Coffey Ford Finance Solutions.
Coffey Ford offer the following range of products, through Ford Credit, to suit all of your car finance needs. For a more detailed description on any of the solutions described below, please click on the appropriate link located on the left hand side of this page.
--------------------------------------------------------------------------------
Consumer Loan - Ford Credit's Consumer Loan product is a convenient and flexible way for you to obtain finance for the New or Used car of your choice. The vehicle is used as security for the loan, however you have ownership from the beginning of the contract. Upon the final payment you get clear title to the vehicle. A Consumer Loan is regulated under the terms of the Consumer Credit Code.
Consumer Lease - A Consumer Lease through Ford Credit is a flexible way to obtain your new vehicle with little or no capital outlay. With this type of lease arrangement Ford Credit owns the vehicle and agrees to lease it to you for a prescribed amount each month.
Finance Lease - Leasing is a rental agreement between you and Ford Credit where the rentals can be tailored to meet your individual needs. The residual value is set according to Australian tax life and depreciation guidelines. At the end of the lease agreement, you may, subject to our approval offer to purchase the vehicle for the residual amount. Finance Lease is for the business user.
Corporate Hire Purchase - With a Hire Purchase agreement with Ford Credit, payments can be tailored to meet business cashflow. You also have the option of purchasing the vehicle at any time during the life of the contract. This type of financing is traditionally for the business user and can be approved in the name of an individual or company.
Novated Lease - a three-way agreement between Ford Credit, you and your employer
Chattel Mortgage - a new, smarter approach to vehicle financing. A solution that offers you the immediate use of a vehicle for your business.
Operating Lease - most suitable product for your business if you need to turnover your fleet on a more regular basis
Consumer Loan - Providing convenience and flexibility
Ford Credit's Car Loan for individuals - otherwise known as our Consumer Loan product - is a convenient and flexible way for you to obtain finance for the New or Used car of your choice.
The vehicle is used as security for the loan. However, you have ownership from the beginning of the contract. When you make the final payment you get clear title to the vehicle.
A Consumer Loan is regulated under the terms of the Consumer Credit Code.
Features
- Choose a term from 12 to 60 months
- The interest rate is fixed for the term of the loan as are your repayments
- Pay by Direct Debit or BPAY
- You can make an additional payment to your account of any amount.
- Payments can be made as often as you like (i.e. weekly, fortnightly) via BPAY.
- Other costs associated with the purchase can be financed on the contract (such as Comprehensive Insurance, registration and on-road costs)
- You can specify a larger final payment (known as a balloon)
Benefits
- Payments can be structured to suit your individual needs, taking into account your budget and cash flow needs
- With a fixed interest rate you are protected against the market fluctuations
- More frequent payments reduce your interest charges and the term of your loan.
- By financing other costs and insurance you can preserve your cash for other purposes.
- A deposit will reduce your repayments and your interest charges by reducing the amount borrowed.
- A balloon payment has the effect of lowering your regular monthly payments and making your car more affordable.
GST
GST is not payable on any part of the Consumer Loan transaction however may be payable on the purchase price of the vehicle or the other items like Insurance.
Consumer Lease
A Consumer Lease through Ford Credit is a flexible way to obtain your new vehicle with little or no capital outlay.
With this type of lease arrangement Ford Credit owns the vehicle and agrees to lease it to you for a prescribed amount each month.
At the end of the lease agreement you may, subject to our approval, offer to purchase the vehicle for the residual amount.
Features
- Terms range from 12 to 60 months.
- Residuals are set according to the Australian Tax Office life and depreciation guidelines.
- Your rental cost and the interest rate is fixed for the term of the lease
- Payments can be made via Direct Debit or BPAY
- ther costs associated with the purchase can be financed on the contract (such as: comprehensive insurance, registration and on-road costs)
Benefits
- Payments can be structured to suit your needs, with your budget and cash flow taken into consideration.
- With fixed rentals you are protected against interest rate fluctuations.
- By financing other costs and insurance you can preserve your cash for other purposes.
- Rentals are fully tax deductible, provided the vehicle is used to generate tax assessable income.
GST and other Stamp Duty
Consumer Finance Lease rentals are subject to GST, as is the Residual Value. Rentals may also be subject to Stamp Duty.
Finance Lease - For the business user
Leasing is a rental agreement between you and Ford Credit, where the rentals can be tailored to meet your individual needs.
The residual value is set according to Australian Tax Office life and depreciation guidelines and at the end of the lease agreement you may, subject to our approval, offer to purchase the vehicle for the residual amount.
Features
- Terms range from 12 to 60 months
- Residuals are set according to the Australian Tax Office life and depreciation guidelines.
- The interest rate is fixed for the term of the lease, as are your rentals
- Pay via Direct Debit or BPAY
- Other costs associated with the lease can be financed.
Benefits
- Payments can be structured to suit your individual needs, with your budget and cashflow taken into consideration.
- With fixed rentals you are protected against market fluctuations
- By financing other costs and insurance you can preserve your cash for other purposes.
