Universal Finance has a number of different and unique financing options that allow us to meet the individual needs of different customers. With access to a wide range of financial institutions we are able to find a loan to suit you. What makes our finance arrangements unique is our ability to offer finance with no ongoing account keeping fees and NO cancellation fees if you choose to end the contract early and payout the outstanding amount to save on interest owing. Allow us to make finance simple for you, contact us for an obligation free quote on all forms of finance listed below.

Personal Loans

Personal finance is your ticket to getting behind the wheel of any new or used car as soon as possible. The most basic form of finance is a personal/consumer loan, in providing finance we recognise each person is unique and requires different conditions. In order to structure a financial agreement we adjust such things as interest rate and term along with other conditions like “residual or balloon” to your loan. A balloon is represented as a percentage of amount financed which mean at the end of the term of the loan there will be an amount still owing and there for paid. What this does is reduce your monthly repayments. These added features along with highly competitive interest rates, makes Universal Finance the Finance Broker of choice for many satisfied customers.

Commercial Hire Purchase Loan

CHP is a great way to save money through attractive interest rates and tax incentive. How a CHP works is the financier purchases the car off you and then hires it back whilst requiring you to make repayment over the period of the contract. At the end of the contract, once all repayment are completed, car ownership is then transfered into the customer’s name. In order to be eligible for a hire purchase, 50% of the cars use must be for work purposes. This arrangement is almost exactly like a normal personal loan in terms of structure however with more attractive interest rate, tax incentive and GST claimable periodically. This is an ideal arrangement for individuals with no ABN number and a vehicle used for work purposes.

Chattel Mortgage

Chattel mortgage is not just a business loan, it allow companies, partnerships and sole traders to take advantage of the tax effective solution to enhance cash flow. A chattel mortgage is where a financier provides the funds to the customer to purchase a car and “mortgages” the car using the vehicle itself as security and registering the fixed and floating charge with ASIC. On completion of the contract the car is fully owned by the customer. This form of finance is similar to a HP contract however is more suitable for a business owners with ABN numbers allowing the business to benefit from the available tax and GST incentives.

Lease

A lease is a great way to get in to the driver’s seat of a car without the worries of such things as depreciation and current market value. Leasing a car is very simple, rental repayments are paid in order to use the vehicle however ownership of the vehicle stays with the leaser. There are a variety of leasing options, Call the Universal Team today to find out what best suits your needs.