12 02 2010
INSTALMENT SALE
With an instalment sale, you buy the item by paying instalments over an agreed period. Once you've paid the full amount, ownership automatically passes to you. Financing periods can be structured from 12 - 60 months or longer dependant on your personal needs.
· Interest is calculated at either fixed or prime-linked rates
· The goods must be fully insured during the agreement
· There is no minimum deposit payable but may be dependant on current legislation and your credit profile
Benefits
The benefits of choosing this agreement are:
· You own the goods when you've paid the full amount
· If the asset is used for business purposes, you can claim depreciation and the yearly interest paid against tax
· You'll enjoy the benefit of any resale value
Optional Features
You may want to consider taking the following option with your finance package:
· Take-A-Break Payment
You should carefully consider the benefits of the following insurance/warranty options:
· Motor Comprehensive Insurance
· CoverPlus
· Customer Protection Plan
· Vehicle Warranty
Suited To
This type of agreement will suit business-owners or private individuals who want to own the asset at the end of the agreement.