Vehicles and equipment finance from Commonwealth Bank
Commonwealth Bank offers financial solutions specifically designed to purchase equipment or vehicle for agricultural clients. The asset finance solution is designed to preserve client’s valuable working capital that can be structured to meet every particular cash flow requirements.
With the asset finance plan, deposit is not required. The option is to make repayments only on a monthly basis when clients receive their income. The asset finance can offer the certainty and flexibility to client’s requirement. A hire purchase arrangement is an agreement to purchase equipment subject to payment terms. The hire purchase agreement helps clients to own the vehicle or equipment, with an automatic ownership that can transfer the final payment.
Commonwealth Bank provides finance lease plan that provides 100 per cent financing where deposit is not required for the acquisition of equipment. A finance lease is a rental agreement where the financier owns the equipment that can be leased by clients for an agreed term and rental amount.
An operating lease is another agreement for renting equipment for a fixed period. It is a cost effective financing strategy. By the end of lease period, clients can return the vehicle or equipment to the financier without any obligation for the residual value. Commonwealth Bank provides equipment loan to clients to borrow funds to purchase equipment. For clients who operate more than five vehicles, they can use the fleet management services from Commonwealth Bank.
10-Jul-2008