Best for

This loan type will suit those who have substantial business use and plan on claiming a predominant portion of the car usage for tax purposes. If you use your car to attend meetings with customers, clients, and business partners away from the office, run your own business, pick up materials or make deliveries as a significant function within your job then a commercial loan may suit you best.

Fixed repayments

Yes, monthly.

Repayment period

Usually 12-60 months (1-5 years)

Deposit

Optional.

Who owns the car

You own the car. The lender will hold a financial interest over the vehicle until the loan is paid in full.

Repayment options

A direct debit is setup so you’ll never miss a payment.

Residual (balloon) options

You can nominate an amount to pay at the end of the loan to reduce your repayments throughout the term. The residual amount available will depend on the loan term and vehicle age.

Car Loan Terms

Commercial Loan

If your vehicle is essential to your job, this loan may be right for you.

Discuss the use of your vehicle with your employer or accountant, you may be eligible for certain tax deductions.

Your ACFC broker needs this information to help get you started.

For employees

  • A recent payslip (no older than 30 days)
  • Current driver’s licence
  • Proof of car/vehicle allowance if you receive one
  • Rates notice, if you own a property

For the self employed

  • A recent Tax Return and Notice of Assessment or Business Financials
  • Current driver’s licence
  • Rates Notice, if you own a property
  • A previous tax return showing you have claimed 51% or more business usage

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