This is the equivalent of a Rental agreement. Motor vehicles and equipment can be financed under an Operating Lease.
The payments are fixed for the period of the contract (normally 1 – 5 years).
It is possible to upgrade the goods before expiry of the contract with amended payments and/or period.
At the end of the contract period you have the following options:
- Return the goods to the lender
- Extend the period of the contract with reduced payments
- Purchase the goods at the market value
The payments under the contract are tax deductible and include GST.*
*The information provided does not take into account your specific circumstances. We strongly urge you to consult your tax adviser regarding any taxation matters.
