance options, business equipment loans 

Various types of equipment can be financed, including:

  1. Manufacturing machinery
  2. Office equipment
  3. IT hardware and software
  4. Vehicles and fleets
  5. Medical equipment
  6. Construction machinery
  7. Agricultural equipment
WHAT ARE THE DIFFERENT TYPES OF ASSETS AND EQUIPMENT FINANCE?

Types of asset finance, equipment leasing, asset loan options 

The main types of assets and equipment finance include:

Leasing equipment for a specified period with options to buy at the end.

  1. Hire Purchase: Paying for equipment in instalments, with ownership transferring after the final payment.
  2. Chattel Mortgage: A loan secured against the equipment, where the business owns the asset from the outset.
  3. Operating Lease: Renting equipment for a period without ownership at the end.
HOW DO I APPLY FOR ASSET AND EQUIPMENT FINANCE?

Applying for asset finance, equipment finance application process, business loan application 

  1. To apply for asset and equipment finance, you typically need to:
  2. Identify the equipment or assets you need to finance.
  3. Gather necessary documentation, including financial statements, business plans, and identification.
  4. Await approval, during which the lender will assess your business’s creditworthiness and financial stability.
WHAT ARE THE ELIGIBILITY CRITERIA FOR ASSET AND EQUIPMENT FINANCE?

Equipment loan requirements, business loan criteria 

Eligibility for asset and equipment finance generally depends on:

  1. The financial health of your business.
  2. The value and type of the equipment or asset.
  3. Your business credit history.
  4. The ability to demonstrate repayment capacity.
  5. The length of time your business has been operating.
WHAT ARE THE BENEFITS OF ASSET AND EQUIPMENT FINANCE?

Benefits of asset finance, advantages of equipment financing, business finance benefits 

The benefits of asset and equipment finance include:

  1. Preserving working capital and improving cash flow.
  2. Accessing the latest technology and equipment.
  3. Flexible repayment options tailored to business needs.
  4. Potential tax advantages.
  5. Enabling business expansion and operational efficiency.
HOW ARE INTEREST RATES DETERMINED FOR ASSET AND EQUIPMENT FINANCE?

Asset finance interest rates, equipment loan rates, financing costs 

Interest rates for asset and equipment finance are determined by:

  1. The lender’s assessment of your business’s credit risk.
  2. The type and value of the equipment being financed.
  3. The term of the finance agreement.
  4. Current market interest rates.
  5. Your business’s financial health and history.
CAN STARTUPS QUALIFY FOR ASSET AND EQUIPMENT FINANCE?

Startup asset finance, new business equipment loans, startup financing options 

Startups can qualify for asset and equipment finance, although they might face more stringent criteria. Lenders may require:

  1. A solid business plan.
  2. Personal guarantees from business owners.
  3. Higher interest rates to offset the higher risk.
  4. Detailed financial projections and market analysis.
WHAT HAPPENS IF I DEFAULT ON AN ASSET AND EQUIPMENT FINANCE AGREEMENT?

Asset finance default, equipment loan consequences, financing risks 

If you default on an asset and equipment finance agreement, consequences may include:

  1. Repossession of the financed equipment.
  2. Negative impact on your business credit score.
  3. Legal action by the lender to recover owed amounts.
  4. Financial strain on your business, potentially leading to insolvency.
UNDERSTANDING ASSET FINANCING: WHAT YOU MUST KNOW.

When applying for vehicle and equipment financing, it’s important to avoid these mistakes: 

  1. Randomly applying with multiple lenders
  2. Not being honest on your application
  3. Borrowing excessively
  4. Applying in quick succession
  5. Allowing multiple credit checks

We work with you to find the best loan for your business and guide you to avoid these mistakes. Complete the Contact Us section or call us at 0370652000. One of our business loan specialists will be in touch to discuss your financing needs.

LEASE OR BUY? MAKE THE RIGHT CHOICE FOR YOU.

