Why would a business use Asset Finance?

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Asset finance is a great way for businesses to finance the purchase of specific equipment, motor vehicles, machinery, technology and computers or specific tools for the business.

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There are different finance products for asset finance that each have positives and drawbacks. These include leases, chattel mortgage and hire-purchases. 

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There key differences between the products and many benefits. For example under a 'Chattel Mortgage' your business owns the asset, can claim back the GST paid and depreciation over the useful life of the asset while claiming back the interest paid.

 

This means you pay for the equipment overtime which gives you improved cash flow than paying upfront and the extra cost of interest is often negated. 

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Skyward Financial is a specialist for asset finance and can help your business grow by finding you the optimal finance solution.

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