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The benefits of Vehicle and Equipment Finance

ANZ Financially Ready

2024-01-30 05:30

Key points

  • What is Vehicle and Equipment Finance?
  • How can Vehicle and Equipment Finance help your business?
  • How is ANZ’s Vehicle and Equipment Finance different from the other banks?
  • Applying for Vehicle and Equipment Finance.

When running your own business, having the right equipment is crucial. And there may come a time when you need to update your assets to help ensure your business remains efficient and profitable.

Typically, many business owners rely on their own cash to upgrade these important assets, like company cars, equipment for medical and dental practices, and earthmoving machinery for agriculture. Combined with overheads like wages and rent, these costs can put a huge dent in your cash capital.

That’s where financing your purchases can help reduce the impact on your cash flow. With the benefits of ANZ’s Vehicle and Equipment Financing we can help your business.

What is Vehicle and Equipment Finance?

Vehicle and Equipment Finance is a way for customers to buy or lease assets they need for the day-to-day operations of their business.

This form of finance can be a good way to secure funding because the vehicle or equipment itself acts as collateral for the loan, and approved customers may not need a deposit. This means you can preserve your business’s working capital giving you peace and mind that you can cover any unexpected expenses.

So, rather than impact your current ability to pay other bills, some customers may benefit from financing their vehicle and equipment purchase and paying it off over time (with interest).

How can Vehicle and Equipment Finance benefit your business? 

With constantly changing business needs and new customer demands, Vehicle and Equipment Financing can be used to renew and upgrade equipment. This allows you to meet those shifting requirements, without having to dip into your own pocket to pay for new equipment or a vehicle upfront.

“Vehicle and Equipment finance helped one of my customers, an apparel printing and design studio in Sydney, grow their business by purchasing a high-end printing machine with the ability to print 400 shirts per hour. This new purchase meant they could expand their servicing offering quickly and speed up their production while continuing to offer a quality product.”

Nicole Xue, ANZ Business Banker

How is ANZ’s Vehicle and Equipment Finance different from the other banks?

The benefits of ANZ’s Vehicle and Equipment Finance includes access to funding for vehicles and equipment, while offering flexible repayment options and competitive pricing plans, to help you budget more accurately. For example, customers working in agriculture can make repayments seasonally to align with harvest timing, or a business can tailor repayments to best suit their accounting cycle.

We’ve also joined forces with the Clean Energy Finance Corporation (CEFC) to help our customers find the right finance solutions to make energy-efficient asset investments. Encouraging business investments in renewables is all part of our 2025 sustainability goals.

LRT/VCT Transport needed finance to help switch to a more energy-efficient onsite refrigeration system. With ANZ’s help, they were able to install a rooftop solar system, which brought down their power bills and drastically reduced their carbon emissions.”

Paul Connor, ANZ Agribusiness Manager

How can you apply?  

To get the ball rolling and start reaping the benefits of ANZ’s Vehicle and Equipment finance, please chat to your accountant or tax advisor to find out whether ANZ’s Vehicle and Equipment Finance is right for your business. Then talk to an ANZ Banker for more information on how to apply for vehicle and equipment financing!

Next steps

Request a call back or chat with one of our local business bankers about ANZ’s vehicle and equipment finance today!

The benefits of Vehicle and Equipment Finance
Business specialist
ANZ Financially Ready

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This is general information only, so it doesn’t take into account your objectives, financial situation or needs. ANZ is not giving you advice or recommendations (including tax advice), and there may be other ways to manage finances, planning and decisions for your business.

Read the ANZ Financial Services Guide (PDF) and, if applicable, the product Terms and Conditions. Carefully consider what's right for you, and ask your lawyer, accountant or financial planner if you need help. 

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