Apart from the feel-good factor of buying a new car, purchasing a vehicle can also bring great tax advantages ? especially if you run a business.
The end of the financial year will be on us before we know it, so now is the best time to explore your vehicle options, including what type of vehicle finance will give you the best financial benefits.
Konnect Financial Services works with our client?s accountants to find vehicle and business equipment finance that delivers business owners tax savings and the best opportunity for business growth.
Financing a car can mean more than a vehicle loan. Konnect Financial Services can arrange vehicle finance including Chattel Mortgage ? where a finance company lends you money to buy a vehicle with you making regular repayments and may include a ?balloon? amount that must be paid at the end of the loan term. You own the vehicle when it is purchased with the finance company maintaining an interest in the car. At the end of the loan you own the car after paying out or refinancing the balloon amount.
Konnect can also arrange Finance Lease ? a finance facility that allows a lessee to acquire vehicles or equipment over an agreed term. Ownership of the goods financed remains the property of the financier. The lessee can offer to pay out any residual debt at the end of the term and acquire ownership of the assets purchased. Rental payments can be structured to suit the individual needs of the lessee with rental payments being tax deductable.
Providing vehicle finance is not the only way Konnect Financial Services can help your business grow. We also provide equipment finance to assist your business in buying the equipment you need to gain efficiencies within your business.
You name it, Konnect Financial Services can help you finance it. We can provide finance for:
- IT equipment, software and telecommunications
- Trucks, trailers and special purpose vehicles
- Forklifts, cranes and stock handling equipment
- Earth moving and construction equipment
- Agricultural equipment
- Office furniture and fitouts.
Don?t let a lack of capital hinder your business growth. Talk to Konnect Financial Services about your vehicle and equipment finance options by phoning 1300 515 695 or go to konnect.com.au.
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