Comparison Table of Products


 Consumer LoanCommercial Hire PurchaseFinance LeaseNovated LeaseChattel MortgagePersonal Loan
DefinitionFor individuals who want to buy a
car/boat/ bike not for business purposes. You own the asset from the
start of the loan.
You (the ‘hirer’) possess the
right to use the asset in return for regular payments. When the
final payment is made the title of the asset is transferred to you.
You pay a series of rental payments.
At the end of the term, you have the option the purchase the asset at
the residual value.
A three way agreement between employer,
employee and lender. This allows employees to purchase from their pretax
salary via the employer.
You get ownership of the asset from
the start of the contract, with us able to secure the loan by registering
a charge over the goods.
Loan for non business use that is
usually unsecured.
Loan PurposeCar, boat, bike, truck, caravan, trailers,
other
Car, boat, bike, truck, caravan, trailers,
other
Car, boat, bike, truck, caravan, trailers,
other
Car, boat, bike, truck,
caravan, trailers, other
Car, boat, bike, truck, caravan, trailers,
other
Debt consolidation, home renovations,
car (older), travel, other
Loan Term1 – 7 years1 – 7 years1 – 7 years1 – 7 years1 – 7 years1 – 7 years
Loan Amount$5,000 – no maximum$5,000 – no maximum$5,000 – no maximum$5,000 – no maximum$5,000 – no maximum$4,000 – $50,000
Age of AssetNew up to 7 years oldNew up to 7 years oldNew up to 7 years oldNew or ex demoNew up to 7 years oldVariable
DepositOptionalOptionalNot availableOptionalOptionalOptional
Repayment options- weekly
- fortnightly
- monthly
- Irregular

Repayments can be made in advance or in
arrears.
- weekly
- fortnightly
- monthly
- Irregular

Repayments can be made in advance or in
arrears.
- weekly
- fortnightly
- monthly
- Irregular

Repayments can be made in advance or in
arrears.
- weekly
- fortnightly
- monthly
- Irregular

Repayments can be made in advance or in
arrears.
- weekly
- fortnightly
- monthly
- Irregular

Repayments can be made in advance or in
arrears.
- weekly
- fortnightly
- monthly
- Irregular

Repayments can be made in advance or in
arrears.
Interest RateFixed for the life of the loan.Fixed for the life of the loan.Fixed for the life of the loan.Fixed for the life of the loan.Fixed for the life of the loan.Fixed for the life of the loan.
Balloon / ResidualOptional subject to application.Optional.Residual required. Minimum set by
ATO.
Residual required. Minimum set by
ATO.
Optional.Not available.
Tax benefitsYou may be able to claim some depreciation
and the interest component against your taxable income, depending on
the percentage of business use.
Interest component of the payments
is tax deductible.
Rental payments are fully tax deductable
if asset is being used solely for the purpose for earning an assessable
income.
Numerous tax benefits to the employer.You may be able to claim some depreciation
and the interest component against your taxable income, depending on
the percentage of business use.
Not available.
GSTGST is payable only on the initial
purchase and can be included in the amount financed.
GST is payable only on the initial
asset purchase and can be included in the amount financed.
If you hold an ABN and you account
on a cash basis GST is amortised over the life of the contract and you
may be able to claim an Input Tax Credit each month or quarter.
There is no GST payable on the initial
asset purchase. GST is payable on the rental payments over the life
of the contract and on the residual amount.
If you hold an ABN you may be able
to claim the GST as an Input Tax Credit each month or quarter.
There is no GST payable on the initial
asset purchase. GST is payable on the rental payments over the life
of the contract and on the residual amount.
If you hold an ABN you may be able
to claim the GST as an Input Tax Credit each month or quarter.
GST is payable only on the initial
purchase and can be included in the amount financed.
If you hold an ABN you may be able
to claim the GST as an Input Tax Credit each month or quarter.

No GST is payable on the repayments,
balloon payment or term charges.
GST is payable only on the initial
purchase and can be included in the amount financed.

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