Business Car Finance
Business runs cars – get the support you need with a great car finance deal from Savvy.
Fact checked
Flexible business car finance to help you grow
Drive your business further
Small business, medium business, enterprises – all business can do better with lower rates on car finance and more freedom to choose. Savvy gives you the options to make the most of your investment in vehicles. We offer a range of car loan products, tailored to suit your needs. We source our car loans from over 25 of Australia’s top lenders to ensure you always drive your car with the best deal with fixed interest rates.
Hire purchases, chattel mortgages, and leasing
Savvy offers all the most popular and cost-effective car finance products on the market. Make a cash-flow neutral purchase with a chattel mortgage or hire purchase. Borrow more than the purchase price to pay for insurance or registration. Plus, you can claim the GST, interest, and depreciation. Add balloon payments to reduce monthly repayments.
Business car finance benefits you can experience with Savvy
Range of options on offer
We can help you get approved for an array of diverse finance types through our lending partners, such as chattel mortgages, car leases and hire purchases.
Tax benefits
Depending on the type of finance you choose, your tax deductions range from GST on purchase and interest on payments to 100% of the payment itself.
Low rates
Business car finance can often come with the lowest rates on the market, so we're partnered with a range of specialist lenders to help you save crucial funds.
Borrow 100% of your vehicle’s purchase price
If you’re looking to buy your car, you can be approved for financing up to its full price without having to pay a substantial deposit upfront.
Residual payments available
Residual payments can also be utilised on business car finance, in some case compulsorily, to help you reduce the cost of your car’s repayments.
Set your own payment schedule
You’ll get to choose whether to pay for your finance over a period of one year up to seven and on a monthly, fortnightly or weekly basis.
Finance new or used cars
Whether your car is brand-new or pre-owned, bought from a dealer or private seller, you can be approved for finance through one of our flexible lenders.
Other vehicles available
You’re not limited to cars, either: we can help you get approved for anything from trucks, aircraft, machinery or other business equipment.
We’re the savvy choice for business car finance
Same day approvals
Compare and save
100% finance
Tailored finance
Dedicated consultant
FBAA-accredited and informed
We’ve been working in vehicle financing for over a decade and have built a reputation as one of the most respected brokers in Australia.
What our customers say about their finance experience
Savvy is rated 4.8 for customer satisfaction by 3368 customers.
Which car finance options can I choose from?
Chattel mortgage
A chattel mortgage is the only type of business car finance whereby you own the vehicle from the start. It’s structured in much the same way as a secured car loan, with repayment periods extending from one to seven years. However, it enables borrowers to claim GST on the purchase of the car, as well as interest on their repayments and the vehicle’s depreciation.
Finance lease
Under a finance lease, your financier buys a car and leases to your business, with monthly costs charged to hire the vehicle. Up to 100% of these payments are tax deductible, with terms ranging from one to five years. At the conclusion of your loan, you can choose whether to:
- Buy the car by paying the residual out of pocket
- Trading in or selling the car to cover the residual and lease another car
- Refinance the residual and extend the term of your lease.
Operating lease
Operating leases work in much the same way as finance leases, except they don’t come with a required residual payment and instead enable you to hand the car back at the conclusion of the lease. On-road costs are also typically sorted for you and incorporated into your loan, making it more expensive than a finance lease, under which this isn’t the case.
Novated lease
Novated leases are very different, as they’re designed for employee use. Under this agreement, your financier buys the car and leases it to your business, who pays for it by taking the required amount out of your pre-tax salary (known as salary packaging).
This reduces your taxable income and enables you to claim running costs such as maintenance and insurance premiums without having to use it for business purposes. You’ll receive the same options as you would at the end of a finance lease.
Hire purchase
A hire purchase is ostensibly another type of lease, except it’s specifically designed for businesses who complete their accounting on an accrual basis, rather than cash basis. This means that these businesses record expenses or earnings at the point of transaction, rather than the receipt or release of payment. This enables them to claim the GST on the car purchase on their next BAS.
