Hire Purchase

Fixed term business vehicle hire.

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Fleetcare’s Hire Purchase agreement offers you the flexibility of knowing exactly what the monthly repayment will be, while delivering ownership of the vehicle at the end of the agreed term, or earlier if desired.

Fleetcare, who is the lender, gives you immediate use of the vehicle of your choice in exchange for regular payments over an agreed period of time. Upon making the final payment, you become the outright owner of the vehicle.

Why choose a Hire Purchase agreement?

No upfront deposit

With no upfront deposit required, you have immediate use of the vehicle and you may be able to claim input tax credits for the GST payable on interest and fees.

Flexible contract terms

Contract terms can range anywhere between 1 to 5 years. You can structure your monthly repayments and balloon payment to meet business needs and improve cashflow.

Peace of mind

With a simple fixed monthly payment, you’re protected from interest rate changes, allowing for more accurate budget forecasting.

Buying power

Take advantage of Fleetcare’s buying power and access fleet discounts on vehicles, accessories and fit out. All costs will be bundled into the hire purchase agreement, and we’ll even arrange fit out requirements prior to delivery of the vehicle.

Expert fleet consultants

Our expert fleet consultants will offer the best advice and business solutions to assist in meeting your financial goals. No matter the size of your business, our team can tailor a package to suit your needs.

Tailor your repayments

Solutions for your fleet

Fleet Management Combine all your fleet management requirements into a single monthly invoice and let us take care of the administration for fuel cards, insurance, registration, crash management, maintenance and more. Integrated Telematics Combine state of the art GST technology with advanced vehicle management, exception reporting and integrated driver management. Fleetpro The one-stop-shop for small business vehicle fleet management. Combine fuel cards, 24/7 roadside assistance and maintenance management. Sale & Leaseback Free up capital quickly by selling your vehicles to Fleetcare and leasing them back, simplifying your payments and improving cash flow.

Hire Purchase FAQs

Is a hire purchase agreement right for me?

A hire purchase agreement is suitable for business, partnerships and sole traders who are registered for GST on an accruals basis. You can claim the GST of the vehicle’s purchase price as a lump sum on your next Business Activity Statement (BAS) cycle.

Is there a minimum number of vehicles for a hire purchase agreement?

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

What type of vehicle can I take out under a hire purchase agreement?

You have the freedom to choose any vehicle within your budget. You can choose a new or used car as long as the vehicle is less than 8 years old at the end of the agreement.

Can I use my current car as a trade-in?

Yes, you can trade-in your existing vehicle to build equity on a new car that you wish hire from Fleetcare.

Can Fleetcare source the vehicle?

If you have a car in mind, Fleetcare can source the vehicle on your behalf. Our purchasing power means impressive price reductions which are passed on to you.

What is the standard term for a hire purchase agreement?

A hire purchase term can range anywhere between 1 to 5 years. A minimum 3 year term agreement is recommended to ensure you maximise the asset warranty and end of term value.

Can I customise the vehicle with accessories or add-ons?

Fleetcare will negotiate the cheapest quote on any vehicle accessories and add-ons you require. These costs will be bundled into your repayments and we can arrange fit out prior to delivery.

Who will own the vehicle at the end of the hire period?

Once you’ve made the final payment of the hire purchase arrangement, you’ll receive full ownership of the vehicle.

Additional financing options

Operating Lease Lease a fully maintained vehicle with no residual risk. Finance Lease A non-maintained lease option with the opportunity to own it later. Secured Loan Own it now and pay it off.

Think a Hire Purchase 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.

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Hire Purchase