Commercial Hire Purchase (CHP)
Commercial Hire Purchase is a commercial finance product where a business (or an individual with a high proportion of business use) "hires" a car from the financier for a fixed monthly repayment over a term, and has the option to purchase the car at the end of the term.
Finance Lease (Car Lease)
A Finance Lease (Car Lease) enables a business to have the use of a car or commercial vehicle and the benefits of ownership, while the financier retains actual ownership of the vehicle.
Novated Lease
While not strictly a business car finance option, Novated Leasing is a great way for businesses to offer an added incentive to their staff at no extra cost to the employer.
Chattel Mortgage
A Chattel Mortgage is a commercial finance option under which a financier loans money to a business to purchase a car or commercial vehicle (chattel), and then secures the loan with a mortgage over the vehicle.
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