CAR BLITZ

Car Blitz offers a complete range of car finance and car loan options from more than ten different lenders.

Car Blitz doesn’t just save you the time and hassle shopping around on your car finance we also have access to Australia’s leading insurance products to protect you from life’s uncertainties. Please enquiry now to find out how we can help you with your insurance needs.

Which Car Finance Option Is Best For You?

Choosing the right finance structure for your new car or commercial vehicle can be a difficult and confusing decision.

It's also very important to make the right choice, as the wrong option can cost you thousands in fees, extra interest, exit penalties and missed tax deductions.

Businesses and individuals have different options available to them.

A Chattel Mortgage is used usually for self employed people who are registered for GST as this style of loan allows them to claim back the GST portion of the car purchase in the next BAS period and they are also able to claim all business related expenses with the car and also the depreciation on the asset plus the interest on the loan.

A Hire Purchase is similar to a Chattel Mortgage but is typically used by people who are employed full time and required to use a motor vehicle for business purposes. This style of loan also allows them to claim depreciation on the asset and the interest component of the loan as well as the expenses related to running of the car.

A Lease or Novated Lease relate to a different style and one that is not as commonly used these days. A Lease means that the finance company ‘buys’ the car and you lease the vehicle off of them. GST is added to the lease payment so if you are not registered for GST then you are unable to claim this portion back. With this style of loan you claim the monthly repayments and associated running costs but can not claim the depreciation on the asset as it is not owned by you. A Novated Lease is the same but you and the company that you work for are on the loan together and if you leave their employ then the loan becomes your responsibility.

The loan can be arranged over any term between 12 months and 60 months, 5 years. You can either have the loan paid out to a zero balance or there can be a residual or ‘balloon’ payment left at the end. A Lease style of loan much be set up with a residual amount that is guided by the ATO.

If you have any questions or would like to know more about any car finance package, please send us an online Car Blitz enquiry and one of our finance consultants will contact you shortly.