Individual Finance

Consumer Car Loan.

This loan is for cars of any age that will be used predominantly for personal use. The term of the loan ranges from one to seven years and security is taken over the car. All consumer loans are protected by the Consumer Credit Code to give the customer added protection. Our consumer loans have a fixed competitive interest rate and are daily reducing meaning you can save money by paying additional payments. Repayments can be made monthly or fortnightly by direct debit. A consumer loan also gives you the flexibility to include registration and on road costs, loan or comprehensive insurance or extended warranty. A balloon payment is also available to approved purchasers to keep your monthly payment to a minimum.

Personal Loans.

Our Personal Loans are unsecured and can be used for any purpose. All of our personal loans are protected by the Consumer Credit Code to give the customer added protection. To qualify for a personal loan you must have a clear Baycorp file and will need to provide 100 points ID, a recent payslip, rent receipt/rates notice and latest full month bank statement.

Novated or Fully Maintained Lease.

This is a Tax effective way to buy a new or late model car as payments are deducted from your gross pay. You can choose to just finance the car as a Novated Lease or have a Fully Maintained Lease which packages the car payments, fuel, servicing, tyres, registration and insurance into one easy monthly repayment making it easy to budget.

Business Finance

Chattel Mortgage.

If you are registered for GST your accountant will most likely advise you to finance your new or used vehicle as a Chattel Mortgage. Under the terms of a Chattel Mortgage you are legitimately entitled to claim the GST back as an input tax credit on your next BAS (Business Activity Statement) without losing your normal business related tax deductions. This is a flexible loan allowing you to have a trade or cash deposit and also a balloon payment. On road costs, registration, insurance or extended warranty can be packaged into the loan.

Commercial Hire Purchase.

Also known as Asset Purchase or Term Purchase. If your vehicle is predominantly used for business use this can be a tax effective way for you to buy your car letting you claim the interest plus the depreciation of the vehicle. This is a flexible loan allowing you to have a trade or cash deposit and also a balloon payment. On road costs, registration, insurance or extended warranty can be packaged into the loan.

Motor Vehicle Finance Lease.

The benefits of a Finance Lease are you claim the monthly payment in full as a tax deduction. This deduction is the same for the full term of the lease making for simple accounting. The finance company also claims the GST upfront allowing the customer to finance the car price excluding the GST. At the end of the Lease you can choose to upgrade the car or refinance the residual value.