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Asset Finance

Asset Finance

FAQs about financing business assets like vehicles or equipment.
What is asset finance?

Asset finance is a great way for businesses to get the equipment, machinery, or vehicles they need without having to pay upfront. Instead, they can make regular payments over time, making it easier to manage their budget.

What can you buy with asset finance?

Asset finance can be used to purchase a wide range of assets, including:

  • Machinery and equipment: Including manufacturing equipment, construction machinery, medical or dental equipment, andlandscaping equipment.
  • Commercial vehicles: Including cars, trucks, vans, and buses.
  • Specialised equipment: Including commercial kitchen equipment and appliances, vending machines, cecurity systems, and furniture and fit-outs.
  • IT equipment: Including computers, servers, and software.
What are the different types of asset finance?

There are several types of asset finance available, including:

  • Chattel mortgage: A loan secured against a specific asset.
  • Hire purchase: A type of agreement where the business hires the asset with the option to purchase it at the end of the term.
  • Lease: A rental agreement where the business can use the asset for a fixed period.
  • Sale and leaseback: A transaction where a business sells an asset to a lender and then leases it back.

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Am I eligible to apply for asset finance?

To qualify for asset finance, you typically need an active Australian Business Number (ABN) and meet the following criteria:

  • Minimum 6 months trading time with your ABN.
  • Monthly revenue of at least $5,000.
  • Recent bank statements (6-12 months)
  • A good credit history is beneficial, but some lenders will consider applications with minor credit issues.
Can I refinance my existing asset finance agreement?

Yes, it's possible to refinance an existing asset finance agreement. This may be beneficial if interest rates have fallen or if your business's financial situation has improved.

How quickly can I get asset finance approved?

When applying for asset finance with Valiant Finance, you'll experience a quick online application process that can be completed in minutes. Our advanced credit assessment technology compares options from 90+ lenders, allowing potential approval within a day. Partner with Australia’s leading broker and get a great rate today.