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Car Lease Australia – Vehicle Leasing

Car Leasing Specialist

 

Brokers ink finance gives you access to the best financing options in Australia. We also offer all our clients the lowest car loan rates and we guarantee to beat any written quote, from a car dealer, bank or finance broker.

 

What is a Car Lease

A vehicle lease is a rental agreement where the finance provider, purchases the motor vehicle on behalf of the customer, who in turn pays the financier a fixed monthly rental amount, for the term of the car lease.
After the final payment has been paid. You the customer have the option of extending it, starting a new one with a new car or paying it out and owning the vehicle outright.
A car lease is also known as a auto lease, vehicle lease or asset lease.

 

How does a Car Leasing work

The lessor obtains legal ownership of the motor vehicle to be leased. Paying the amount as advised on the (vendor’s) supplier’s invoice. The lessee then has the use of the car and pays rent for that use for the term of the car lease contract. During the term of the vehicle lease agreement, the lessee merely pays rent and does not obtain ownership or equity in the car they are leasing. Under a car lease agreement the lessee is responsible for maintenance and running costs, car insurance and registration fees for the leased item.

 

Car Leasing features

Low establishment fees and monthly fees, no payout penalties.
Lease terms range from 1 to 5 years.
Interest rates are fixed for the term of the lease.
Monthly repayments are fixed for the term.
The monthly repayment maybe 100% tax deductible.
Residuals are set by the ATO and reduce your monthly repayments.
GST on the purchase price of the vehicle is claimed back by the finance provider on your behalf. This lowers the amount financed to the purchase price minus GST.
GST on the monthly repayments may be claimable on your BAS.

 

Car Lease taxation implications

If the amount to be financed is below the ATO depreciation limit, $57,180. You may claim the full lease rental as a tax deduction. Above the depreciation limit, it’s similar to a commercial hire purchase agreement where the interest and depreciation up to the motor vehicle’s value can be claimed.
GST will be charged on your monthly payments, however it can be claimed back on your Business Activity Statement (BAS) over the term of the vehicle Lease contract.
The monthly repayment or balloon amount is subject to GST.

 

Who does a Lease suit

A car lease suits someone who is going to use a motor vehicle predominately for business use, therefore this car financing product is used by companies, trusts, sole traders, partnerships and ABN holders.
Which car financing product is right for you.
Deciding on the right car loan option for your situation can sometimes be confusing. Hire Purchase, Chattel Mortgage, Novated Lease? are just a few of the car financing options, Brokers ink Finance can assist with your decision making and make the process simple and easy.

 

Why use Brokers ink Finance

The Brokers ink Finance will finance over 5 million dollars’ worth of equipment and car finance this year! Due to this volume and buying power, we can give our clients access to the best car lease finance rates and chattel mortgage products across Australia.

 

Need further information

If you require further assistance call one of our qualified car finance brokers now, either complete a quick enquiry form or call an experienced finance consultant on 1300 003 462 today.

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