Whether you want to buy your dream car or a fleet of commercial work vehicles, at Pacific Finance we have the funding solutions to meet your needs. We can arrange finance for private purchases, novated leases for tax effective salary packaging, and commercial vehicle finance for business clients of all sizes.

THE OPTIONS

Depending on your circumstances motor vehicle finance can be structured in a number of ways.

Chattel mortgage
Hire purchase
Operating lease
Finance lease
Fleet lease
Novated lease
Personal loan

NOVATED LEASES

A novated lease is a three-way agreement between an employer, an employee and the financier. The arrangement is simple and only involves a few easy steps.

The employee leases the vehicle from the financier
The employee, employer and the financier enter into a novation agreement
The employer agrees to deduct the lease rentals from the employee's salary
The employer pays the lease rentals directly to the financier

Employee benefits include the freedom to choose preferred type of car, subject to financier acceptance, and the ability to move the lease to another employer.

Employer benefits include the elimination of administration of a fleet of vehicles as well as no liability recorded on the balance sheet.

A novated lease can have income tax, GST and fringe benefits tax implications and you should always seek independent tax advice on the effectiveness of a novated lease.