As you decide whether to buy or lease a vehicle or equipment to enhance your business, it’s important to consider the impact each option will have on your working capital. Before making a decision, keep the following considerations in mind: 

  1. Consider the length of time you will need to use the asset. The lease term can range from 24 to 60 months. If you plan to use the asset for a longer period, buying it outright might be more cost-effective.
  2. Avoid signing a lease contract that exceeds the life expectancy of the asset. For example, signing a 5-year lease for a computer that becomes outdated after 3 years is not ideal.
  3. If your business is seasonal and you only need extra assets during specific times of the year, leasing might be a better option.
  4. Factor in potential upgrade and maintenance costs. Leasing the assets might be preferred if you anticipate frequent upgrades or maintenance, as these costs will be covered by the lease provider.
  5. Consider potential tax benefits of ownership. If the assets belong to your business, you can claim depreciation, tax, and other benefits. Leasing does not offer these tax benefits.
LOOKING TO APPLY FOR ASSET FINANCE? HERE'S WHAT YOU NEED TO PREPARE!

For vehicle and equipment loans up to $150,000, low-doc approval is possible based on the submission of the following documents: 

  1. Last 6 months bank statements.
  2. Details of the asset to be purchased.
  3. Asset liability statement.
  4. Valid identification proof of the business owner.

For vehicle or equipment finance exceeding $150,000, you may need to provide the following additional documents: 

  1. Financial statements
  2. Rates notice (if you own a property)
WHAT KEY FACTORS DO LENDERS CONSIDER WHEN PROVIDING FINANCING FOR AN ASSET?

Lenders typically assign varying degrees of importance to different types of assets to be financed, taking into account the associated risks. Here are the categories of assets: 

Primary assets: small trucks, buses, yellow goods, trailers, and caravans 

Used assets: Vehicles that have been in use 

Secondary assets: Machinery, construction equipment 

Tertiary assets: Office equipment and fit-outs

POTENTIAL TAX BENEFITS FOR FINANCING ASSETS THROUGH DIFFERENT MODES OF FINANCING

Each finance structure for asset financing offers varying ways to claim tax deductions. Depending on the type of financing you choose for your asset, you may be eligible to claim depreciation, interest, or lease payments. 

Chattel Mortgage:

You can claim the interest payment for financing the loan, as well as the depreciation on the assets since you immediately become the owner of the asset at the beginning of the finance. 

Hire Purchase:

As you only become the owner of the asset after making the final payment, you won’t be able to claim depreciation. However, you can still claim the interest cost associated with financing the asset. 

Finance Lease:

Both operating and finance lease payments are fully tax-deductible. Nevertheless, as you are not the owner of the asset, you won’t be able to claim the depreciation cost. 

As each finance structure offers different methods for claiming tax deductions, we recommend seeking independent tax advice to determine the most suitable finance structure for your business.

Why choose us?

We understand the importance of earning your trust in the guidance provided by the asset and equipment finance experts at VOXFIN. We can assist you with all types of asset and equipment finance as well as other financial lending needs, such as home loans, refinancing home loans, car loans, commercial loans, and insurance.

Additionally, we can assist with organising financing to start or grow your business and fund your assets.

About Us

Expert asset and equipment finance brokers at VOXFIN are here to help you with all types of your business asset and equipment loans.  We simplify the loan process and provide the right information and guidance so you can make sound investment decisions.

We assist Australians throughout the nation. We work with over 35 lenders in Australia to bring you the best loan option with the lowest interest rate.

About Us

Australians have trusted us as expert home loan mortgage brokers for all types of their loans and mortgage needs such as first home buyer loans, refinancing home loans, agribusiness loans, business loan brokers, commercial loan brokers, car loan brokers, asset and equipment finance brokers, SMSF property loans, property development finance brokers, business car loan brokers, bad credit score lenders, medical professionals’ loans, personal loan brokers, and many more to help them find the suitable loans to finance their property dreams.

About Us

Get a Free Consultation

info@voxfin.com.au

0370652000|0435393623

We promise to guide and enable you by putting together strategies that will work in your best interest as a business to grow. As expert asset and equipment finance brokers at VOXFIN, we’ll ensure business loan flexibility, minimum documentation loans and tailored financial solutions for all your asset purchase financing needs. 

We’ll guide you at each step of your business finance journey and deliver outcomes to meet your business financing needs. We work hard for you with honesty, transparency and genuineness so that we can build a long-lasting professional relationship.

 

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