Key highlights
- Finance a vehicle in the company name via a chattel mortgage
- The company owns the asset while repaying the loan
- Lenders review trading history, ABN age and financials
- Directors may be asked to provide guarantees
- Simon compares 80+ lenders to fit your company's needs
Financing a car through a company brings different considerations than a personal purchase, from how the loan sits on your balance sheet to how directors are assessed. Whether you need one vehicle or a small fleet, there are structures designed for Pty Ltd entities. Overdrive helps companies compare lenders and choose the right approach.
How does company car finance work?
A company can typically finance a vehicle in the business name using products such as a chattel mortgage. The company owns the asset while repayments are made over an agreed term, and the vehicle can be recorded on the company's books, subject to lender criteria.
How do lenders assess companies?
Lenders usually look at the company's trading history, ABN age and financial position, and may ask directors to provide guarantees. A well-established company with clean credit generally has more options across the panel.
What tax applies to company cars?
Company vehicles can involve GST, depreciation and fringe benefits considerations that depend on how the vehicle is used. These are important to get right, so check with your accountant or registered tax adviser before finalising the arrangement.
Simon Kendrick can compare 80+ lenders to find finance that fits your company's needs. Request an obligation-free quote from Overdrive today; it is a soft check that won't affect your credit score.
Ready to compare cheap rates?
Free quote in minutes, decisions in 24–48 hours. No credit-score impact to enquire.