5 ways to improve the financial position of your business.
What You Might Not Know About Your Business As a business owner, you’re familiar with most aspects of your business.
Menu
Menu
A vehicle finance refers to a loan, usually secured against the vehicles (car, truck, ute, etc.) and is paid monthly over a term, usually between 3 and 7 years.
There are several options you can choose from for your vehicle finance, namely:
Nina and Carlos are opening a food truck business on the Sunshine Coast. They have little capital, so they need the monthly repayments to be minimal, at least in the first 2 years while they establish their business.
The total cost of the truck is $50,000.
Nina has a Permanent part time position and Carlos has 2 years of financials having worked for himself.
The truck was financed over 5 years with a 20% balloon payment at the end under a chattel mortgage. This allows lesser monthly payments of $823 per month (6% comparison rate), and a final repayment of $10,000 after 5 years. They opted for this balloon payment as they estimate this would be the residual value of the vehicle after 5 years. Legally they own the truck from Day 1 and so can make any modifications they desire.
The interest on the repayments are tax deductible and hence this proves a very manageable payment for Nina and Carlos.
Nina and Carlos are opening a food truck business on the Sunshine Coast. They have little capital, so they need the monthly repayments to be minimal, at least in the first 2 years while they establish their business.
The total cost of the truck is $50,000.
Nina has a Permanent part time position and Carlos has 2 years of financials having worked for himself.
The truck was financed over 5 years with a 20% balloon payment at the end under a chattel mortgage. This allows lesser monthly payments of $823 per month (6% comparison rate), and a final repayment of $10,000 after 5 years. They opted for this balloon payment as they estimate this would be the residual value of the vehicle after 5 years. Legally they own the truck from Day 1 and so can make any modifications they desire.
The interest on the repayments are tax deductible and hence this proves a very manageable payment for Nina and Carlos.
"*" indicates required fields
What You Might Not Know About Your Business As a business owner, you’re familiar with most aspects of your business.
The Clients: Jackson and Pippa, two young Australians, have saved $40,000 to buy their first home in Brisbane, QLD, with
Bridging Loan. The Clients: Mr and Mrs Selassie, retired in their early 80s, own a $1m home in Melbourne and
Book your free personal appointment with us, and get all your questions answered.
Fill in the appointment form for a day and time that suits you, and we will be in touch to discuss your loan needs.
© 2024 AMC Financial |
Australian Mortgage Corporation PTY LTD. | ABN 27287562868