Approved RV Loans Funding Methods

Approved RV Loans offers customers a variety of different funding methods to best suit their individual requirements and situations. Please see below for more information on the available options for your Leisure Vehicle Finance.

Novated Lease | Chattel Mortgage | Finance Lease | Hire Purchase

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Novated Lease

A Novated Lease is a popular way for individuals to finance goods in a tax effective way. The facility is a 3-way agreement between employee, employer and finance company so you will need the assistance of your employer to access this facility.

Features:

• An individual can choose a vehicle that suits their needs ie; sedan, wagon, 4x4, new or used.
• Repayments are deducted from the employee’s salary package in pre-tax dollars so your taxable income is reduced.
• A novated lease is the same as a standard lease, however your employer makes the repayments on your behalf.
• If you leave your employer for any reason, you can simply continue the repayments yourself or negotiate a new novation agreement with your new employer.
• At the end of the lease period the employee retains any equity built up in the vehicle.
• Private sales OK.

Chattel Mortgage

The Chattel Mortgage facility is a popular choice when financing vehicles/goods that are predominantly for business use.

Features:

• The financier has security over the goods being financed.
• You retain the title or ownership of the goods.
• The maximum loan term is five years, however payments can be reduced by way of a balloon payment at the end of the five year term.
• No deposit is required for approved purchasers.
• Use this product to free up working capital and other facilities such as overdrafts and equity in property.
• Private Sales OK.

Finance Lease - Equipment Lease

A finance lease can be a tax effective way of financing "business use" items.

Features:

• The financier has title or ownership of the goods for the term of the lease or until the residual has been paid, therefore the borrowing becomes an "off balance sheet" transaction.
• The maximum lease term is five years.
• A lease agreement must have a residual value to be paid at the end of the lease term.
• The residual value must represent the estimated value of the goods at the end of the lease. ATO guidelines apply in this instance.
• There is no deposit required on a finance lease.
• The first lease rental can be up to 25% of the purchase price, resulting in lower rentals for the remainder of the lease term.
• Use this product to free up working capital and other facilities such as overdrafts and equity in property.
• The Financier retains ownership of the goods until the loan is paid out or the last payment is made, at which time title passes to the borrower.
• Private sales OK.

Hire Purchase

Hire purchase is another viable option for business use clients.

Features:

• The financier has security over the goods being financed.
• The maximum loan term is five years, however payments can be reduced by way of a balloon payment at the end of the five year term.
• No deposit is required for approved purchasers.
• You can free up your working capital and other facilities such as overdrafts and equity in property.
• The Financier retains ownership of the goods until the loan is paid out or the last payment is made, at which time title passes to the borrower.
• Private sales OK.

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Approved Loans Group

"Approved" isn't just limited to Equipment Finance, we also specialise in many other areas of finance! Visit the sites below for more great deals: