Asset Finance That Keeps Your Business Moving
Finance the vehicles, equipment and machinery your business needs without tying up capital that could be working elsewhere. Whether you are replacing one commercial vehicle, expanding a transport fleet or investing in equipment to support business growth, NMC Finance can help you understand your options.
Finance cars, vans, utes and other vehicles used in your business.
Explore finance for trucks, trailers and specialised transport equipment.
Fund machinery and equipment needed to operate, expand or improve productivity.
- Transport and Logistics
- Fleet Operators
- Trades and Construction
- Professional Services
- Manufacturing
- Growing Australian Businesses
Finance The Assets Your Business Needs To Grow
For many businesses, the next stage of growth depends on having the right vehicles, machinery or equipment available at the right time.
Buying those assets outright can place unnecessary pressure on working capital.
Asset finance gives businesses another way to acquire the assets they need while spreading the cost over an agreed finance term.
At NMC Finance, we help business owners understand the lending structures available, compare suitable finance options and work through the application from enquiry through to settlement.
Whether you are financing your first business vehicle or planning the next stage of a growing fleet, the right structure can make an important difference to cash flow and future flexibility.
Need Another Truck Without Draining Working Capital?
Asset Finance Brokers Across Australia
What Is Asset Finance?
Asset finance is a way for a business to acquire vehicles, machinery or equipment without necessarily paying the entire purchase price upfront.
Instead, the cost of the asset is financed over an agreed term and repaid through regular payments.
Depending on the finance structure, the business may own the asset from the beginning, acquire ownership after completing the agreement or use the asset for an agreed period.
Asset finance can be used for both new and used assets, although lender requirements can differ depending on the age, type and value of the asset.
For businesses that depend heavily on vehicles and equipment, asset finance can also help preserve working capital for wages, fuel, inventory, maintenance and other operating expenses.
Asset Finance For Transport And Logistics Businesses
Asset Finance Options
There is no single finance structure that suits every business or every asset. The right option can depend on the asset you are purchasing, how long you expect to keep it, your cash flow position, tax considerations and how you want ownership to be structured.
A chattel mortgage can allow a business to purchase an asset while the lender takes security over that asset. The business generally owns the asset from the beginning, subject to the lender’s security interest.
Under a finance lease, the lender purchases the asset and the business uses it in return for agreed payments over the lease term. Different end of term options may apply depending on the agreement.
A commercial hire purchase arrangement allows a business to use an asset while making repayments over an agreed period. Ownership generally transfers once the required payments and agreement conditions have been completed.
Finance can be arranged for eligible machinery and equipment used in the operation or expansion of a business.
What Should You Compare When Choosing Asset Finance?
Looking only at the advertised repayment or interest rate can make it difficult to understand the true cost and flexibility of an asset finance facility. Consider the complete finance structure.
Compare Asset Finance Options With NMC Finance →
How Much Can I Borrow For Asset Finance?
The amount a business may be able to finance depends on more than the purchase price of the asset. Lenders can assess the business, the asset being purchased and the proposed finance structure before determining how much they are prepared to lend.
Speak With Our Team About Your Borrowing Capacity
Financing One Vehicle Versus A Growing Fleet
Financing one vehicle can be relatively straightforward. Financing a growing fleet requires a wider view.
A transport business needs to consider not only what it can borrow today, but how each new finance commitment may affect its ability to fund the next truck, trailer or piece of equipment. That is why fleet finance should be considered as part of a broader funding strategy rather than as a series of unrelated vehicle purchases.
- Purchase driven by one immediate requirement
- Finance assessed around one asset
- Smaller overall funding requirement
- Simpler replacement planning
- Multiple current and future assets
- Existing facilities need to be considered
- Cash flow becomes increasingly important
- Replacement cycles may need forward planning
- Future borrowing capacity becomes more important
Planning Your Next Fleet Purchase?
Can You Finance New And Used Assets?
Both new and used business assets may be eligible for finance.
The options available can differ according to the type of asset, its age, condition, purchase price and expected useful life.
A new truck purchased from a recognised dealer may be assessed differently from an older specialised vehicle purchased privately. The same principle applies to machinery and other business equipment.
Before committing to a purchase, it can be useful to understand whether the asset falls within the lending criteria of the lenders you may need to approach.
Buying A Used Truck Or Piece Of Equipment?
Before paying a deposit, speak with our team about the asset you are considering and the finance you may require.
How Asset Finance Works With NMC Finance
A clear process can help you move from identifying an asset to arranging finance without unnecessary delays.
Why Use An Asset Finance Broker?
Different lenders can have different approaches to industries, asset types, business history and finance structures. A broker can help you understand those differences before an application is submitted.
What Do I Need To Apply For Asset Finance?
Requirements vary between lenders and applications. Depending on the transaction, you may be asked for some of the following information.
Not every application requires the same documentation. Your NMC Finance broker can explain what is likely to be required based on the lender and finance structure being considered.
Asset Finance Frequently Asked Questions
What is asset finance?
Asset finance is funding used to acquire or refinance business assets such as vehicles, trucks, machinery and equipment. Instead of paying the full cost upfront, the business generally repays the finance over an agreed period.
What assets can I finance?
Eligible assets can include business cars, vans, utes, trucks, trailers, machinery, plant, material handling equipment, technology and other commercial equipment. Eligibility depends on the lender and the individual asset.
Can I finance a truck for my transport business?
Yes. Truck finance is a common form of commercial asset finance. The options available will depend on the truck, purchase price, age, your business and the lender’s criteria.
Can I use asset finance to expand my fleet?
Asset finance may be used to purchase additional vehicles for an expanding fleet. It is important to consider existing finance commitments, cash flow and future borrowing needs when planning fleet growth.
Can I finance a used vehicle or used equipment?
Potentially. Many lenders consider eligible used assets, although requirements can vary depending on the asset’s age, condition and value.
Do I need a deposit for asset finance?
Not always. The contribution required depends on the lender, asset and strength of the application. Some transactions may allow a larger proportion of the purchase price to be financed while others may require a deposit.
What is a balloon payment?
A balloon is an amount left outstanding at the end of the finance term. Using a balloon can reduce regular repayments, but it means a larger amount remains payable at the end of the agreement.
How long can asset finance run for?
Finance terms vary depending on the asset, lender and transaction. The expected useful life and age of the asset may also influence the available term.
Can a new business get asset finance?
Some lenders consider newer businesses, but available options and documentation requirements can differ from those offered to established businesses.
Is asset finance tax deductible?
The tax treatment of asset finance depends on the finance structure, asset and circumstances of the business. Speak with your accountant or tax adviser before relying on any potential tax benefit.
Can I refinance business assets I already own?
Depending on the asset and your circumstances, refinancing existing business assets may be possible. This may be used to restructure existing finance or potentially release capital tied up in eligible assets.
Is asset finance the same as a business loan?
Not necessarily. Asset finance is generally connected to a particular asset, while a business loan may be used for a broader range of business purposes. The security and repayment structure can also differ.
Should I arrange finance before choosing a truck or vehicle?
It can be useful to understand your likely finance position before committing to an asset. This can help you assess an appropriate purchase budget and identify potential lender requirements before paying a deposit.
Other Business Finance Solutions
Your business may need more than one type of finance as it grows.
Finance for eligible offices, warehouses, industrial premises and other commercial property.
Explore funding for vehicles and equipment used in your business.
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