Business Car Finance

Business runs cars – get the support you need with a great car finance deal from Savvy.

No obligation. It won't affect your credit score.
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, updated on July 4th, 2023       

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Flexible business car finance to help you grow

Drive your business further

Small business, medium business, enterprises – all business can do better with lower rates on car finance and more freedom to choose. Savvy gives you the options to make the most of your investment in vehicles. We offer a range of car loan products, tailored to suit your needs. We source our car loans from over 25 of Australia’s top lenders to ensure you always drive your car with the best deal with fixed interest rates.

Hire purchases, chattel mortgages, and leasing

Savvy offers all the most popular and cost-effective car finance products on the market. Make a cash-flow neutral purchase with a chattel mortgage or hire purchase. Borrow more than the purchase price to pay for insurance or registration. Plus, you can claim the GST, interest, and depreciation. Add balloon payments to reduce monthly repayments. 

Business car finance benefits you can experience with Savvy

Range of options on offer

We can help you get approved for an array of diverse finance types through our lending partners, such as chattel mortgages, car leases and hire purchases.

Tax benefits

Depending on the type of finance you choose, your tax deductions range from GST on purchase and interest on payments to 100% of the payment itself.

Low rates

Business car finance can often come with the lowest rates on the market, so we're partnered with a range of specialist lenders to help you save crucial funds.

Borrow 100% of your vehicle’s purchase price

If you’re looking to buy your car, you can be approved for financing up to its full price without having to pay a substantial deposit upfront.

Residual payments available

Residual payments can also be utilised on business car finance, in some case compulsorily, to help you reduce the cost of your car’s repayments.

Set your own payment schedule

You’ll get to choose whether to pay for your finance over a period of one year up to seven and on a monthly, fortnightly or weekly basis.

Finance new or used cars

Whether your car is brand-new or pre-owned, bought from a dealer or private seller, you can be approved for finance through one of our flexible lenders.

Other vehicles available

You’re not limited to cars, either: we can help you get approved for anything from trucks, aircraft, machinery or other business equipment.

We’re the savvy choice for business car finance

Which car finance options can I choose from?

Your business car loans questions answered

How much can I borrow?

You can borrow 100% of your car's purchase value and include extras such as insurance and extended warranties.

What loan terms are available?

Yes, we can tailor loans ranging from 12 months up to 7 years for chattel mortgages and hire purchases.

What is the difference between a chattel mortgage and a hire purchase?

A chattel mortgage and hire purchase work the same in principle but are different “on paper.” In a chattel mortgage, the purchaser takes ownership. In a hire purchase, the bank or lender is the owner. This makes a different for accounting for assets vs. using operating capital. Your accountant may decide one option is better for your business over the other.

Do I need to put down a deposit for a chattel mortgage or hire purchase?

No. You can borrow 100% of the car’s value, and even cover expenses such as registration, insurance, and maintenance.

I run a seasonal business; can I apply for a chattel mortgage or hire purchase?

Yes, we can arrange seasonal repayment plans according to your requirements.

Are there any borrowing or finance caps in place?

No – when it comes to vehicle finance, you’re only limited by what your business can afford to repay on a monthly basis. Whether you’re a small business looking for $5,000 to put towards your vehicle purchase or a more expansive enterprise looking to buy or lease a fleet of cars, we’ll connect you with a lender and product suited to your situation.

Do I need to put down a deposit?

No – however, a deposit can help you get approved for a chattel mortgage if you’re a small or startup business, or one with a poor credit rating. By putting down a deposit, you’re reducing your lender’s feeling of risk in you as a borrower. Deposits are otherwise optional, however, and don’t apply at all when it comes to car leasing.

Is business car financing available to self-employed workers?

Yes – self-employed workers are treated in the same way as any other business when it comes to financing their car: provided you meet your lender’s net income requirements and can supply your previous two years’ worth of tax returns, you can apply for the same commercial car finance product that any other small or large business can.

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