Savvy knows that heavy plant and industrial equipment are investments in your business over the long term. We also know that getting the most out of your equipment may interrupt your cashflow as you wait and pay for repairs. That’s why we offer a range of equipment financing options that are easy to understand, fair and make the best of your current and future plans for equipment and mechanical resources.
Savvy can set up loans for new and used equipment without sacrificing your liquidity or cashflow.
We offer all the latest equipment finance packages and products. We offer hire purchases, operating leases and standard equipment loans.
If you only require short-term leases of equipment for a specialised product run or service contract, we can arrange operating leases to improve your cashflow. Talk to one of our expert financial professionals to arrange a consultation to see how equipment finance can work for you.
If you need to arrange finance for yourself or on behalf of your company, you can rest assured we are reaching for the best loans across Australia’s reputable lenders. We make sure all our loans are the most competitive you’ll find on the market.
Call or talk to one of our equipment finance professionals to get a free, no-obligation consultation.
|Lender||Product Name||Advertised Rate||Comparison Rate||Monthly Repayment|
|Savvy||Secured Equipment Loan|| 4.99% |
|BankWest||Business FeeSaver Loan - Res Sec|| 5.80% |
|BankSA||Business Loan Variable|| 6.78% |
|ANZ||Business Loan Variable - Res Sec|| 7.10% |
|Commonwealth Bank||BBL Var Non-Res Sec|| 7.81% |
* Commercial loan with the loan amount of $40,000 is looking at a 5 year secured fixed rate of 2.85% p.a. and comparison rate of 3.93% p.a.. WARNING: all fees and charges may not be included on the example above, only the comparison rates, monthly repayment and total cost applies. Therefore, the total cost of the loan might be different. Comparison rate do not include broker fees, redraw fees, early termination fees and fee waivers. Comparison rate may change as a result of the different loan terms, fees and the loan amounts. Establishment fees and monthly fees do not apply to commercial loans, only consumer loans. However, there might be different fees apply.
A chattel mortgage and a hire purchase are two sides of a business finance coin, so to speak: both are loan products that allow businesses to take possession of their equipment, write-off GST, depreciation, and interest, and even borrow more than the equipment’s value, to pay for insurance and other items. However a chattel mortgage means your business “owns” the purchases – i.e., they are on the books as your own assets. You then pay off the loan as you go. A hire purchase means the lender “owns” the asset, and you pay off this “lease” as time goes on. It depends on what kind of accounting method is best for your business, and what your goals are.
For a new business, saving money on startup costs can be counter-intuitive. Those who want to start “lean” may find their decision will cost them down the road. Buying a new truck means a longer life span, high reliability, more fuel economy, better safety features, less maintenance, and most important, higher resale value. A new truck could last a business years, even decades, if well maintained. Buying new does cost more up front, but with all businesses, it pays to think long-term. Though you may pay more for insurance, you might get a better deal on truck finance thanks to the lower risk involved with buying new.
When a business is expanding into a warehouse or larger premises, the need for a forklift or lift truck arises. However you should figure out if you need a smaller, electric powered forklift or one with an internal combustion engine, like a car. This might be restricted if it makes emissions and you are transporting foodstuffs. You need to know if your business will use it within a warehouse or loading trucks, and find a model that satisfies these needs. Also, buying new may be tempting; but market trends can change. You should figure out if leasing or hiring is a good option. At any rate, you should factor in the lifetime value of your forklift; how much insurance, special training, fuel/electricity, and maintenance will cost over its lifespan.
Moore’s Law, coined by computer scientist Gordon Moore says that computer power roughly doubles every eighteen months. With that in mind, how can one long-term lease or finance information technology without running into massive depreciation? Luckily, Moore’s Law has slowed somewhat, thanks to cloud based computing and modest requirements for productivity software. When it comes to IT financing, you may require leases that allow flexibility for innovations in your industry. A rolling lease might give you new equipment on a fixed term, so you aren’t spending capital on acquiring essential technology and losing out on massive depreciation.