Who are commercial hire purchases meant for?
Cars and other vehicles are huge financial commitments that aren’t always best suited for businesses and owners still at the infancy of their operations. Unfortunately, in many instances, business-related vehicles are a requirement and, one way or another, businesses need to find ways of sourcing them. While loans may not be the best option for businesses still getting set up, there are alternative methods.
Commercial hire purchases are perhaps the simplest method of sourcing vehicles. In this situation, a lender would purchase the required vehicle for you, on your behalf, and hire it out to you for a fixed monthly payment. However, all maintenance and operational costs will need to be taken care of by you.
- You’re looking for a new car. Whether you’re hoping to buy your very first car or you’re looking to upgrade, car leasing is one of the most sought-after and flexible ways of helping you finance your new dream ride.
- You’re looking for flexibility and options. With so many lenders active here in Australia, combined with the many loan types available, car loans give borrowers the ability to scope the landscape, review all the choices, and make an informed decision.
- You would like to own the car one day. Cars and vehicles at large have become increasingly valuable to a diverse group of people. While renting does give your temporary access, car loans give you the contract period flexibility required to make successful repayments even in the most trying conditions.