Company Vehicle Finance: Financing Through a Company

Key highlights

• Finance held in a Pty Ltd company's name
• Chattel mortgage, hire purchase and lease all commonly used
• Lenders assess company ABN, GST and director credit
• 80+ lenders compared through one broker
• Obligation-free company vehicle finance quote

Can a company be the borrower?

When a company finances a vehicle, the company itself is generally the borrower and the vehicle is held in the company's name. Lenders will look at the company's ABN and trading history, and in many cases directors may be asked to provide a personal guarantee. This structure keeps the vehicle within the business, which can align neatly with how a company operates.

How is company vehicle finance structured?

Chattel mortgage, hire purchase and lease are all commonly used by companies, each with different implications for ownership and reporting. How a company treats a vehicle for GST, depreciation and deductions depends on its circumstances, so those questions belong with your accountant or registered tax adviser rather than being assumed.

Who is eligible for company vehicle finance?

Lenders typically assess the company's ABN age and GST status, its financial position, and the credit profiles of directors. A well-established company with tidy records may find the process straightforward, while newer companies can still find options for eligible applicants. All lending is subject to lender criteria.

How do you get company vehicle finance?

Overdrive helps companies compare 80-plus lenders through one broker, Simon Kendrick, to find vehicle finance that may suit the business. Request an obligation-free quote today. It is a soft check that won't affect your credit score.