Equipment Finance
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Business Equipment Funding
Let’s talk about equipment finance.
Most businesses need to purchase vehicles, plant or equipment at some point. It’s not always feasible to pay cash, so many businesses rely on access to funding their purchase.
It’s important to have the correct funding structure to suit your business and may be a good idea to seek the relevant tax advice before signing.
At Fox we have access to a range of equipment finance Perth solutions, with low interest rates and fast turnaround times.
Get in touch today to fund your next purchase.
Finance Lease
A finance lease is a form of rental agreement operated by a finance company which allows you to lease equipment for an agreed term and a predetermined regular rental amount. The goods remain the property of the finance company but you benefit from the fact that the rental payments are tax deductible. All the equipment leased must be employed in producing assessable income. At the end of the lease you can make an offer.
A residual value is set by the finance company to reflect the equipment’s value and depreciation at the end of the rental term at which time you can either extend the lease, return the equipment in good condition, purchase it or trade it back in for an up-to-date replacement.
Hire Purchase
Hire purchase is another form of rental agreement, but differs from a finance lease because, as soon as the last payment is made, ownership of the equipment automatically transfers from the finance company to you.
This form of equipment acquisition can save you money in a number of ways. You can pay a deposit upfront to reduce your monthly payments or pay less monthly and a balloon payment at the end of the term. You’ll have time to save the balloon payment amount during the hire purchase period. You may be able to claim a tax deduction on depreciation and interest payments.
Chattel Mortgage
A chattel mortgage is essentially a charge over goods yet to be financed. It allows businesses who operate a ‘cash accounting’ system to immediately claim the full input tax credit from GST-incurred expenses.
At Fox we have access to a range of funding solutions,
We will be there to guide you through the whole process of Equipment Finance, whether you are looking for finance lease, hire purchase or a chattel mortgage.
Get in touch now to book your appointment with a Fox Finance Broker.
EXCELLENT182 reviews on
Sue Garrood4 April 2024Top Line Professionalisim. The team at Fox Mortgages were faultless from start to finish. This was my first home purchase & Paul took all the time I needed to talk & help me through every stage answering every small question & query. What I thought was going to be the impossible they made possible for me. Could not fault a single step with the whole team. Communication didnt stop when purchase went through either, the follow ups & check ins show they genuinely want to make sure your off to a good start & can go back at any stage for advice at any stage. Great experience, awesome team could not recommend them any higher!!!!Tania P25 March 2024The team at Fox Mortgage Services are the best mortgage brokers ever! Nothing was too much trouble, the process was so easy and they were so wonderful to deal with, even though we weren’t the easiest of clients! Thanks Paul and the team, you are amazing. 🤩Jonathan20 February 2024Great service efficient painless process. Thank you.Jo Larvin20 February 2024Very helpful and friendly, we had some quirks in our application and they were very responsive at helping to resolve and making sure we got our mortgage. We were so impressed, we went back a second time for another property, and will go back for any future purchases.Ben McGee19 February 2024Paul fox review . Great at his job, provided excellent service to me and my brother for are first mortgage. Professional, friendly, smart / well educated in the industry and very good to work with, thank you Paul and everyone at team Fox.Brent Gordie19 February 2024Very helpful from start to finish.all under controlTeri Hayes4 February 2024Had our free appointment with Paul. He was great to deal with and super honest. We came away with a strong understanding of where we are at financially and where to next. Couldn't have been happier with the consultation. We felt Paul was very knowledgeable, not at all pushy and definitely encouraged us to go for the best deal for us regardless of any benefit to himself. All on a Saturday to fit in with our work commitments. Would highly recommend.Melissa Bishop27 January 2024Highly recommend . We were recommended Fox Mortgage Services through a friend. We are so happy with their services. They were professional and patient with us as we refinanced our home. They kept us informed at every stage of the process and made it easy and simple for us. Would highly recommend Paul and his team.Tepora Puha11 January 2024Such an amazing team. I personally have dealt with Naomi and she is amazing. Communication is 2nd to none and then get from Paul, they appreciate and treat everyone well. Thanks you Team Fox. I highy recommend Fox Mortgages and happily let my friends know.
