Model your business vehicle finance repayments and compare chattel mortgage, hire purchase, finance lease, and operating lease structures side by side. See GST credits and estimated tax benefits for each structure.
| Frequency | Repayment | Total interest | Total cost |
|---|---|---|---|
| Weekly | $228.05 | $9,293 | $59,293 |
| Fortnightly | $456.35 | $9,326 | $59,326 |
| Monthly(selected) | $990.06 | $9,404 | $59,404 |
Same vehicle, same inputs. Different structures change the tax treatment and total cost.
| Chattel Mortgage | Hire Purchase | Finance Lease | Operating Lease | |
|---|---|---|---|---|
| Monthly payment | $990.06 | $990.06 | $990.06 | $990.06 |
| Total cost | $59,404 | $59,404 | $59,404 | $59,404 |
| Total interest | $9,404 | $9,404 | $9,404 | $9,404 |
| GST credit | $4,545 | On each payment | On each payment | On each payment |
| Est. annual tax benefit | $1,891 | $1,420 | $2,970 | $2,970 |
| Est. net cost after tax | $45,405 | $52,301 | $44,553 | $44,553 |
Tax benefit estimates are indicative only and based on simplified assumptions. Actual tax outcomes depend on your individual circumstances, business structure, and other factors. Consult your accountant or tax adviser for advice specific to your situation.
Switching from monthly to weekly repayments could save you $111 in interest over the life of this finance.
The structure comparison table shows how chattel mortgage, hire purchase, finance lease, and operating lease differ for the same inputs. The tax treatment can make a significant difference to the net cost of the vehicle.
GST registration changes the upfront credit available under a chattel mortgage and the treatment of payments under lease structures. Toggle it to see how it affects each structure.
A higher balloon reduces your regular repayments but increases the total cost and creates a lump sum obligation at the end. Use the slider to see the trade-off across all four structures.
Base rate entities (turnover under $50M) pay 25% company tax. Non-base rate entities pay 30%. The tax rate affects the value of every deduction, so switching between them shows a meaningful difference in net cost.
Most lenders want to see at least 12-24 months of trading history. Newer businesses may need to provide additional financials or a larger deposit.
Lenders review your business financials (profit and loss, balance sheet, or recent tax returns) to assess serviceability. Healthy cash flow is the key indicator.
The age, condition, and value of the vehicle affect the rate and terms. Most lenders have maximum age limits (e.g. no more than 12-15 years old at the end of the loan term).
Your personal and business credit history influences the rate. A clean credit file opens access to the most competitive rates. Some non-bank lenders can work with less-than-perfect credit.
Compare business vehicle finance from 50+ lenders. Find a structure and rate that works for your business.
Subject to lender approval, terms and conditions apply.
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Results are estimates only and should not be relied upon for financial decisions. Actual business car loan repayments will depend on the lender, your credit profile, and the specific terms offered. Interest rates used are for illustration purposes only and may not reflect current market rates.
Subject to lender approval, terms and conditions apply.
This calculator is general information only and is not financial advice.