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Finance Lease

A non-maintained lease option.
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A Finance Lease is a rental agreement where the financier legally owns the vehicle and you lease it for an agreed term. The finance company purchases your vehicle and you rent it from them for an agreed monthly repayment. At the end of the term you make a final payment and the car is yours, or you can dispose of it.
A Finance Lease allows businesses to take a residual position on the vehicle for the end of the term, providing it is within the Australian Taxation Office guidelines. This allows you to set repayments to cash flow requirements and potentially reap the benefit from the vehicle selling at a higher price than the residual.

Why choose a Finance Lease?

No deposit finance
Funding is provided for 100% of the vehicle purchase price, and includes any additional accessories and fit out costs.
Control your costs
Fixed rental payments protect you from interest rate fluctuations over the term of the contract, allowing for easier cash management and budgeting.
Access fleet discounts
Leverage Fleetcare’s buying power and supplier network to access fleet discounts on vehicles, accessories and fit out. Fit out requirements will be arranged prior to the delivery of the vehicle with the costs then bundled into the finance lease repayments.
Residual liability
Under a Finance Lease, you retain the risk on the residual value. This means if you dispose of the vehicle for more than the residual value, any surplus funds are yours to keep.
Experienced fleet consultants
Expert fleet consultants will work with you to tailor a package to suit your business needs. Our team will offer the best advice and business solutions to assist in meeting your financial goals.

Your options at the end of the finance lease agreement

Finance Lease FAQs

Is a finance lease right for me?

A finance lease is a great option for businesses who want the flexibility to choose what becomes of the vehicle at the end of the lease period. Business owners will have the option to upgrade to a later model, extend the lease period, or payout the residual amount and own the vehicle.

Is there a minimum number of vehicles for a finance lease?

There is no minimum or maximum number of vehicles required for a finance lease. This will depend on your business’s financial position.

What type of vehicle can I take out under a finance lease agreement?

You can choose a new or used car as long as the vehicle is less that 8 years old at the end of the lease period.

Can Fleetcare source the vehicle?

Yes, Fleetcare can source the vehicle on your behalf. Our purchasing power can save you thousands on the vehicle purchase price.

What is the standard term for a finance lease agreement?

A finance lease can range anywhere between 1 to 5 years. Fleetcare will help you to determine the best term agreement to ensure you maximise the asset warranty and end of term value.

Can I add accessories or add-ons to the vehicle?

Yes, vehicle accessories and add-ons can be added to the vehicle and bundled into your repayments. Fleetcare can source accessories and add-ons, as well as negotiate the best price with our fleet discounts.

Who will own the vehicle at the end of the finance lease period?

At the end of the finance period you will own the vehicle, once the residual payment is made.

You may also consider:

  1. Hand the vehicle back to Fleetcare, and upgrade to a later model*
  2. Refinance the residual amount and extend the lease term

*Any surplus or deficient would be retained or charged to the customer.

Think a Finance Lease is right for you?

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Disclaimer: This advice is general in nature and based on present taxation laws and may be subject to change. We recommend you seek your own independent financial advice.