CAR FINANCE
Global Capital Commercial is well-known for being Australia’s premier facilitator of commercial loans and capital acquisition. Our long-standing history in the industry of business loan facilitation means that there is no one better placed to help you with all your car finance needs.
A vast number of businesses require some form of company vehicle, whether it is a car, a truck, or even a fleet of automobiles, in order to carry out the daily tasks required by their business. At GCC, we can help you to acquire the car loan you need regardless of the size of the loan or your credit history.
Why Choose GCC for Your Car Finance Needs?
There are a number of companies out there to choose from when it comes to arranging for car loans, but GCC ranks much higher than its competitors for a number of reasons. When you work with GCC to acquire the facilities your business requires to function, you get
- A company that has decade’s worth of experience in the industry and that specializes in facilitating business related financial needs.
- Access to over 200 bank and private lenders across Australia, meaning that whatever your situation, we can help you find a lender who will work with you.
- A multitude of financial products to choose from, including low doc car loan and lease schemes.
- The expert assistance of a team of dedicated financial professionals who specialize in car finance loans acquisition.
- A customized facility, designed to suit your unique needs and budget.
- Rapid loan processing framework and approval times.
Primary Categories of Car Finance Loans
There are a large number of financial options available when it comes to arranging for car finance for your business, and the most common types of products are listed below. Your GCC loans specialist can help you find the ideal loan type for your needs.
- Commercial Hire Purchase: In this type of car finance, a lender extends a loan to the business owner for the purchase of a vehicle or vehicles by first purchasing those vehicles themselves. The lender then retains the title to the vehicles, but allows the business owner to have full use of the vehicles in return for a fixed monthly repayment amount. When the term of the contract is over and the loan has been repaid to the lender in full, the business owner is granted full legal title over the vehicles.
- Finance Lease: A finance lease differs little from a commercial hire purchase. As with a CHP, a motor vehicle lease is a facility wherein the lender purchases the required vehicles on the business owner’s behalf and then leases those vehicles back to them for a fixed monthly sum. The only difference between a CHP and a car lease is that at the end of a contract, the business owner has the right to either take full ownership of the vehicles or extend the facility contract.
- Chattel Mortgage: A chattel mortgage is a form of car finance wherein the lender loans the business owner the sum they require for the vehicle purchase. The business owner then buys the vehicles they need and takes full legal ownership. He then has to repay the lender the loan amount on a fixed repayment contract, using the purchased vehicles as collateral for the loan. Essentially, the lender holds a mortgage over those vehicles until the loan is fully repaid.
A Loan Facility for Everyone
At GCC, we understand that not everyone can meet the standard criteria required for a loan, which is why we offer a variety of types to choose from. Whatever the nature of your needs, we can find a lender who can help. Our main loan types, based on documentation requirements, are:
- Full Doc loans are designed for those borrowers who can prove their loan serviceability with at least two years’ worth of financial documentation and tax statements, as well as a solid credit history.
- Low Doc loans are available to those business owners who do not have two years of financial statements, but can nonetheless show a strong credit history. They also have to have been in business for at least two years and one of the company directors must have assets in the form of property.
- Nonconforming car loans refers to specialized facilities that are structured for borrowers who have a negative credit history and who cannot meet the two year financial requirements for serviceability.
At Global Capital Commercial, we have the knowledge and the expertise it takes to arrange the car finance you need regardless of your business requirements or financial situation. To learn more about our car finance options or to speak with a financial consultant, contact us 1300 353 926.
This website is brought to you by GCC Business Finance the leading facilitators of Business and Equipment Finance in Australia. Our unparalleled access to capital means that we are geared to find the most practical solutions for all your business finance needs quickly and efficiently.