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.
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 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.
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, with low interest rates and fast turnaround times
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.
How Can We Help You?
What Our Clients Say
I can’t recommend Rebecca from Fox Mortgage Services highly enough! From the moment that I contacted Bec to help me purchase my first house, she always gave me a mountain of information and went through all the options. Always an absolute pleasure to deal with – even when I rang her while she was on holiday! She follows everything to the very end and always makes time to help with any queries. I’ve already recommended her to everyone that I speak to about my place and my folks are going to re-mortgage through Bec in the near future. Thank you!
Elise & Stephen, Stratton, WA
Paul has been an outstanding mortgage provider with on point advise and fantastic communication skills. He explained everything in advance with more than enough examples so i could make educated decisions with ease. I was given the sound advice I required to make the decision that best suited my needs and was supported by Paul along the way. Paul took charge and worked diligently with the bank of my choosing to secure a great deal and handled the day-to-day correspondence whilst keeping me updated. I was very lucky to work with Paul and look forward to more business in the future together.
We’d like to thank Fox Mortgages for all their help in securing our first home!! Paul and Bev are amazing! They were effortless in answering all our questions and explaining everything simply so the process wasn’t overwhelming or stressful!! Will be recommending them to everyone we know!! Thank you again Paul and Bev we are so grateful for all that you have done!! Fox Mortgages are the Best!!
Bec you were absolutely amazing. Thank you so much for all your help and guidance. You listened to all my needs and found me a mortgage that suited me perfectly. I would recommend you in a heartbeat .10/10 thank you so much for making it all so easy xxxx
Zen M, Leederville, WA
We would highly recommend Fox mortgage services to anyone looking to navigate the finance market. Beverley looked after us and was so professional and helpful. Nothing was too much trouble and she went above and beyond to ensure that our affairs were handled efficiently. If you want a broker you can trust to look after your interests and find the best deal for you, these guys won’t disappoint. Thank you so much.
Cathy, Secret Harbour
I was very impressed with the results Paul and everyone involved helped me achieve! In the end that’s what counts. Paul always manages to get a better deal than anyone else can! There has been a lot happening in the loan market and he seems to be able to navigate smoothly and quickly to secure a great deal each time. Paul is very experienced and easy to deal with and I would be happy to work with him again.