Ownership

The financier purchases the goods and is the owner of the goods

GST

As the lessee, you may be entitled to claim GST credits for any GST included in the lease charges.

Amount Financed

Any Input Tax Credit available on the purchase of the goods is claimed by the financier and the amount financed is excluding the available credit. In the case of vehicles please note that available GST is only up to the Luxury Car Tax.

Deposits

Deposits cannot be made on a Lease contract. Structured bulk up front payments can be made however usually no more than 20% of the original cost.

Early Termination

Applies if the lease is paid out early. The calculation method for determining this varies depending on the lender and the product.

Final Payment

Residual Value. This is set as per tax guidelines based on an estimated life value of the goods and kilometre usage for vehicles. Prior to the end of the contract the financier will issue a letter detailing your options, which will usually give you the option to purchase the goods for the residual or refinance the goods.

Ownership

The customer (Borrower) is the owner of the goods

GST

If registered with an ABN, may be able to claim any Input Tax Credit available on the purchase.

Amount Financed

GST is included in the amount financed.

Deposits

Deposits can be made on this contract.

Early Termination

Applies if the chattel mortgage is paid out early. The calculation method for determining this varies depending on the lender and the product.

Final Payment

Ownership is retained by the borrower and any charges or encumbrances are lifted on final payment. The balloon value is flexible to meet usage, requirements and budgets.

Ownership

The Hirer purchases the goods through installment payments.

GST

If you are registered to account for GST on a non-cash (accruals) basis, you claim the full amount of your GST credit entitlement.

Or, if you account for GST on a cash basis, you may claim one eleventh of the principal component of each installment in the period in which you actually pay the installment

Amount Financed

GST is included in the amount financed.

Deposits

Deposits can be made on this contract.

Early Termination

Applies if the hire purchase is paid out early. The calculation method for determining this varies depending on the lender and the product.

Final Payment

As hirer you become the owner of the goods on the final installment The balloon value is flexible to meet usage, requirements and budgets.

Ownership

The financier purchases the goods and is the owner of the goods.

GST

As the Renter, you may be entitled to claim GST credits for any GST included in the lease charges.

Amount Financed

Any Input Tax Credit available on the purchase of the goods is claimed by the financier and the amount financed is excluding the available credit.

Deposits

Deposits cannot be made on a Rental contract. Structured bulk up front payments can be made however usually no more than 20% of the original cost.

Early Termination

Applies if the rental is paid out early. The calculation method for determining this varies depending on the lender and the product.

Final Payment

Several options are available to the renter, including return current equipment and upgrade to new equipment or continuation of contract for an agreed term