Chattel Mortgages

Chattel mortgages  are an appealing option for sole proprietors, partnerships and companies that use the 'cash' method of accounting for the Goods and Services Tax (GST). Under the cash method, the GST component of the financed price of the motor vehicle (or other asset) can be claimed back on the entity's next Business Activity Statement, rather than claiming the GST over the term of the finance contract.

Flexibility
Chattel mortgages have many flexible features. You can choose to finance the total purchase price, or use a deposit or trade-in to reduce the loan repayments. You can even use the GST refund to contribute towards paying off the loan, thereby reducing the amount financed and the interest paid over the term of the loan.

Tax Benefits
By choosing a chattel mortgage, you become owner of the motor vehicle while the financier secures a charge over the asset. As you are the owner of the motor vehicle you may claim a tax deduction for the depreciation on the motor vehicle as well as the interest component of the loan repayments.
GST is also not payable on the loan repayments.

Lease

Leases are usually utilized by Pty limited companies that require a straight line tax benefit.

It is primarily a rental agreement used for business purposes using the value of the equipment at the end of the contract as a residual
The goods as such are owned by the financier with repayments being tax deductible.

At the end of the contract you can either make an offer to purchase, trade or refinance the residual payment.

Novated Lease

Novated leases maximise your salary package whilst paying for your car in pre-tax dollars.
For those with the option of leasing a car as part of a salary package this is a flexible solution with advantages for both the employee and employer.
A novated lease is ideal for employees who have the option of receiving a car as part of their salary package. The employer pays all rental payments to the financier and the employee enjoys full use of the motor vehicle.
The employee chooses a car and leases it from the financier
The employee then novates the lease to their employer, who assumes all the employee’s rights and obligations under the lease, including responsibility of meeting the lease rentals.
The contract is in the name of the employee who remains the registered owner throughout the lease and keeps effective control of the vehicle at all times.
If the employee leaves the company, the vehicle remains with the employee. In this situation, generally the employee takes over the payments or gets another employer to make the payments. This means, the original employer is not left with an unwanted car and the employee keeps the vehicle.

Employee Benefits
Use of a vehicle without having to budget for repayments.
Choice about what car you buy and where you buy it from.
Retain the car if you change employment.
If the employee leaves, the company is not left with an unwanted car.

Employer Benefits
The employer can provide the employee with a car without having to reflect it on its balance sheet.
The repayments are fixed throughout the life of the loan.

Consumer Loan

Loanpoint has been providing Consumer loans for  over  20  years
These loans usually have a lower interest rate than personal loans/unsecured loans but allow flexibility of repayments.
Consumer loans can be Tailored to suite  your repayments  or  term and generally are secured against the vehicle you are purchasing.

The purchase of your car is generally the second biggest purchase that you are likely to make in your lifetime, after the family home. Just as it is unlikely that for most of us to pay for our homes with cash, the same is generally true with today's cars. This allows valuable family income to be utilized to its best advantage.

Family budgeting and cash flow are made easier because you know your commitments in advance. Once a loan has been approved, the interest rate and payments remain fixed for the term of the loan. Secured loans are generally daily reducing and covered under the UCCC.

By making regular fortnightly payments on time, you build an excellent credit rating, which is of benefit when you apply for any form of credit in the future.

Consumer loans can be used  for cars, Motorcycles caravans and boats.

Refinance

Loanpoint specialises in the refinancing of existing loans where:
* The interest rate of your existing loan is too high with your current bank and you want to lower it.
* You have initiated a joint loan and now wish to continue it on your own.
* You wish to reduce repayments.

We can Taylor a new loan to meet your budget and ease the pressure that can sometimes be created when payments are too high.
This means we can also lock into a fixed rate daily reducing loan that gives you flexibility.

No worries. Loanpoint can payout your existing loan with your current bank or finance company and we’ll arrange a package to suit your budget.

Why re-finance
many people re-finance simply to just get a better deal. Loan points' low interest rate will reduce both your term and the amount of interest you pay over the loan period, saving you considerably on interest costs
We can reduce your repayments further by increasing the term, allowing you to minimise your scheduled minimum commitment.

You could also choose a balloon payment or residual option. This option growing slowly in popularity. By setting a larger balloon payment for the end of the term, which can vary according to your circumstances, you can reduce your repayments to better balance your budget. At the end of the term, you can either pay out the full amount or re-finance the balloon amount and continue paying off the car over a new loan period.

Whatever your reason, Loanpoint is confident that we can obtain a better deal for you.

Second Chance

Loanpoint have an exceptional record in regard to gaining finance for discharged bankruptcies.
Being a discharged bankrupt need not be the end of the world.
There are set formulas that can enable you to enter back into the credit arena with confidence.

26 years of experience in the field means we are best suited to re establish you and your credit rating

Specialist Financing

Specialist equipment financing requires specialist attention. Providing the best advice on financing options - finance leasing, hire-purchase & chattel mortgage, Personal loans , Loanpoint can assist you.

Loanpoint provides lending for: