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Savvy knows that heavy plant and industrial equipment are investments in your business over the long term. That’s why we offer a range of equipment financing options that are easy to understand, fair and make the best of your current and future plans for equipment and mechanical resources. Whether you're buying new or used equipment or after a chattel mortgage, hire purchase or lease, we're here to help.
If you only require short-term leases of equipment for a specialised product run or service contract, we can arrange operating leases to improve your cashflow. Talk to one of our expert financial professionals to see how equipment finance can work for you.
If you need to arrange finance for yourself or on behalf of your company, you can rest assured we're reaching for the best loans across Australia’s reputable lenders. We make sure all our loans are the most competitive you’ll find on the market.
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A chattel mortgage and a hire purchase are two sides of a business finance coin, so to speak: both are loan products that allow businesses to take possession of their equipment, write-off GST, depreciation, and interest, and even borrow more than the equipment’s value, to pay for insurance and other items. However a chattel mortgage means your business “owns” the purchases, meaning they're on the books as your own assets. You then pay off the loan as you go. A hire purchase means the lender “owns” the asset, and you pay off this “lease” as time goes on. It depends on what kind of accounting method is best for your business, and what your goals are.
For a new business, saving money on startup costs can be counter-intuitive. Those who want to start “lean” may find their decision will cost them down the road. Buying a new truck means a longer life span, high reliability, more fuel economy, better safety features, less maintenance, and most important, higher resale value. A new truck could last a business years, even decades, if well maintained. Buying new does cost more up front, but with all businesses, it pays to think long-term. Though you may pay more for insurance, you might get a better deal on truck finance thanks to the lower risk involved with buying new.
When a business is expanding into a warehouse or larger premises, the need for a forklift or lift truck arises. However you should figure out if you need a smaller, electric powered forklift or one with an internal combustion engine, like a car. This might be restricted if it makes emissions and you're transporting foodstuffs. You need to know if your business will use it within a warehouse or loading trucks, and find a model that satisfies these needs. Also, buying new may be tempting; but market trends can change. You should figure out if leasing or hiring is a good option. At any rate, you should factor in the lifetime value of your forklift; how much insurance, special training, fuel/electricity, and maintenance will cost over its lifespan.
Moore’s Law, coined by computer scientist Gordon Moore, says that computer power roughly doubles every 18 months. With that in mind, how can one long-term lease or finance IT equipment without running into massive depreciation? Luckily, Moore’s Law has slowed somewhat, thanks to cloud-based computing and modest requirements for productivity software. When it comes to IT financing, you may require leases that allow flexibility for innovations in your industry. A rolling lease might give you new equipment on a fixed term, so you aren’t spending capital on acquiring essential technology and losing out on massive depreciation.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
