Equipment Finance Adelaide

If you’re searching for the best rates on equipment finance, Adelaide customers can find a range of options via Savvy
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Last updated on May 5th, 2022 at 11:39 am by Bill Tsouvalas

Equipment finance Adelaide

Options for equipment finance in Adelaide

Whether you’re trying to get a new business off the ground or you’re looking to upgrade tools or machines for an established one, having the right equipment finance in place can save you many thousands of dollars. We know you can’t afford to stop providing value and service – and you work hard all hours. That means flexible solutions that work the way your cash flow does. It demands fast, convenient options when you need to expand operations or replace kitchen equipment in a hurry – and that’s where Savvy comes in. For equipment finance, Adelaide customers can discover a broad selection of offers and products, plus get help with applications.

How Savvy helps business owners

We work across all sectors, so from coffee machines for cafes to excavators for civil engineers, Savvy helps thousands of Australian businesses find the finance they need each year. We partner with a larger, more specialised panel of lenders so we can source solutions and tailor options to your specific business and requirements. Our expert equipment finance brokers will do all they can to match you with a finance provider that knows the nature of your business and delivers cost-effective methods for buying the equipment you need to meet your goals. When it comes to equipment finance Adelaide and South Australia are covered with Savvy.

Plant & machinery finance

Equipment finance Adelaide: How does it work?

Every business out there is different. That means operating in a diverse range of sectors, servicing a broad selection of clientele – both B2B and B2C, and having differing needs for equipment, machinery, electronic devices, appliances, and vehicles.

Depending on your equipment finance needs, our expert commercial finance consultants are on hand to help you navigate the process with as little disruption to your working day as possible. You can choose from the significant tax and GST benefits of a chattel mortgage, with its cost-effective interest rates and flexible repayment periods running between one and seven years. Your business claims depreciation and you can use a trade-in, a cash deposit, opt for 100% equipment finance, and use a residual amount to manage monthly costs. Your business can also claim back all the GST on equipment as soon as you file a BAS. There’s zero GST on regular repayments or any residual amount, and interest on repayments is 100% tax-deductible

If you’d rather outsource disposal, maintenance, and ownership risks, you might want to consider an operating lease, which runs for anything between twelve and sixty months and offers two different end of lease options. You have no obligation to buy when the lease ends, but you can choose to make an offer for the equipment at that time. You can also choose to return the equipment and source new finance if you’d like to upgrade again. If you’re buying serviceable equipment like vehicles or machinery, operating leases give you the option of bundling costs like registration, servicing, and maintenance into the repayment structure.

Finance leases are slightly different. With a finance lease, the lender buys the equipment you need on your behalf, and your business makes fixed payments during an agreed term (between one and five years). The main difference between a finance and operating lease is there’s a residual and therefore, an obligation to buy when the finance lease ends. That means every payment your business makes builds equity in the asset being financed.

With both lease options, entire repayments may be fully tax-deductible (when the equipment is used 100% for business purposes.) The total finance amount gets based on the ex-GST price of equipment and vehicles.

Why do businesses choose Savvy?

Common equipment finance questions answered

How long will my application take?

Depending on the nature of the transaction and your business details, it can vary, but most asset finance is quick to arrange. Savvy provides a dedicated commercial finance consultant who’ll stick with you from start to finish. We’ll base most of your application on an initial chat and you can upload any required documentation easily. After that, we’ll only bother you when necessary and liaise with your lender for you. Our expert brokers are there primarily so you can get on with business and et the finance sort out itself.

How does low doc equipment finance work?

Low doc finance is used by business owners if they’re short on the paperwork required for a standard asset loan. Some finance providers will consider alternative documentation, the financial strength of your business, and even personal guarantees instead. If your financials aren’t quite up to date and you need equipment finance, we have options available.

How does Savvy find me the best equipment finance interest rate?

We’ll only advise about the most interest-friendly products and lenders, but we also look to source financiers that prefer to operate within your specific sector – meaning it’s likely the equipment you need is viable. Lenders often either refuse to buy specialist equipment or hike up rates to counter perceived risks associated with disposal of assets. We avoid that by leveraging our relationships with a diverse selection of finance providers.

Am I better off with a loan or a lease?

It’s a good idea to talk to both a Savvy commercial consultant and your accountant before making this decision. Both will take several factors into account before recommending one solution or another.  Tax is one – and it’s likely you’ll need to do some modelling to figure out which product works best. End of term disposal risks also influence many asset finance decisions and some businesses may opt for a lease to avoid that.

Where can I purchase used equipment with commercial finance?

When they need equipment finance, Adelaide businesses can buy from either a dealership or a private seller. They can also purchase both new and used equipment using a chattel mortgage. As with any commercial secured finance, you’ll need to have an invoice to show the lender, and they may also need to perform a valuation and see a PPSR certificate.