Chattel Mortgage
Purpose Provides finance for companies and business professionals to purchase goods such as motor vehicles, trucks, earthmoving, industrial plant and professional equipment, which are for business use more than 50% of the time.
How it works You take ownership of the goods upon delivery and eCarLoans secures the loan by registering a charge over the goods.
Product Benefits
Minimal capital outlay You own the goods your business needs without paying for them up-front with eCarLoans Chattel mortgage. So you can put your day-to-day cash flow to better use.
Tax deductible A Chattel mortgage may provide tax benefits if the financed goods are used to produce assessable income. Speak to your accountant for further information about tax benefits.
Goods and Services Tax (GST) As you take ownership of the goods at delivery, you may be able to claim all or part of the GST as an input tax credit on your next BAS (Business Activity Statement). Please check with your accountant or tax advisor for their advice and your eligibility.
No deposit 100 per cent finance is available to approved customers, so you don’t have to tie up your day-to-day cash flow.
Seasonal payments Repayments can be tailored to suit seasonal cash flow. You can also arrange to make a balloon payment at the end of the loan to reduce repayments throughout the term.
Early repayment You have the flexibility to repay the contract in full before the term ends.
Interest rates Your new equipment acts as the security for the loan, so we can offer you a competitive interest rate, which will be fixed throughout the life of the loan.
Obtain a quote To obtain a quote simply go to our "contact us" icon found at the top of each page and either send a short note via email, fax or call our Customer Service team on 1800 677 113
Apply online If you’re ready to apply, simply complete our online application via our "apply online" icon found at the top of each page.
Product Features
Term One to five years.
Loan amount $10,000 and upwards.
Repayment frequency Monthly, quarterly, semi-annually, annually, seasonally or irregularly.
Repayment methods Direct debit and periodical payment from a nominated bank account, BPAY® and cash/cheque deposits via a cash booklet.
Lease
Purpose Available for companies and business professionals to allow them to use business goods such as motor vehicles, trucks, industrial plant, professional or earthmoving equipment.
How it works eCarLoans purchases the equipment or vehicle you require and then leases the goods to you. You then enjoy the use of the vehicle or equipment for an agreed time in return for a series of rental repayments.
You can finance the outlay you’ve already made for goods purchased in the last twelve months.
What is the lease agreement? The lease agreement sets out the:
residual value of the goods
term of the lease in months
monthly rental
depreciation rate
When the lease expires You can choose to:
Return the equipment to eCarLoans who can sell it in the market place (you would need to make up the shortfall if the net sale was less than the agreed residual value)
Take up any invitation that we may give you to purchase the equipment
Product Benefits
No initial cash outlay eCarLoans finance lease gives you immediate access to the goods your business needs without a capital outlay so you can put your day-to-day cash flow to better use.
Negotiate your payments and residual value Within an approved range allowing more flexibility in budgeting.
Flexible terms Match your finance to the length of time the asset is required – from one to five years.
Seasonal payments Tailor the repayments to suit seasonal cash flow. You can also arrange to make a balloon payment at the end of the loan to reduce repayments throughout the term.
Tax deductible Rental Payments are fully tax deductible if the equipment is used solely for earning assessable income. Speak to your accountant for further information about tax benefits.
Free up other valuable assets The equipment being purchased is normally sufficient security for the finance – your other business assets are not required as security.
Interest rates The rentals are fixed throughout the life of the loan.
Obtain a quote To obtain a quote simply go to our "contact us" icon found at the top of each page and either send a short note via email, fax or call our Customer Service team on 1800 677 113
Apply Online If you’re ready to apply, simply complete our online application via our "apply online" icon found at the top of each page.
Product Features
Term One to five years
Loan amount $10,000 and upwards.
Repayment frequency Monthly, quarterly, semi-annually, annually, seasonally or irregularly.
Repayment methods Direct debit and periodical payment from a nominated bank account, BPAY® and cash/cheque deposits via a cash booklet.
Other details The residual value of the leased goods is established in accordance with a schedule issued by the Commissioner of Taxation.
Lease rentals are usually tax deductible if the leased goods are used to produce assessable income.
Novated Lease
Purpose For employees who have the option of receiving a car as part of their salary package. The employer pays all rental payments to eCarLoans and the employee enjoys full use of the motor vehicle.
How it works The employee chooses a car and leases it from eCarLoans. The employee then novates the lease to their employer, who assumes all the employee’s rights and obligations under the lease, including responsibility of meeting the lease rentals. The contract is in the name of the employee who remains the registered owner throughout the lease and keeps effective control of the vehicle at all times.
If the employee leaves the company, the vehicle remains with the employee. In this situation generally the employee takes over the payments or gets another employer to make the payments. This means, the original employer is not left with an unwanted car and the employee keeps the vehicle.
Product Benefits
Benefits for employees Use of the vehicle without having to budget for the repayments.
Option to buy the vehicle without a deposit or the hassle of being reimbursed from your employer.
Complete choice about what car you buy and where you buy it from.
Retain the car even if changing employment.
Benefits for employers If the employee leaves, the company is not left with an unwanted car.
The employer can provide the employee with a car without having to reflect it on its balance sheet.
Interest rates The rentals are fixed throughout the life of the loan.
Obtain a quote To obtain a quote simply go to our "contact us" icon found at the top of each page and either send a short note via email, fax or call our Customer Service team on 1800 677 113
Apply online If you’re ready to apply, simply complete our online application via our "apply online" icon found at the top of each page.
Product Features
Term One to five years
Loan amount $10,000 and upwards.
Repayment frequency Monthly, quarterly, semi-annually, annually, seasonally or irregularly.
Repayment methods Direct debit and periodical payment from a nominated bank account, BPAY® and cash/cheque deposits via a cash booklet.
Loans for Personal Use
Purpose Provides finance to individuals to purchase new and late model used cars, light commercial vehicles and boats for personal use.
How it works You take ownership of the goods at delivery and eCarLoans secures the loan by registering a charge over the goods.
Product Benefits
Fast Approval Apply today and we’ll let you know whether your loan has been approved, usually by the next business day.
No annual fees No annual or account-keeping fees to pay.
Match your budget Choose a repayment timeframe to suit your budget, from one to five years.
Fixed repayments Rates are fixed so you’ll know exactly what your repayments are.
No deposit Use your cash for other things because 100 per cent finance is available to approved customers.
Registration, insurance and on-road costs can also be included in the loan if you are purchasing your car from an approved dealer.
Interest rates Get one of the most competitive rates in the market because your car acts as the security for the loan.
Obtain a quote To obtain a quote simply go to our "contact us" icon found at the top of each page and either send a short note via emai, fax or call our Customer Service team on 1800 677 113
Apply online If you’re ready to apply, simply complete our online application via our "apply online" icon found at the top of each page.
Product Features
Term 1 to 5 years.
Repayment frequency Fortnightly or monthly.
Repayment methods Direct debit or periodical payment from a nominated bank account, BPAY or cash/cheque deposits via a cash booklet.