We’re looking to buy not hire heavy vehicles. Is Rent-to-Buy finance for purchase or hire?

Rent-to-Buy or Operating Lease is an asset acquisition credit facility for the purpose of acquiring assets such as heavy vehicles. It is not a hire agreement.

Will the payments on my Operating Lease be a tax deduction?

Monthly operating lease payments are a tax deduction as a business expense.

I’m a sole trader wanting Rent-to-Buy truck finance, but I’m not registered for GST. Is that a problem?

To be eligible for commercial finance, businesses do not have to be registered for GST.

Can Rent-to-Buy be used to finance all types of heavy vehicles?

As an asset acquisition credit facility, Rent-to-Buy can be used to finance all types of heavy vehicles, new and used, with all fuel systems.

What does off-balance sheet mean?

Off-balance sheet refers to goods financed under a certain credit facility not having to be posted to the balance sheet of the borrower.

What happens at the end of the Rent-to-Own Truck loan term?

At the end of a Rent-to-Own term borrowers can opt to return the vehicle to the lender or pay the buyback to take ownership of the vehicle.

If the lender has ownership with Rent-to-Own finance, who is responsible for costs such as rego, insurance and servicing?

While the lender has ownership of a vehicle during an operating lease term, the borrower is responsible for all expenses such as insurance, rego and servicing.

Can I include the full purchase price of a vehicle in Rent-to-Own financing?

No deposit Rent-to-Own truck loans are available. Approval is subject to individual lender guidelines.

When will own my truck if I finance with Rent-to-Own?

When a borrower pays the buyback to the lender at the end of a Rent-to-Own term, they receive full ownership of the vehicle.

Is Rent-to-Own a better loan than Chattel Mortgage?

In selecting which is the best lending product, operators should consult with their accountant. Factors to consider include accounting method, tax approach, balance sheet strategy and financial objectives.

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Convenient End of Rent-to-Own Truck Loan Term Options

While the lender holds title ownership to the vehicle during a Rent-to-Own Truck Loan, the borrowing business has options at the end of the term to own the vehicle. The borrower can pay the lender what is known as the buyback, or they may relinquish ownership and use of the vehicle – handing it back to the lender. A buyback is due as lump sum payment but may be refinanced through Easy.

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Our streamlined application system, supported by a very personal approach from our experts, makes it easy for operators to apply for Truck Operating Leases from anywhere in Australia. Details on the business, the required documentation and details of the vehicle being purchased can be upload via our convenient online portal.

Our experts quickly source quotes and on acceptance of offers, process applications for fast approvals and prompt settlement. The entire process is straightforward and designed to provide convenience and efficiency in securing Rent-to-Own Truck Financing quickly to support operators across Australia, in all industry sectors. Apply now!

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