Whether you are looking to purchase a motor vehicle for the family, business or even a fleet for your sales staff, LKFS can put you in touch with the most suitable & cost effective finance options available.

What motor vehicle loan Suits Me?

There are many different finance options available to assist with the purchase of motor vehicle. The best option for you will be unique to your individual situation. The following loan facilities are available to assist with the purchase of a motor vehicle:

Consumer Loan

This type of finance is typically used by individuals to purchase a car where there is no business use of the vehicle and it does not form part of any salary packaging arrangement. With car loans, the car is the security against the funds borrowed and as such a much more competitive interest rate can be offered than for standard personal loans.

Commercial Hire Purchase

Is generally suitable for businesses using the 'accruals' method of accounting for the Goods and Services Tax (GST) or for individuals who use their motor vehicle for business related purposes.

Chattel mortgage

This is an attractive finance option for sole proprietors, partnerships and companies that use the 'cash' method of accounting for the Goods and Services Tax (GST). Under the cash method, the GST component of the acquisition price of the motor vehicle (or other asset) can be claimed back on the entity's next Business Activity Statement, rather than claiming the GST over the term of the finance contract.