- Rentals are fully tax deductible, provided the vehicle is used to generate tax assessable income.
GST and other Stamp Duty
Finance Lease rentals are subject to GST as is the Residual Value. Rentals may also subject to Stamp Duty.
Corporate Hire Purchase - Tailor your payments
With a Hire Purchase agreement with Ford Credit, payments can be tailored to meet business cashflow.
You also have the option of purchasing the vehicle at any time during the life of the contract.
This type of financing is for the business customer and can be approved in the name of an individual or company
Features
- Terms range from 12 to 60 months,
- The interest rate is fixed for the term of the agreement, as are your rentals,
- Pay via Direct Debit or BPAY,
- Other costs associated with the purchase can be financed (such as Comprehensive Insurance, registration and on-road costs)
- Subject to credit approval, Ford Credit will finance 100% of the purchase price,
- You can have a larger final balloon payment (subject to approval guidelines).
Benefits
- Payments can be structured to suit your needs, with your budget and cashflow taken into consideration,
- With a fixed interest rate you are protected against interest rate fluctuations,
- By financing other costs such as insurance, you can preserve your cash for other purposes,
- Interest charges and depreciation are generally tax deductible,
- A balloon payment will lower your regular monthly rentals; improving your cash flow and making your vehicle more affordable,
- Ownership is transfered to you upon the final payment.
GST and other Stamp Duty
Rentals on a Hire Purchase agreement are not subject to GST nor is the balloon payment. GST is normally payable on the purchase price of the vehicle and other components of the transaction.
Novated Lease - Benefits for employees and employers
Ford Credit's Novated Lease product is a three-way agreement between Ford Credit, you and your employer. As the employee, you have responsibility for the vehicle and your employer arranges for the monthly payments to be made out of your pre-tax income.
Features
- Terms range from 12 to 60 months
- Residuals are set according to the Australian Tax Office life and depreciation guidelines.
- Your rentals and the interest rate are fixed for the term of the lease
- Pay by Direct Debit or BPAY
- Other costs associated with the purchase can be financed on the contract (such as Comprehensive Insurance, registration and on-road costs)
Benefits to the employee
- Payments can be structured to suit your individual needs, taking into account your budget and cashflow requirements
- With fixed rentals, you are protected against interest rate fluctuations
- Tax effective: payments are made from pre-tax earnings
- Can be portable should you change employers
Benefits to the employer
- If the employee leaves the company, the car is no longer your responsibility
- Payments can be made via Direct Debit or BPAY
- Lease Rentals are tax deductable
- Easy administration: your responsibility only extends to making monthly payments
GST and Stamp Duty
Novated Lease rentals are subject to GST, as is the Residual Value. Rentals are also subject to Stamp Duty and (if applicable) Financial Institutions Duty.
Chattel Mortgage - A smarter approach to vehicle financing
If you are a sole trader or a partnership and you operate your business on a cash basis a Chattel Mortgage might be the product for you.
This product allows the right customer the ability to maximise taxation benefits by claiming back GST when they lodge their Business Activity Statement (BAS).
Features
- Terms range from 12 to 60 months.
- The Interest Rate is fixed for the term of the agreement, as are your payments.
- You can make your payments via BPAY or Direct Debit.
- Other costs associated with the purchase can be financed on the contract (such as, Comprehensive Insurance, registration and on-road costs).
- Subject to credit approval, Ford Credit will finance 100 % of the purchase price.
- You can have a larger final payment (balloon), subject to approval guidelines.
Benefits
- Payments can be structured to suit your individual needs, with your budget and cashflow taken into consideration.
- With a fixed interest rate you are protected against market fluctuations.
- By financing other costs and insurance you can preserve your cash for other purposes.
- Interest and depreciation are generally tax deductible.
- A balloon payment will lower your regular monthly payments. This not only improves your cash flow, but makes your vehicle more affordable.
- Ownership of the vehicle is yours from the beginning of the agreement.
GST and Tax Implications
Payments on a Chattel Mortgage agreement are not subject to GST, nor is the balloon payment. GST is normally payable on the purchase price of the vehicle and other components of the transaction. Please refer to your taxation advisor for details on planning an effective tax position for your business.
Operating Lease - Getting you from A to B risk-free
An Operating Lease is the most suitable product for your business if you need to turn over your fleet on a more regular basis.
With an Operating Lease there is no risk associated with ownership and no residual liability as you simply hand back the vehicle at the end of the agreement (subject to 'fair wear and tear' guidelines.)
Features
- Immediate use of the vehicle with no capital outlay.
- Terms range from 12 to 48 months.
- All registration costs, on-road costs and a full maintenance contract can be included in your agreement.
- Lease rentals will be fully tax deductible if the vehicle is used to generate taxable income.
Benefits
- Lease payments are off-balance sheet which means there is an opportunity to improve gearing ratios.
- No residual risk at the end of the agreement and no need to worry about disposing of the vehicle at that time.
GST and other Stamp Duty
Operating Lease agreements are subject to GST. Rentals are also subject to Stamp Duty (if applicable).
