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Other Asset Finance
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Financing new vehicles, machinery and equipment purchases
Many businesses need to make significant investments in assets such as vehicles, machinery, IT systems, and tools, which can be expensive. However, asset financing can be complex and requires a thorough understanding of how it will benefit the business and how the business will be able to repay the liabilities. The lengthy list of requirements can often overwhelm businesses seeking funding to improve their productivity, which can lead to hesitation and hinder their growth.
There are several types of business asset finance available in Melbourne, including hire purchase, chattel mortgage, and leasing. Hire purchase allows businesses to purchase the asset and make repayments over a fixed term, while chattel mortgage is similar but with ownership of the asset transferring to the business upon purchase. Leasing, on the other hand, allows businesses to rent the asset for a fixed period, with the option to purchase it at the end of the lease term.
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- Other Car & Equipment Finance