For a Pty Ltd company, a van is a working asset that should be financed as efficiently as possible. Company structures often open up a range of finance options. Overdrive compares a panel of 80+ lenders so your company deals with one broker.
Can a company finance a van?
Companies with an active ABN and reasonable trading history can access a broad set of van finance products. Lenders assess the company's financials, credit position and directors, and eligible applicants may secure competitive terms subject to lender criteria. This suits businesses running one van or building a fleet.
What finance structures do companies use for vans?
Companies often use a chattel mortgage or similar arrangement where the business owns the van and finances it over a set term. Deposit and balloon options can be tailored to manage cash flow and asset renewal. A broker can compare how these look across multiple lenders side by side.
What are the accounting considerations for company vans?
How the van is recorded, depreciated or claimed for GST depends on your company's circumstances, so confirm the detail with your accountant or registered tax adviser. Getting the structure right early can make later reporting simpler.
Financing a van through your company? Contact Overdrive for an obligation-free quote. It is a soft check that won't affect your credit score, and Simon will help structure it around your business.
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