It’s a finance loan where you take ownership of the asset from the outset and your loan agreement is secured by the asset. As security, we take out a mortgage over the asset. This means that if the loan isn’t paid we can sell the asset to recover our money. When your contract term ends and you’ve paid the loan in full, the mortgage title is yours.
A finance loan where you hire the asset for a fixed monthly repayment over an agreed period. You can tailor payment options, including the loan period, a deposit and a larger final balloon payment.
Zenith Finance purchase the asset on your behalf and hire it out to you over a contracted time frame. When your contract term is finished and you’ve paid in full, title of the asset transfers to you.
It’s an agreement where we purchase the asset and hire it out to you at fixed monthly repayment over an agreed period. The loan is set up with an agreed residual value at the end of the contract. The residual value is generally set as per the ATO guidelines for a particular asset.
It’s a finance option that works well for assets that depreciates quickly, has a short life span or is constantly in need of upgrading. It’s similar to a finance lease but, gives you more flexibility. We purchase the equipment and rent it to you for an agreed payment over a fixed term. Ownership of the asset remains with Zenith for the entire lease period. For accounting effect, operating lease is treated generally like renting. That means, the lease payments are treated as operating expenses. You get to use the equipment without the hassle of disposing of it at the end of its life. It’s like renting your equipment over a fixed period.
You’ll benefit from lower interest rates, deposit options, large final payments, short or long term contracts, easy budgeting and tax savings.
In this day and age of banks tightening their credit criteria, and APRA putting pressure on the banks to curbed their lending, why not get your loan preapproved.
Preapprovals can last anywhere from sixty days to six months. Having a preapproval gives you the confidence to take advantage of purchasing good assets as they come onto the market.